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Evaluating Treatment Effect and Causal Effect of Fiscal Rules on Procyclicality

Mandon, Pierre - HAL - 2014

positive causal effect of fiscal rules adoption on the reduction of fiscal policy procyclicality. We find an asymmetrical … effective to dampen procyclicality than expenditure rules. We also provide evidence that the coverage of fiscal rules is not a … critical issue to strength against procyclicality. Empirical results also displays the positive impact of the adoption of …

Persistent link: https://www.econbiz.de/10010821309

Bank Ownership and Credit Cycle: the lower sensitivity of public bank lending to the business cycle

Duprey, Thibaut - HAL - 2013

This paper examines empirically to which extent public banks feature a different pattern in their lending behaviour over macroeconomic fluctuations. Based on a unique dataset from 1990 to 2010, including at most 459 public banks in 93 countries, I can handle ownership change by including records...

Persistent link: https://www.econbiz.de/10010738937

Les émetteurs sur le marché financier français : une hiérarchie nouvelle après 1895

Hautcoeur, Pierre-Cyrille; Romey, Carine - HAL - 2006

This paper is chapter 13 of a book forthcoming in January 2007 under the title Histoire du marché financier français au 19 ème siècle (a history of the French capital market in the 19th century). In this chapter, we discuss the changes in the supply of securities on the French capital market...

Persistent link: https://www.econbiz.de/10010739057

The measurement of financial intermediation in Japan

Capelle-Blancard, Gunther; Couppey-Soubeyran, Jézabel; … - HAL - 2005

In this paper, we compute financial intermediation ratios for Japan (1970-2003) on a book value basis. According to our results, the intermediation ratio has remained quite stable, at around 85%. However, this stability is the result of two opposing trends : a decrease in credits and an increase...

Persistent link: https://www.econbiz.de/10010750624

The measurement of financial intermediation in Japan

Capelle-Blancard, Gunther; Couppey-Soubeyran, Jézabel; … - HAL - 2008

In this paper, we examine the evolution of the Japanese financial structure, in order to challenge the expected incidences of the financial liberalization. We compute financial intermediation ratios for Japan (1979-2004) on a book value basis. According to our results, the intermediation ratio...

Persistent link: https://www.econbiz.de/10010750735

Towards a practical approach to responsible innovation in finance: New Product Committees revisited

Armstrong, Margaret; Cornut, Guillaume; Delacôte, Stéphane - HAL - 2012

Purpose - The purpose of this paper is to highlight the potentials offered by New Product Committees for the development of responsible innovation in the financial services industry; and to provide grounds for policy recommendations. Design/methodology/approach - The paper takes the form of...

Persistent link: https://www.econbiz.de/10010820476

Cultural diversity at the top: Does it increase innovation and firm performance?

Bozionelos, Nikos; Hoyland, Thomas - HAL - 2014

The article focuses on cultural diversity and whether it has economic value. Though it is undisputed that cultural diversity within a country increases entrepreneurial behaviour the question that remains is whether this heightened entrepreneurial activity results in greater economic...

Persistent link: https://www.econbiz.de/10010899281