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Corporate Investment and the Real Exchange Rate

Dao, Mai - 2020

We examine the relationship between real exchange rate fluctuations and firm-level investment and growth using data for a sample of close to 33,000 firms from 68 advanced and emerging market countries over the 2000-2014 period. We show that real depreciations boost profits, investment, and asset...

Persistent link: https://www.econbiz.de/10012850917

Economy works differently Episode 1 : The indisputable proof that Keynes' Investment Multiplier is a Wrong Theory

Vanoverberghe, Didier - 2021

is based on a faulty theory and must be abandoned. An upcoming article will challenge the permanent income hypothesis and …

Persistent link: https://www.econbiz.de/10013213793

Economy works differently Episode 3 : The end of the two Cambridge controversy, Economic Capital is the micro-foundation of economics , Aggregation of Economic Capital

Vanoverberghe, Didier - 2022

The two Cambridge controversy have marked a milestone in economic thinking. By their demonstration neo-Ricardian and post-Keynesian seemed to have proven the impossibility of defining the notion of Capital and, moreover, of being able to aggregate heterogeneous Capital. It is not so.By reasoning...

Persistent link: https://www.econbiz.de/10013295977

Tax Policy, Investment Decisions and Economic Growth

Bonucchi, Manuel - 2016

This paper evaluates the impact of the taxation system on factor costs, investment and economic activity. This is performed on the basis of detailed analysis of the Italian tax system and the production of own estimates of the user cost of capital to labour, which capture the contribution of tax...

Persistent link: https://www.econbiz.de/10013006211

Collateral, Leverage, and the Business Cycle

Xing, Xiaochuan - 2022

I construct an infinite-horizon dynamic stochastic general equilibrium model with a collateral constraint and actual default in equilibrium. Entrepreneurs borrow from households through non-recourse debt contracts backed by capital goods. By taking into account the non-linear payoffs of the...

Persistent link: https://www.econbiz.de/10013406066

The heterogeneous response of real estate asset prices to a global shock

Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael - 2022

We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit differences in the incidence of Covid infections or short-time work at the...

Persistent link: https://www.econbiz.de/10014486607

The Heterogeneous Response of Real Estate Asset Prices to a Global Shock

Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael - 2023

Persistent link: https://www.econbiz.de/10014254468

The heterogeneous response of real estate asset prices to a global shock

Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael - 2022

We estimate the transmission of the pandemic shock in 2020 to prices in the residential and commercial real estate market by causal machine learning, using new granular data at the municipal level for Germany. We exploit diﬀerences in the incidence of Covid infections or short-time work at the...

Persistent link: https://www.econbiz.de/10013445569

The heterogeneous response of real estate asset prices to a global shock

Heiniger, Sandro; Koeniger, Winfried; Lechner, Michael - 2022

Persistent link: https://www.econbiz.de/10013448709

The Capital Asset Pricing Model as Modern Austrian Business Cycle Theory

Krainer, Robert - 2021

According to Austrian macroeconomic theory, capital accumulation today generates supply tomorrow. Will that supply … financial system. Towards this end we develop a model based on the Capital Asset Pricing Model (CAPM), Rational Expectations …, and Linear Homogeneous Production Functions. Within this framework we show how the financial system in the form of CAPM …

Persistent link: https://www.econbiz.de/10013230056