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Capital Prices and Eurozone Competitiveness Differentials

Askenazy, Philippe - 2013

Competitiveness differentials are blamed for the instability of the Eurozone. Most of the analyses focus on labour …

Persistent link: https://www.econbiz.de/10013086230

Financial Crises and Liberalization : Progress or Reversals?

Saka, Orkun - 2019

Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for...

Persistent link: https://www.econbiz.de/10012868012

Stock Market Returns and Consumption

Di Maggio, Marco - 2018

stock market returns. We instrument the actual capital gains and dividend payments with past portfolio weights. Unrealized … a flat 5 percent for the rest of the distribution. Households' consumption is significantly more responsive to dividend …

Persistent link: https://www.econbiz.de/10012925516

Reputation and Credit Market Formation : How Relational Incentives and Legal Contract Enforcement Interact

Fehr, Ernst - 2009

The evidence suggests that relational contracting and legal rules play an important role in credit markets but on the basis of the prevailing field data it is difficult to pin down their causal impact. Here we show experimentally that relational incentives are a powerful causal determinant for...

Persistent link: https://www.econbiz.de/10013157034

Mortgage Finance and Culture

Rodríguez-Planas, Núria - 2018

Using a nationally representative sample of 12,344 immigrants from 41 different countries of ancestry living in Spain in 2007, we find that the higher the housing-loan penetration in the country of ancestry, the higher the likelihood of having a mortgage in Spain. Similarly, the higher the...

Persistent link: https://www.econbiz.de/10012926734

Finance and Growth at the Firm Level : Evidence from SBA Loans

Brown, J. David - 2015

We analyze linked databases on all Small Business Administration (SBA) loans, on all SBA lenders, and on all U.S. employers to estimate the effects of financial access on employment growth. Our methods combine regressions with matching on firm age, size, industry, year, and employment history,...

Persistent link: https://www.econbiz.de/10013016226

How Successful are Banking Sector Reforms in Emerging Market Economies? Evidence from Impact of Monetary Policy on Levels and Structures of Firm Debt in India

Bhaumik, Sumon Kumar - 2016

that well-functioning credit markets would reflect a bank channel for monetary policy at work, we test whether a change in … and the associated change in interest rate does not affect change in bank credit, change in total debt and the proportion … of bank credit in total debt for any of the firms. We discuss the policy implications of the findings …

Persistent link: https://www.econbiz.de/10012988130

Do SBA Loans Create Jobs?

Brown, J. David - 2013

Small Business Administration (SBA) loans have long been one of the most significant policy interventions in the U.S. affecting firm behavior, but little is known about their outcomes. This paper estimates the effects on employment using a list of all SBA loans linked to annual data on all U.S....

Persistent link: https://www.econbiz.de/10013077297

Does the Community Reinvestment Act Increase Small Business Lending in Lower Income Neighborhoods?

Kim, Mee Jung; Lee, Kyung Min; Earle, John S. - 2022

We estimate the impact of the Community Reinvestment Act (CRA) on small business lending in lower-income neighborhoods. Using 2004-2016 panel data on census tracts, we apply a combined regression discontinuity and fixed effect method. We find that the number of small business loans increases by...

Persistent link: https://www.econbiz.de/10013406859

Mortgage Finance in Central and Eastern Europe : Opportunity or Burden?

Beck, Thorsten - 2010

Household credit, especially for mortgages, has doubled over the past years in the new European Union member countries, raising concerns about the economic and social consequences of household indebtedness in the event of a macroeconomic crisis. Using household survey data for 2005, 2006, and...

Persistent link: https://www.econbiz.de/10013147559