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-dimensioned and reversible process. Some dimensions, such as increased household access to consumer credit or housing finance, can …
Persistent link: https://www.econbiz.de/10012861328
Traditional structural models cannot distinguish whether changes in activity are a function of altered expectations today or lagged responses to past plans. Polynomial-adjustment-cost (PAC) models remove this ambiguity by explicitly separating observed dynamic behaviour into movements that have...
Persistent link: https://www.econbiz.de/10005808324
Comme l’a montré la crise actuelle, les marchés immobiliers sont à l’origine de chocs macroéconomiques importants, ce qui justifie un suivi régulier du double point de vue de la politique monétaire et de la stabilité financière.
Persistent link: https://www.econbiz.de/10009209783
La crise mondiale et celle, plus récente, dans la zone euro ont eu tendance à raccourcir l’horizon prévisionnel et décisionnel de nombreux agents économiques. Dans le même temps, les incertitudes (sur l’emploi, les retraites…) poussent plutôt à la remontée du taux d’épargne des...
Persistent link: https://www.econbiz.de/10008871993
The Central Bank of Congo (BCC) lowered policy rate in response to uncertainty surrounding COVID-19. The impact of the pandemic on the economy is uncertain and depends on several factors. This cut in the policy rate would not help the economy to limit the fallout from COVID-19, so we should...
Persistent link: https://www.econbiz.de/10015252446
This article puts forward a framework based primarily on probabilistic tools to analyse the nature of housing loan … cycles in France. The continued high growth rate of housing loans may indeed raise concerns as to the duration and … many respects. One the one hand, it is the longest housing loans cycle observed over the last thirty years, while its …
Persistent link: https://www.econbiz.de/10004998836
This article aims at estimating leading indicators of the American economy with financial variables. We use two types of hidden Markov chains models, a quantitative one (Krolzig (1997)) and a qualitative one (Gregoir and Lenglart (2000)). These models provide a robust and reliable framework to...
Persistent link: https://www.econbiz.de/10005056509
Aux États-Unis, l’information issue des séries financières, qui reflètent les anticipations des agents basées sur l’information économique disponible, permet de bien prévoir la survenance de retournements conjoncturels.
Persistent link: https://www.econbiz.de/10009220164