Narrow search
Showing 1 - 10 of 1,454
Cover Image
Countercyclical Capital Regulation in a Small Open Economy DSGE Model
Lozej, Matija - 2018
(CCyB) rules in small open economy estimated medium scale DSGE. We find that rules based on the credit gap create a trade … only on the house price but not the credit gap. Moreover, the optimal simple rule leads to significant welfare gains …
Persistent link: https://www.econbiz.de/10012921203
Cover Image
Business Cycle Synchronisation : Disentangling Trade and Financial Linkages
Dées, Stéphane - 2011
Drawing on a large sample of countries, this paper explores whether closer economic ties between countries foster business cycle synchronisation and disentangles the role of the various channels, including trade and financial linkages as well as the similarity in sectoral specialisation....
Persistent link: https://www.econbiz.de/10013128036
Cover Image
The Yield Curve as a Predictor and Emerging Economies
Mehl, Arnaud - 2021
This paper investigates the extent to which the slope of the yield curve in emerging economies predicts domestic inflation and growth. It also examines international financial linkages and how the US and the euro area yield curves help to predict. It finds that the domestic yield curve in...
Persistent link: https://www.econbiz.de/10013317370
Cover Image
Credit Shocks and the European Labour Market
Bodnár, Katalin - 2018
credit market for the period 2010-13. Second, we provide a description of the relationship between credit difficulties and … correlation between credit difficulties and adjustments along both the extensive and the intensive margin. In the presence of … credit market difficulties, firms cut wages by reducing the variable part of wages. This evidence suggests that credit shocks …
Persistent link: https://www.econbiz.de/10012928642
Cover Image
Real Convergence and its Illusions
Kolasa, Marcin - 2021
This paper uses the EAGLE, a multi-country dynamic general equilibrium model, to illustrate dynamic adjustments in a small open economy undergoing real convergence. We consider the effects of productivity catch-up and misperceptions about future productivity developments. Our results indicate...
Persistent link: https://www.econbiz.de/10013316187
Cover Image
Corporate Debt Structure and the Financial Crisis
De Fiore, Fiorella - 2015
We present a DSGE model where firms optimally choose among alternative instruments of external finance. The model is used to explain the evolving composition of corporate debt during the financial crisis of 2008-09, namely the observed shift from bank finance to bond finance, at a time when the...
Persistent link: https://www.econbiz.de/10013030859
Cover Image
Corporate Bond Spreads and Real Activity in the Euro Area - Least Angle Regression Forecasting and the Probability of the Recession
Buchmann, Marco - 2011
This paper aims at providing a detailed analysis of the leading indicator properties of corporate bond spreads for real economic activity in the euro area. In- and out-of-sample predictive content of corporate bond spreads are examined along three dimensions: the bonds' quality, their term to...
Persistent link: https://www.econbiz.de/10013131847
Cover Image
Credit Supply : Identifying Balance-Sheet Channels with Loan Applications and Granted Loans
Jiménez, Gabriel - 2010
To identify credit availability we analyze the extensive and intensive margins of lending with loan applications and … resultant credit restriction by turning to other banks. Importantly the bank-lending channel is notably stronger when we account …
Persistent link: https://www.econbiz.de/10013144899
Cover Image
Monetary and Macroprudential Policy with Foreign Currency Loans
Brzoza-Brzezina, Michał - 2015
In a number of countries a substantial proportion of mortgage loans is denominated in foreign currency. In this paper we demonstrate how their presence affects economic policy and agents' welfare. To this end we construct a small open economy model with housing loans denominated in domestic or...
Persistent link: https://www.econbiz.de/10013020804
Cover Image
Corporate Debt Structure and the Financial Crisis
De Fiore, Fiorella; Uhlig, Harald - 2015
We present a DSGE model where firms optimally choose among alternative instruments of external finance. The model is used to explain the evolving composition of corporate debt during the financial crisis of 2008-09, namely the observed shift from bank finance to bond finance, at a time when the...
Persistent link: https://www.econbiz.de/10011605804