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Financial Shocks and the Relative Dynamics of Tangible and Intangible Investment : Evidence from the Euro Area
Gareis, Johannes - 2020
autoregres-sion (SVAR) framework, that, in response to an adverse financial shock, tangible in-vestment falls more than … intangible investment. This positive co-movement betweentangible and intangible investment as well as the relative resilience of … intangibleinvestment pose a challenge for the theoretical model. We show that investment-specific adjustment costs help in reconciling the …
Persistent link: https://www.econbiz.de/10012826228
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Financial shocks and the relative dynamics of tangible and intangible investment : evidence from the euro area
Gareis, Johannes; Mayer, Eric - In: Macroeconomic dynamics 27 (2023) 5, pp. 1455-1480
Persistent link: https://www.econbiz.de/10014306808
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To sign or not to sign? : on the response of prices to financial and uncertainty shocks
Meinen, Philipp; Röhe, Oke - 2018
that such disturbances are important drivers of output fluctuations in both economies, we find the shock responses of …
Persistent link: https://www.econbiz.de/10011897983
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Financial shocks and the relative dynamics of tangible and intangible investment: Evidence from the euro area
Gareis, Johannes; Mayer, Eric - 2020
autoregres-sion (SVAR) framework, that, in response to an adverse financial shock, tangible in-vestment falls more than … intangible investment. This positive co-movement betweentangible and intangible investment as well as the relative resilience of … intangibleinvestment pose a challenge for the theoretical model. We show that investment-specific adjustment costs help in reconciling the …
Persistent link: https://www.econbiz.de/10012254873
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The Impact of Credit Supply Shocks in the Euro Area : Market-Based Financing Versus Loans
Barauskaitė, Kristina; Nguyen, Anh D.M; Fache … - 2022
Using a novel quarterly dataset on debt financing of non-financial corporations, this paper provides the first empirical evaluation of the relative importance of loan and market-based finance (MBF) supply shocks on business cycles in the euro area as a whole and in its five largest countries. In...
Persistent link: https://www.econbiz.de/10013405076
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Financial shocks and the real economy in a nonlinear world : from theory to estimation
Silvestrini, Andrea; Zaghini, Andrea - 2015
financial shock are time-varying and contingent on the state of the economy. They are of negligible importance in normal times …
Persistent link: https://www.econbiz.de/10011279726
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A high-frequency financial conditions index for Norway
Bowe, Frida; Gerdrup, Karsten R.; Maffei-Faccioli, Nicolò - 2023
We have constructed a financial conditions index for Norway (FCIN). The FCIN offers a daily update on Norwegian financial conditions based on data from January 2003 on bank lending rates, bond spreads, the foreign exchange market, the stock market and the housing market. The index is constructed...
Persistent link: https://www.econbiz.de/10013484734
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The financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Burgard, Jan Pablo; Neuenkirch, Matthias - 2021 - This Version: July 22, 2021
We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1-2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states (e.g.,...
Persistent link: https://www.econbiz.de/10012320523
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The financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Neuenkirch, Matthias - 2020
We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1–2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states...
Persistent link: https://www.econbiz.de/10012383710
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The financial accelerator in the euro area : new evidence using a mixture VAR model
Bennani, Hamza; Burgard, Jan Pablo; Neuenkirch, Matthias - 2021 - First draft: November 23, 2020 ; this version: May 17, 2021
We estimate a logit mixture vector autoregressive model describing monetary policy transmission in the euro area over the period 2003Q1-2019Q4 with a special emphasis on credit conditions. With the help of this model, monetary policy transmission can be described as mixture of two states (e.g.,...
Persistent link: https://www.econbiz.de/10013328355