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Dealing with financial crises : how much help from research?
Pagano, Marco - 2014
Has economic research been helpful in dealing with the financial crises of the early 2000s? On the whole, the answer is negative, although there are bright spots. Economists have largely failed to predict both crises, largely because most of them were not analytically equipped to understand...
Persistent link: https://www.econbiz.de/10010413174
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Banking crises and investments in innovation
Peia, Oana - 2017
This paper proposes a new channel to explain the medium- to long-term effects of banking crises on the real economy. It embeds a banking sector prone to runs in a stylized growth model to show that episodes of bank distress affect not only the volume, but also the composition of firm investment,...
Persistent link: https://www.econbiz.de/10012969578
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Banking crises and investments in innovation
Peia, Oana - 2017
This paper proposes a new channel to explain the medium- to long-term effects of banking crises on the real economy. It embeds a banking sector prone to runs in a stylized growth model to show that episodes of bank distress affect not only the volume, but also the com- position of firm...
Persistent link: https://www.econbiz.de/10011755737
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The long-run real effects of banking crises : firm-level investment dynamics and the role of wage rigidity
Wix, Carlo - 2017
This paper studies the long-run effects of credit market disruptions on real firm outcomes and how these effects depend on nominal wage rigidities at the firm level. I trace out the long-run investment and growth trajectories of firms which are more adversely affected by a transitory shock to...
Persistent link: https://www.econbiz.de/10011755238
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Why have credit variables taken centre stage in predicting systemic banking crises?
Audit, Dooneshsingh; Nafis Alam - In: Latin American journal of central banking : LAJCB 3 (2022) 1, pp. 1-11
In this paper, we investigate the growing prominence of credit in the systemic banking crisis prediction literature. Through the application of the signal extraction model and multivariate probit panel regression, we evaluate the performance of the absolute change in credit-to-GDP ratio as an...
Persistent link: https://www.econbiz.de/10013198128
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The shifts and the shocks : bank risk, leverage, and the macroeconomy
Kuvshinov, Dmitry; Richter, Björn; Zimmermann, Kaspar - 2022
This paper studies the long-run evolution of bank risk and its links to the macroeconomy. Using data for 17 advanced economies, we show that the riskiness of bank assets declined materially between 1870 and 2016. But even though bank assets have become safer, the losses on these assets are...
Persistent link: https://www.econbiz.de/10013265941
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The effect of bank recapitalization policy on credit allocation, investment, and productivity : evidence from a banking crisis in Japan
Kasahara, Hiroyuki; Sawada, Yasuyuki; Suzuki, Michio - 2023
study aims to examine whether the capital injections primarily benefited high-productivity firms or were misallocated to … struggling "zombie" firms. The empirical results suggest that banks, post-injection, increased lending to both high-productivity … non-zombie firms and low-productivity zombie firms. While the former is in line with conventional theories that prioritize …
Persistent link: https://www.econbiz.de/10014334373
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Foreign institutional investors and the great productivity slowdown
Schain, Jan Philip - 2022
This article analyzes the impact of institutional investors on firm productivity duringthe financial crisis 2008 … constrained indicating that foreign insti-tutional ownership prevents the known productivity slowdown during the financial …
Persistent link: https://www.econbiz.de/10012805675
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Canada’s Potential Productivity and Output Growth : A Post-Crisis Assessment
Estevão, Marcello M. - 2011
accounting framework to decompose trend GDP growth into changes in capital, labour services, and total factor productivity, we …
Persistent link: https://www.econbiz.de/10013127590
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Bank loan supply during crises : the importance of geographic diversication
Dörr, Sebastian; Schaz, Philipp - 2018
We classify a large sample of banks according to the geographic diversification of their international syndicated loan portfolio. Our results show that diversified banks maintain higher loan supply during banking crises in borrower countries. The positive loan supply effects lead to higher...
Persistent link: https://www.econbiz.de/10011857209