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Financing constraints and firms' cash policy in the euro area
Pál, Rozália (contributor); Ferrando, Annalisa (contributor) - 2006
This paper investigates the financing conditions of non-financial corporations in the euro area. We develop a new firm classification based on micro data by distinguishing between three groups of firms: unconstrained, relatively and absolutely constrained firms. We also provide further evidence...
Persistent link: https://www.econbiz.de/10003337260
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The effect of financial development on the investment cash flow relationship : cross-country evidence from Europe
Becker, Bo (contributor); Sivadasan, Jagadeesh (contributor) - 2006
We investigate financing constraints in a large cross-country data set covering most of the European economy. Firm level investment sensitivity to cash flow is used to identify financing constraints. We find that the sensitivities are significantly positive on average, controlling for country...
Persistent link: https://www.econbiz.de/10003396748
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Fiscal activism in the euro area and in other advanced economies : new evidence
Attinasi, Maria Grazia; Palazzo, Alessandra Anna; … - 2019
advanced economies during the past 20 years. This is done by estimating fiscal reaction functions using dynamic panel …
Persistent link: https://www.econbiz.de/10012135940
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Monetary policy transmission over the leverage cycle : evidence for the euro area
Bräuer, Leonie; Rünstler, Gerhard - 2020
We study state dependence in the impact of monetary policy shocks over the leverage cycle for a panel of 10 euro area … countries. We use a Bayesian Threshold Panel SVAR with regime classifications based on credit and house prices cycles. We find …
Persistent link: https://www.econbiz.de/10012241107
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Responses to monetary policy shocks in the east and the west of Europe : a comparison
Jarociński, Marek - 2008
the NMS, by using a Bayesian estimation that combines information across countries. The impulse responses in the NMS are …
Persistent link: https://www.econbiz.de/10003825885
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Do EU structural funds promote regional employment? : evidence from dynamic panel data
Mohl, Philipp; Hagen, Tobias - 2011
impact of EU structural funds on employment drawing on a panel dataset of 130 European NUTS regions over the time period 1999 … dynamic panel econometric approaches to control for heteroscedasticity, serial and spatial correlation as well as for … funds ; dynamic panel models ; spatial panel econometrics ; regional employment effects …
Persistent link: https://www.econbiz.de/10009405602
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How flexible are real wages in EU countries? : a panel investigation
Heinz, Frigyes Ferdinand; Rusinova, Desislava - 2011
In this paper we estimate the degree of real wage flexibility in 19 EU countries in a wage Phillips curve panel … within the EU. - Real wage flexibility ; bargaining institutions ; central and eastern Europe ; euro area ; panel …
Persistent link: https://www.econbiz.de/10009238022
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3-step analysis of public finances sustainability : the case of the European Union
Afonso, António (contributor);  … - 2008
specific panel unit root test to investigate the meanreverting behaviour of general government expenditure and revenue ratios …. Secondly, we apply the bootstrap panel cointegration techniques that account for the time series and cross … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …
Persistent link: https://www.econbiz.de/10003782655
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Stress-testing net trading income : the case of European banks
Giglio, Carla; Shaw, Frances; Syrichas, Nicolas; … - 2021
Net trading income is an important but volatile source of income for many euro area banks, highly sensitive to changes in financial market conditions. Using a representative sample of European banks, we study the distribution of net trading income (normalized by total assets) conditional to...
Persistent link: https://www.econbiz.de/10012429194
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Determinants of firms' efficiency: do innovations and finance constraints matter? : the case of European SMEs
Bonanno, Graziella; Ferrando, Annalisa; Rossi, Stefania - 2020
This paper aims at investigating the relationship between firms' profit efficiency, access to finance and innovation activities. We enrich our understanding on firms' performance by adopting the stochastic frontier approach (SFA), which allows us to estimate profit functions and to obtain...
Persistent link: https://www.econbiz.de/10012241105