Similar Search Results

Interest rate hysteresis in macroeconomic investment under uncertainty

Belke, Ansgar; Göcke, Matthias - 2019

important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of … changes in the interest rate on macroeconomic investment under the scenarios of certainty and uncertainty. We capture the … direct interest rate-hysteresis effects on investment and the capital stock and, explicitly, stochastic changes of the …

Persistent link: https://www.econbiz.de/10011994756

The Relation between Financial Development, Energy Consumption and Economic Growth : Empirical Evidence for the United States

Le, Kim-Song - 2014

This paper examines the relation between financial development, energy consumption and economic growth in the United States (U.S) for the period 1966-2011. We use a vector error correction model (VECM) to investigate the effect of financial development and energy consumption on economic growth...

Persistent link: https://www.econbiz.de/10013048841

Foreign Direct Investment in the Financial Sector : The Engine of Growth for Central and Eastern Europe?

Eller, Markus; Haiss, Peter R.; Steiner, Katharina - 2011

This paper examines the impact of financial sector foreign direct investment (FSFDI) on economic growth by estimating a …

Persistent link: https://www.econbiz.de/10014060105

Financing Economic Growth in Greece : Lessons from the Crisis

Migiakis, Petros M.; Louri, Helen - 2022

We examine the existence of a feedback loop between the resilience of the financial sector and Greek economic activity. A sequence of structural VARs is employed using data for bank credit, liquidity, capital, asset quality and private demand in 2001-2018 in two data sets. One in monthly...

Persistent link: https://www.econbiz.de/10013492494

Why Does Financial Sector Growth Crowd Out Real Economic Growth?

Cecchetti, Stephen G. - 2015

In this paper we examine the negative relationship between the rate of growth of the financial sector and the rate of growth of total factor productivity. We begin by showing that by disproportionately benefiting high collateral/low productivity projects, an exogenous increase in finance reduces...

Persistent link: https://www.econbiz.de/10013028274

China's March to Prosperity: Reforms to Avoid the Middle-income Trap

Koen, Vincent; Herd, Richard; Hill, Sam - Economics Department, Organisation de Coopération et … - 2013

China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...

Persistent link: https://www.econbiz.de/10011277005

Econometric issues in estimating user cost elasticity

Schaller, Huntley - 2006

The user cost elasticity is a parameter of considerable importance in economics, with implications for the effects of budget deficits, tax-based savings incentives, monetary policy, corporate taxes, and tariffs and quotas on capital goods. This paper analyzes the econometric issues that account...

Persistent link: https://www.econbiz.de/10010293745

Die Rolle der Banken bei der Transformation von Finanz- in Sachkapital: Studie im Auftrag des Staatssekretariats für Wirtschaft SECO, Direktion für Wirtschaftspolitik, DPWW

Abrahamsen, Yngve; Dibiasi, Andreas; Drechsel, Dirk; … - 2013

Durch Bereitstellung von Krediten tragen Banken zur Transformation von Finanzkapital in Sachkapital bei. Die Kreditvergabepolitik der Schweizer Banken hat sich im vergangenen Vierteljahrhundert stark gewandelt. Basierend auf einem Datensatz (1987-2012) mit bankengruppenspezifischen Bilanzdaten...

Persistent link: https://www.econbiz.de/10011386830

The relevance of Haavelmo's macroeconomic theorizing for contemporary macro policy making

Chand, Sheetal K. - 2012

The recent great financial crisis and the ensuing deep recessions have placed in sharp relief the fundamental issue of how financial factors, including financial instability, interact with the real economy. In order to understand the nature of these interactions and formulate policies that would...

Persistent link: https://www.econbiz.de/10010330242

Financial distress and corporate investment: The Japanese case in the 90s

Ogawa, Kazuo - 2003

We examine quantitatively the extent to which financial distress in the 90s affected Japanese corporate investment …. Based on the firm-level data that includes small, unlisted firms, we estimate investment function to measure the impact of … financial distress on investment. We find that the firm's ratio of debt to total asset exerts a significantly negative effect on …

Persistent link: https://www.econbiz.de/10010332354