Search Results - subject:"Credit market"

Credit market development and firm innovation : evidence from the People's Republic of China

Shang, Hua; Song, Quanyun; Wu, Yu - 2017

From the perspective of credit allocation, this paper analyzes the effects of credit market development on the … provinces in the People's Republic of China, we find that credit market development enhances firms' product innovation … credit market development affects innovative capacities of firms. Our results are neither driven by the increase in the …

Endogenous repo cycles

Arbuzov, Vyacheslav; Awaya, Yu; Fukai, Hiroki; … - 2019

This paper presents a simple and tractable equilibrium model of repos, where collateralized credit emerges under limited commitment. We show that even if there is no time variation in fundamentals, repo markets can fluctuate endogenously over time. In our theory, repo market fragilities are...

Endogenous repo cycles

Watanabe, Makoto; Arbuzov, Vyacheslav; Awaya, Yu; … - 2019

Why Do Formal Credit, Informal Credit, and both Types of Credits Coexist as Consumer Choices?

Garcia, Jorge Luis; Digiannatale, Sonia; Carreon, Victor G - In: Economics Bulletin 35 (2015) 1, pp. 89-96

We analyze why formal credit, informal credit, and both types of credits coexist as consumer choices. We construct a model in which the households pay a fixed cost to access each type of market and face a market particular interest rate. The model induces a cost curve that defines an optimal,...

The unemployment accelerator

Blanco, Andres; Navarro, Gaston - 2016

This paper studies the unemployment accelerator, a mechanism where workers directly affect the firms' financial conditions, and, in turn, firms' financial conditions feedback again to the real economy. The unemployment accelerator builds on two key assumptions: search frictions in the labor...

Empirical estimation of intraday yield curves on the Italian interbank credit market e-MID

Demertzidis, Anastasios; Jeleskovic, Vahidin - 2016

data on the Italian electronic interbank credit market (e-MID). To analyze the consequences of the recent financial crisis … the significantly better goodness-of-fit. Based on this fact, we infer that investors in the interbank credit market base …

Challenges and perspectives for development of banking credit infrastructure in Russia

Ezangina, Irina Alexandrovna; Evstratov, Alexander … - In: International journal of economics and financial issues … 6 (2016) 2, pp. 58-64

Sustainability of product market collusion under credit market imperfections

Marjit, Sugata; Mukherjee, Arijit; Yang, Lei - 2016

-financed oligopoly in which firms face an imperfect credit market. We consider two situations, without and with credit rationing, i …

Elasticity of energy intensity on a regional scale : an empirical study of international trade channel

Burakov, Dmitry - In: International Journal of Energy Economics and Policy : IJEEP 6 (2016) 1, pp. 65-75

Do household finances constrain unconventional fiscal policy?

Baker, Scott; Küng, Lorenz; McGranahan, Leslie; … - 2018

When the zero lower bound on nominal interest rate binds, monetary policy makers may lack traditional tools to stimulate aggregate demand. We investigate whether "unconventional" fiscal policy, in the form of pre-announced consumption tax changes, has the potential to meaningfully shift durables...