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Does agency cost model explain business fluctuations in Japan? An empirical attempt to estimate agency cost by firm size

Ogawa, Kazuo; Uchiyama, Hirokuni - 2003

An attempt is made to estimate a state space model of investment and borrowing in a Bayesian framework and extract the … value of land. Furthermore, we find that investment and borrowing behavior of small firms is very much affected by their …

Persistent link: https://www.econbiz.de/10010332217

Are Japanese households financially healthy, and if so, why? A Group of Seven (G7) comparison

Horioka, Charles Yuji - 2012

Japan over time, I find that Japan has shown a sharp increase over time in household borrowing, at least until 2000, and a …

Persistent link: https://www.econbiz.de/10010332271

The degree of judicial enforcement and credit markets: Evidence from Japanese household panel data

Horioka, Charles Yuji; Sekita, Shizuka - 2009

In this paper, we conduct an empirical analysis of the impact of better judicial enforcement on the probability of being credit rationed, loan size, and the probability of bankruptcy using household-level data from the Japanese Panel Survey of Consumers, conducted by the Institute for Research...

Persistent link: https://www.econbiz.de/10010332377

How flexible repayment schedules affect credit risk in agricultural microfinance

Weber, Ron; Mußhoff, Oliver; Petrick, Martin - 2014

Using a unique dataset of a commercial microfinance institution in Madagascar, this paper investigates how the provision of microfinance loans with (in)flexible repayment schedules affects loan delinquencies of agricultural borrowers. Flexible repayment schedules allow a redistribution of...

Persistent link: https://www.econbiz.de/10010352047

An Overview of the Canadian Banking System: 1996 to 2015

McKeown, Robert - 2017

From 1996 to 2015, total assets at Canadian and foreign banks operating in Canada grew four-times in size. This growth occurred with neither a significant regulatory change, such as the repeal of Glass-Steagall, nor the introduction of new business lines, such as wealth management or investment...

Persistent link: https://www.econbiz.de/10011939430

Managing Permit Markets to Stabilize Prices

Newell, Richard G.; Pizer, William A.; Zhang, Jiangfeng - 2003

The political economy of environmental policy favors the use of quantity-based instruments over price-based instruments (e.g., tradable permits over green taxes), at least in the United States. With cost uncertainty, however, there are clear efficiency advantages to prices in many cases,...

Persistent link: https://www.econbiz.de/10009445511

Interaction between housing prices and household borrowing in Finland

Oikarinen, Elias - 2008

Housing prices and household borrowing are expected to be tightly connected to each other. Better availability of …, housing prices may significantly influence household borrowing through various wealth effects. Employing time series … by households. It appears that there is no similar relationship between stock price movements and household borrowing …

Persistent link: https://www.econbiz.de/10010273080

Fiscal states in sub-Saharan Africa: Conceptualization and empirical trends

Bak, Ane Karoline; Jeppesen, Matilde; Kjær, Anne Mette - 2021

define the fiscal state by a balanced relationship between taxation and borrowing as dominant revenue sources, and we …

Persistent link: https://www.econbiz.de/10012807490

Cognitive constraints and economic incentives

D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; … - 2023

Unique administrative data on a representative population's cognitive abilities, spending, and financials reveal that consumers at or below median cognitive abilities barely react when their incentives to spend or borrow change, even if they earn high incomes and are financially unconstrained...

Persistent link: https://www.econbiz.de/10014285743

Consumption and account balances in crises: Have we neglected cognitive load?

Assenza, Tiziana; Cardaci, Alberto; Chaliasos, Michael - 2023

The complexities of geopolitical events, financial and fiscal crises, and the ebb and flow of personal life circumstances can weigh heavily on individuals' minds as they make critical economic decisions. To investigate the impact of cognitive load on such decisions, we conducted an incentivized...

Persistent link: https://www.econbiz.de/10014449125