Similar Search Results

Investment, Reprocurement and Franchise Contract Length in the British Railway Industry

Affuso, Luisa; Newbery, David M G - C.E.P.R. Discussion Papers - 2000

incentives for investment in rolling stock, following the privatization of British Rail. Theoretical predictions are tested … incentives for delayed investment. Investing just before the end of the franchise enhances the incumbent’s probability of having …

Persistent link: https://www.econbiz.de/10005666623

Uncertainty and Company Investment Dynamics: Empirical Evidence for UK Firms

Bloom, Nicholas; Bond, Stephen Roy; Van Reenen, John - C.E.P.R. Discussion Papers - 2003

This Paper investigates the empirical relationship between uncertainty and investment dynamics. This is motivated by … the real options literature, which suggests a weaker response of investment to demand shocks at higher levels of … can be detected as a smaller impact of sales growth on investment for firms facing higher uncertainty. Using a stock …

Persistent link: https://www.econbiz.de/10005666662

The Monetary Transmission Mechanism: Evidence from the Industries of Five OECD Countries

Dedola, Luca; Lippi, Francesco - C.E.P.R. Discussion Papers - 2000

related to the industry output durability and investment-intensity and to measures of firms' borrowing capacity, size, and …, investment intensity) in explaining the differential impact of monetary policy. …

Persistent link: https://www.econbiz.de/10005504429

How important is the credit channel? An empirical study of the US banking crisis

Liu, Chunping; Minford, Patrick - C.E.P.R. Discussion Papers - 2012

We examine whether by adding a credit channel to the standard New Keynesian model we can account better for the behaviour of US macroeconomic data up to and including the banking crisis. We use the method of indirect inference which evaluates statistically how far a model’s simulated behaviour...

Persistent link: https://www.econbiz.de/10011084294

The Multi-Regime Bank Lending Channel and the Effectiveness of the Polish Monetary Policy Transmission During Transition

Kierzenkowski, Rafal - C.E.P.R. Discussion Papers - 2002

This Paper examines the consequences of interactions between the bank lending channel and the traditional interest rate and exchange rate channels on the effectiveness of the monetary policy transmission in Poland since 1994. First, we develop a small open-economy credit-augmented model. Under...

Persistent link: https://www.econbiz.de/10005666443

Housing, Credit and Consumer Expenditure

Muellbauer, John - C.E.P.R. Discussion Papers - 2008

Many factors have contributed to the development of credit markets, easing access of households to credit. This paper considers the implications of easier credit for the influence of higher house prices on consumer expenditure. It argues that with poorly developed credit markets, the effect is...

Persistent link: https://www.econbiz.de/10005666819

Banking Crises, Financial Dependence and Growth

Klingebiel, Daniela; Kroszner, Randall S; Laeven, Luc - C.E.P.R. Discussion Papers - 2006

This paper investigates the growth impact of banking crises on industries with different levels of dependence on external sources of finance to analyze the mechanisms linking financial shocks and real activity. If the banking system is the key element allowing credit constraints to be relaxed,...

Persistent link: https://www.econbiz.de/10005124067

Can the Fed talk the hind legs off the stock market?

Eijffinger, Sylvester C W; Mahieu, Ronald J; Raes, Louis - C.E.P.R. Discussion Papers - 2011

Deliberately or not, by providing its stance on the prospects of the economy, rationalizing past decisions or announcing future actions, central banks influence financial markets' expectations of its future policy. In bad times, monetary policy communication inducing an upward revision of the...

Persistent link: https://www.econbiz.de/10009147402

A Red Letter Day?

Dornbusch, Rudiger; Favero, Carlo A.; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 1998

This paper discusses a number of issues that the newly constituted board of the European Central Bank (ECB) will face early on. We show how conducting a European monetary policy is very different from living under the protective umbrella of the Bundesbank. We discuss voting on the ECB board, and...

Persistent link: https://www.econbiz.de/10005114456

A Dynamic Analysis of the Demand for Health Insurance and Health Care

Bolhaar, Jonneke; Lindeboom, Maarten; van der Klaauw, Bas - C.E.P.R. Discussion Papers - 2008

We investigate the presence of moral hazard and advantageous or adverse selection in a market for supplementary health insurance. For this we specify and estimate dynamic models for health insurance decisions and health care utilization. Estimates of the health care utilization models indicate...

Persistent link: https://www.econbiz.de/10005504294