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Persistent link: https://www.econbiz.de/10012213602
This paper evaluates positive and negative media coverage of online local budget transparency (OLBT) and its impact on budget transparency in Croatian local administrative units in 2018. Using multinomial logistic regression, research confirmed a strong impact of media coverage on budget...
Persistent link: https://www.econbiz.de/10014310006
On July 1, 2013, Croatia became the 28th member of the European Union. This achievement crowned more than a decade of … results. Croatia's institutions are now stronger than a decade ago, reflecting broad and deep institutional adjustment that … underpinned the pre-accession process and Croatia has become a high-income country within a decade. Yet the global economic crisis …
Persistent link: https://www.econbiz.de/10013030947
Persistent link: https://www.econbiz.de/10000091629
We develop a model in which financial intermediaries hold liquidity to protect themselves from shocks. Depending on parameter values, banks may choose to hold too much or too little liquidity on aggregate compared with the socially optimal amount. The model endogenously generates a situation of...
Persistent link: https://www.econbiz.de/10011419845
How can a central bank control interest rates in an environment with large excess reserves? In this paper, we develop a dynamic general equilibrium model of a secured money market and calibrate it to the Swiss franc repo market to study this question. The theoretical model allows us to identify...
Persistent link: https://www.econbiz.de/10011338371
The thesis studies three pivotal episodes in the evolution of what became the Global Financial Crisis of 2008-09. These three events - the collapse of the US housing market, the breakdown of the repo money market, and the banking crash - are indispensable for understanding some of the key...
Persistent link: https://www.econbiz.de/10011346892
We investigate the money-market impact of the reform of the operational framework of the European Central Bank that took place in March 2004. We estimate a structural bivariate GARCH model with the overnight rate and 1-year swap rate, where identifying restrictions are imposed on the conditional...
Persistent link: https://www.econbiz.de/10009746042
Persistent link: https://www.econbiz.de/10010200855