Showing 1 - 10 of 13
Persistent link: https://www.econbiz.de/10008491907
Persistent link: https://www.econbiz.de/10009561669
This paper focuses on the tax impediments faced by small and medium-sized enterprises in Italy. The fact that small businesses are characterized by financing constraints and have less access to bank loans is often emphasized as an argument in favour of a special tax treatment for small...
Persistent link: https://www.econbiz.de/10009358663
Persistent link: https://www.econbiz.de/10011900549
By introducing search and matching frictions in both the labor and the credit markets into a cash in advance New Keynesian DSGE model, we provide a novel explanation of the incomplete pass-through from policy rates to loan rates. We show that this phenomenon is ineradicable if banks possess some...
Persistent link: https://www.econbiz.de/10010729845
The theoretical literature on business cycles predicts a positive investment response to productivity improvements, a prediction we question from theoretical and empirical perspectives. We show that a short-term negative response of investment to a positive technology shock is consistent with a...
Persistent link: https://www.econbiz.de/10010582622
Despite the increasing number of studies on monetary policy uncertainty, its role on the strategic interaction between fiscal and monetary policies has not been fully explored. Our paper aims to fill this gap by evaluating the consequences produced by multiplicative uncertainty in such a context.
Persistent link: https://www.econbiz.de/10009023669
We show that in a modified Mortensen–Pissarides model the bargaining weights depend on the players’ loss-aversion parameters. These weights can hence be calibrated without resorting to an assessment of players’ bargaining powers, which have proved difficult to empirically establish.
Persistent link: https://www.econbiz.de/10010608072
Persistent link: https://www.econbiz.de/10011528692
Persistent link: https://www.econbiz.de/10011805950