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Lending Standards and Macroeconomic Dynamics

Gete, Pedro - 2021

This paper proposes a tractable way to incorporate lending standards ("credit qualification thresholds") into macro models of financial frictions. Banks can reject borrowers whose risk is above an endogenous threshold at which no lending rate sufficiently compensates banks for the borrowers’...

Persistent link: https://www.econbiz.de/10013315376

A century of macro-financial linkages

Abildgren, Kim - In: Journal of financial economic policy 8 (2016) 4, pp. 458-471

Persistent link: https://www.econbiz.de/10011697836

Macroeconomic Shocks and Corporate R&D

Burger, John D. - 2017

This paper investigates the impact of output and credit market shocks on R&D spending in advanced economies and builds on the commonly accepted view that credit constraints lead to procyclical R&D spending. A theoretical model is developed where output and credit shocks are treated separately,...

Persistent link: https://www.econbiz.de/10012965214

The Effects of Forward Guidance in Three Macro Models

Chung, Hess T. - 2020

With the federal funds rate at its effective zero lower bound since the end of 2008, much attention has been focused on estimating the effects of "unconventional" monetary policy actions, such as large-scale asset purchases or explicit forward guidance concerning the future path of the funds rate

Persistent link: https://www.econbiz.de/10014091658

Monitoring Multicountry Macroeconomic Risk

Korobilis, Dimitris; Schröder, Maximilian - 2023

We propose a multicountry quantile factor augmeneted vector autoregression (QFAVAR) to model heterogeneities both across countries and across characteristics of the distributions of macroeconomic time series. The presence of quantile factors allows for summarizing these two heterogeneities in a...

Persistent link: https://www.econbiz.de/10014350458

Fiscal stimulus : a neoclassical perspective

Strulik, Holger; Trimborn, Timo - 2009

standard neoclassical growth model with US data and assume that an exogenous shock has driven aggregate output far below steady … the generality of this result w.r.t. size and persistence of the shock, size of the government spending multiplier, and …

Persistent link: https://www.econbiz.de/10003857658

Proxy VAR models in a data-rich environment

Bruns, Martin - 2019

financial variables changes the model dynamics and delivers price responses which are more in line with economic theory. A …

Persistent link: https://www.econbiz.de/10012125244

Identifying Permanent and Temporary Shocks in Government Spending Using Economic Policy Uncertainty

Ramirez, Carlos D. - 2022

This paper decomposes government spending into its temporary and permanent components using Baker’s et. al. economic policy uncertainty (EPU) in a bivariate SVAR setting with long-run constraints, a la Blanchard and Quah (1989). To illustrate the applicability of the bivariate moving average...

Persistent link: https://www.econbiz.de/10014081955

The Aggregate Effects of Government Income Transfer Shocks - EU Evidence

Párraga Rodríguez, Susana - 2016

This paper estimates the aggregate effect of government income transfer shocks for a sample of EU countries. The new measure of transfer shocks builds on a dataset by public finance experts of the European System of Central Banks (ESCB). The identification strategy consists of a narrative...

Persistent link: https://www.econbiz.de/10012977482

Chapter 5 The Economic Theory of Gift-Giving: Perfect Substitutability of Transfers and Redistribution of Wealth

Mercier Ythier, Jean - In: Handbook of the economics of giving, altruism and …, (pp. 227-369). 2006

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic … analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent … voluntary redistribution of income or wealth. The theory concentrates on lump-sum voluntary transfers, individual or collective …

Persistent link: https://www.econbiz.de/10014023678