Common research Banco de España / Banque de France, co-ordinated by Annie Sauvé and Manuel Ortega ; With contributions by Concepción Artola, Ana Esteban, Ignacio Hernando, Manuel Ortega, Annie Sauvé, Teresa Sastre, André Tiomo and Alain Tournier. ; This publication covers the analysis...

Estudio conjunto Banco de España / Banco de Francia, coordinado por Annie Sauvé y Manuel Ortega. ; Con las contribuciones de Concepción Artola, Ana Esteban, Ignacio Hernando, Manuel Ortega, Annie Sauvé, Teresa Sastre, André Tiomo y Alain Tournier. ; Esta publicación recoge el trabajo de...

This report analyses the financial position of non-financial enterprises in the euro area, in particular the amount of external financing, the choice between debt and equity and the composition and maturity structure of debt. It aims at identifying the main features of the euro area, as well as...

Using a large panel of 6,946 French manufacturing firms, this paper investigates the effect of monetary policy on investment from 1990 to 1999 through the cost-of-capital and the cash-flow channels. We compare several specifications of neo-classical demand for capital, taking into account...

This paper analyses corporate investment decisions in France and Spain, focusing on the role of financial constraints in explaining investment behaviour. For this purpose, we take advantage of very carefully harmonised data sets that allow for the use of variables homogeneously defined in both...