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Firms' investment decisions in response to demand and price uncertainty
Fuss, Catherine; Vermeulen, Philip - 2004
We estimate the effect of demand and price uncertainty on firms’ investment decisions from a panel of manufacturing firms. Uncertainty measures are derived from firms’ subjective qualitative expectations. They are close to their theoretical counterparts, the variances of future demand and...
Persistent link: https://www.econbiz.de/10009639401
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currency risk, legal harmonization, or trade?
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010
euro’s impact on financial integration is primarily driven by eliminating the currency risk. Legislative …
Persistent link: https://www.econbiz.de/10009640324
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Which households use banks?
Beck, Thorsten; Brown, Martin - 2011
services is related to household characteristics, bank ownership structure and the development of the financial infrastructure …. At the household level we find that the holding of a bank account or bank card increases with income, wealth and … integration. Our results show that foreign bank ownership is associated with more bank accounts among high-wealth, high …
Persistent link: https://www.econbiz.de/10009640628
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Financial advice and stock market participation
Georgarakos, Dimitris; Inderst, Roman - 2011
We introduce professional financial advice in households’ choice to hold risky financial assets. Consistent with the predictions from a formal model, we present evidence that households’ trust in financial advice only matters when their perceived own financial capability is low. Instead, for...
Persistent link: https://www.econbiz.de/10009640629
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How frequently do prices change?
Aucremanne, Luc; Dhyne, Emmanuel - 2004
This paper examines the degree of price rigidity in Belgian consumer prices, using a large database. As to the observed degree of rigidity, the results reveal a substantial amount of heterogeneity, not only across but also within product categories. While prices turn out to be perfectly flexible...
Persistent link: https://www.econbiz.de/10009636700
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Explaining the money demand of non-financial corporations in the Euro area
Martinez-Carrascal, Carmen; Landesberger, Julian von - 2010
long-term interest rate on bank lending to non-financial corporations, the own rate of return on M3 and the real capital …
Persistent link: https://www.econbiz.de/10009640283
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Household money holdings in the euro area
Seitz, Franz; Landesberger, Julian von - 2010
In this paper we analyse household holdings of the broad monetary aggregate M3 in the euro area from 1991 until 2009. We develop four models, two in nominal, two in real terms, with satisfactory economic and statistical properties. The main determinants are a transactions variable, wealth...
Persistent link: https://www.econbiz.de/10009640302
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Wages, labor or prices
Dhyne, Emmanuel; Druant, Martine - 2010
Survey results in 15 European countries for almost 15,000 firms reveal that Belgian firms react more than the average European firm to adverse shocks by reducing permanent and temporary employment. On the basis of a firm-level analysis, this paper confirms that the different reaction to shocks...
Persistent link: https://www.econbiz.de/10009640316
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Price and wage setting in Portugal : learning by asking
Martins, Fernando - 2011
This paper presents the main findings of a survey conducted on a sample of Portuguese firms. The main aim was to identify some relevant characteristics about the dynamics of prices and wages in Portugal. The most important conclusions are: i) changes to wages are more synchronized than changes...
Persistent link: https://www.econbiz.de/10009640690