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Export market risk and the role of public credit guarantees : conference paper
Heiland, Inga; Yalçin, Erdal - 2014
In this paper we analyze the impact of public export credit guarantees on firms' exports. Earlier studies show that export credit guarantees stimulate exports, employment, and value added. Furthermore, there is evidence at the aggregate level that financial market imperfections are key to...
Persistent link: https://www.econbiz.de/10010486626
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Collateral, liquidity and debt sustainability : conference paper
Niemann, Stefan; Pichler, Paul - 2014
to smooth consumption over time and because they provide collateral and liquidity services. We characterize a recursive … and contemporaneous costs due to lost collateral and liquidity are essential to generate these empirically plausible …
Persistent link: https://www.econbiz.de/10010491142
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The use of collateral in formal and informal lending : conference paper
Kislat, Carmen; Menkhoff, Lukas; Neuberger, Doris - 2013
The ex ante theory of collateral states that better informed lenders, such as informal lenders, rely less on collateral …. We test this by contrasting the use of collateral between formal and informal lenders in the same market. Indeed, formal … lenders rely more often on collateral, controlling for conventional determinants of collateral. Moreover, better information …
Persistent link: https://www.econbiz.de/10010342166
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Liquidity premium, property and collateral : three neglected concepts in the theory of a monetary economy
Heinsohn, Gunnar; Steiger, Otto - 1996
Persistent link: https://www.econbiz.de/10000951225
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Cyclical asset returns in the consumption and investment goods sector : conference paper
Heer, Burkhard; Maußner, Alfred; Süssmuth, Bernd - 2014
We document the empirical fact that asset prices in the consumption-goods and investment-goods sector behave almost identically in the US economy. In order to derive the cyclical behavior of the equity returns in these two sectors, we onsider a standard two-sector real-business cycle model with...
Persistent link: https://www.econbiz.de/10010482490
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Current thinking on fiscal policy
Creel, Jérôme (contributor) - 2009 - 1. publ.
Persistent link: https://www.econbiz.de/10003728754
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Regional implications of financial market development : credit rationing, trade, and location ; conference paper
Ehrlich, Maximilian von; Seidel, Tobias - 2013
We develop a heterogeneous-firms model with trade in goods, labor mobility and credit constraints due to moral hazard. Mitigating financial frictions reduces the incentive of high-skilled workers to migrate to one region such that an unequal distribution of industrial activity becomes less...
Persistent link: https://www.econbiz.de/10010344666
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Corporate cash hoarding in a model with liquidity constraints : conference paper
Mazelis, Falk - 2014 - Preliminary and incomplete
This paper studies the role of uncertainty in the corporate cash hoarding puzzle. The baseline model is a stochastic neoclassical growth model featuring idiosyncratic and uninsurable technology shocks and a cash-in-advance constraint on new investments on the individual firm level. Individual...
Persistent link: https://www.econbiz.de/10010489898
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Public versus private provision of liquidity : is there a trade-off ; conference paper
Röhrs, Sigrid; Winter, Christoph - 2014
Many researchers have recommended to increase public debt in the aftermath of the financial crisis in order to relax borrowing constraints for private households. This advice is based on the common assumption that borrowing conditions of private agents are exogenous to public policy. We study...
Persistent link: https://www.econbiz.de/10010484762
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Rechtliche Aspekte des Außenhandels zwischen Deutschland, Mexiko und Argentinien
Bomhard, Roland (ed.); Dörner, Heinrich (contributor) - 1998 - 1. Aufl.
Persistent link: https://www.econbiz.de/10000677468