Showing 1 - 10 of 18
We investigate the role of the judicial system on whether or not the firms obtain the credit they applied for, by looking at the strength of the creditor protection, the strength of property rights, the time for resolving a dispute, its costs and the number of procedures the plaintiff faces. We...
Persistent link: https://www.econbiz.de/10015298439
We analyze how corporate reorganization and liquidation change labor reallocation during bankruptcy using randomized judge assignments and linked Portuguese employer-employee and firm data. Reorganization reduces the negative effect of bankruptcy on employee earnings, even with most workers...
Persistent link: https://www.econbiz.de/10015275043
What is an acceptable level of return on equity (RoE) for a bank? This question is likely to play a pivotal role in the post-crisis debate among banking executives, investors and regulators. Following the spectacular losses in the financial crisis and the massive government intervention, there...
Persistent link: https://www.econbiz.de/10015310822
To mark the 25th anniversary of the ECB Survey of Professional Forecasters (SPF), a special survey was conducted in 2023 to explore the processes and methodologies underlying participants' forecasts. Participants were sent this fourth special survey on SPF forecast processes and methodologies in...
Persistent link: https://www.econbiz.de/10015277055
To mark the 25th anniversary of the ECB Survey of Professional Forecasters (SPF), a special survey was conducted in 2023 to explore the processes and methodologies underlying participants' forecasts. Participants were sent this fourth special survey on SPF forecast processes and methodologies in...
Persistent link: https://www.econbiz.de/10015277066
Over the past 15 years, the forecasting procedures and techniques used for the Eurosystem/ECB staff macroeconomic projections have been subject to many changes and improvements, all aimed at contributing to the monetary policy decision-making process. The projections, conditioned on a set of...
Persistent link: https://www.econbiz.de/10015293527
This paper analyses the predictive power of market-based and survey-based inflation expectations for actual inflation. We use the data on inflation swaps and the forecasts from the Survey of Professional Forecasters for the euro area and the United States. The results show that both market-based...
Persistent link: https://www.econbiz.de/10015296688
Should rational agents take into consideration government policy announcements? A skilled agent (an econometrician) could set up a model to combine the following two pieces of information in order to anticipate the future course of fiscal policy in real-time: (i) the ex-ante path of policy as...
Persistent link: https://www.econbiz.de/10015298354
This paper finds that participants in the European Central Bank's Survey of Professional Forecasters have submitted forecasts that are consistent with a (mostly forward-looking) New Keynesian Phillips Curve for the euro area. The estimation results suggest that euro-area inflation forecasts have...
Persistent link: https://www.econbiz.de/10015298680
This paper assesses the forecasting performance of various variable reduction and variable selection methods. A small and a large set of wisely chosen variables are used in forecasting the industrial production growth for four Euro Area economies. The results indicate that the Automatic Leading...
Persistent link: https://www.econbiz.de/10015298694