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We study both theoretically and empirically the inter- dependence of lending decisions in different country branches of a multinational bank. First, we model a bank that delegates the management of its foreign unit to a local manager with non-transferable skills. The bank differs from other...
Persistent link: https://www.econbiz.de/10005222398
We analyze the link between banking sector quality and sovereign risk in the whole European Union over 1999–2014. We employ four different indicators of sovereign risk (including market- and opinion-based assessments), a rich set of theoretically and empirically motivated banking sector...
Persistent link: https://www.econbiz.de/10011657174
A small labour market model for the six largest euro area countries (Germany, France, Italy, Spain, the Netherlands, Belgium) is estimated in a state -space framework. The model entails, in the long run, four driving forces: a trend labour force component, a trend labour productivity component,...
Persistent link: https://www.econbiz.de/10009640610
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In this paper we present a two-country dynamic general equilibrium model of ex ante unequally developed countries. The model explains a key feature recently observed in transition economies the long-run trend real exchange rate appreciation through investments into quality. Our exchange-rate...
Persistent link: https://www.econbiz.de/10003456371
Persistent link: https://www.econbiz.de/10003970527
A small labour market model for the six largest euro area countries (Germany, France, Italy, Spain, the Netherlands, Belgium) is estimated in a state -space framework. The model entails, in the long run, four driving forces: a trend labour force component, a trend labour productivity component,...
Persistent link: https://www.econbiz.de/10008901500
Persistent link: https://www.econbiz.de/10008906931
Persistent link: https://www.econbiz.de/10003589354