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their investment decisions. Moreover, financial con-straints become more severe in times of restrictive monetary policy. …
Persistent link: https://www.econbiz.de/10013369958
In 1867, the "Compromise" between Austria and Hungary laid the foundation of a single currency system with a common central bank. As in today's euroland, each part of the monarchy remained sovereign in fiscal matters. Moreover, the borrowing needs of both parts of the monarchy were quite large,...
Persistent link: https://www.econbiz.de/10013369960
This paper proposes a new framework for studying the effects of monetary policy on business investment. Important … ambiguities with the modeling of investment dynamics and interactions between real and financial decisions suggest modeling … investment spending as a VAR. Based on a panel of financial statement data for 6,408 German firms (44,345 datapoints …
Persistent link: https://www.econbiz.de/10011432001
Persistent link: https://www.econbiz.de/10009769836
Persistent link: https://www.econbiz.de/10001473539
This paper proposes a new framework for studying the effects of monetary policy on business investment. Important … ambiguities with the modeling of investment dynamics and interactions between real and financial decisions suggest modeling … investment spending as a VAR. Based on a panel of financial statement data for 6,408 German firms (44,345 datapoints …
Persistent link: https://www.econbiz.de/10001754721
Persistent link: https://www.econbiz.de/10012991241
Persistent link: https://www.econbiz.de/10012692804
This paper investigates the effects of monetary policy on firms' investment behaviour. The analysis relies on a …. First, we estimate a reduced-form investment equation derived from the neo-classical model, augmented by cash flow. This …
Persistent link: https://www.econbiz.de/10011622593
their investment decisions. Moreover, financial con-straints become more severe in times of restrictive monetary policy. JEL …
Persistent link: https://www.econbiz.de/10010727697