Skip to content!

Search

clear
0 filter(s) selected
close
Go to page
remove add
  • Diskussionspapiere 615 / 2006

    Sticky Information Phillips Curves: European Evidence

    We estimate the sticky information Phillips curve model of Mankiw and Reis (2002) using survey expectations of professional forecasters from four major European economies. Our estimates imply that inflation expectations in France, Germany and the United Kingdom are updated about once a year, in Italy about once each six months.

    2006| Jörg Döpke, Jonas Dovern, Ulrich Fritsche, Jiri Slacalek
  • Diskussionspapiere 631 / 2006

    European Regional Convergence in a Human Capital Augmented Solow Model

    In this paper, the process of productivity convergence is investigated for the enlarged European Union using regional (NUTS-2) data. The Solow model extended by human capital is employed as a workhorse. Alternative strategies are proposed to control for spatial effects. All specifications confirm the presence of convergence with an annual speed between 3 and 3.5 percent towards regional steady states. ...

    2006| Hans-Friedrich Eckey, Christian Dreger, Matthias Türck
  • Refereed essays Web of Science

    Relationship Banking and SMEs: A Theoretical Analysis

    Reliable information on small- and medium-sized enterprises (SMEs) is rare and costly for financial intermediaries. Therefore relationship banking is often considered as the appropriate lending technique. In this paper we offer a theoretical model to analyze relationship banking and the pricing behavior of banks in a Bertrand competition framework with monitoring costs. We show that the lack of reliable ...

    In: Small Business Economics 27 (2006), 2-3, S. 127-137 | Timo Baas, Mechthild Schrooten
  • Diskussionspapiere 647 / 2006

    What Drives Personal Consumption? The Role of Housing and Financial Wealth

    I construct a new dataset with financial and housing wealth in 16 countries and investigate the effect of wealth on consumption. The baseline estimation method based on the sluggishness of consumption growth implies that the long-run marginal propensity to consume out of total wealth averaged across countries is 5 cents. I find substantial heterogeneity in the wealth effects: the individual country ...

    2006| Jiri Slacalek
  • Externe Monographien

    Representative Wealth Data for Germany: The Impact of Methodological Decisions around Imputation and the Choice of Aggregation Unit

    Luxembourg: Luxembourg Wealth Study Conference, 2007, 31 S. | Joachim R. Frick, Markus M. Grabka, Eva M. Sierminska
  • Diskussionspapiere 443 / 2004

    Macroeconomic Uncertainty and Firm Leverage

    This paper investigates the link between the optimal level of nonfinancial firms' leverage and macroeconomic uncertainty. We develop a structural model of a firm's value maximization problem that predicts that as macroeconomic un-certainty increases the firm will decrease its optimal level of borrowing. We test this proposition using a panel of non{financial US firms drawn from the COM-PUSTAT quarterly ...

    2004| Christopher F. Baum, Andreas Stephan, Oleksandr Talavera
  • Externe Monographien

    Macroeconomic Uncertainty and Firm Leverage

    Chestnut Hill, Mass.: Boston College, Department of Economics, 2004, 23 S.
    (Boston College Working Papers in Economics ; 602)
    | Christopher F. Baum, Andreas Stephan, Oleksandr Talavera
  • Externe Monographien

    The Stock-Flow Approach to the Real Exchange Rate of CEE Transition Economies

    Paris: CEPII, 2004, 41 S.
    (Working Paper / CEPII ; 2004,15)
    | Bálazs Égert, Amina Lahrèche-Révil, Kirsten Lommatzsch
  • Diskussionspapiere 469 / 2005

    Relationship Banking and SMEs: A Theoretical Analysis

    Reliable information on small and medium sized enterprises (SMEs) is rare and costly for financial intermediaries. To compensate for this, relationship banking is often considered as the appropriate lending technique in the case of SMEs. In this paper we offer a theoretical model to analyze the pricing behavior of banks in a Bertrand competition framework with monitoring costs. We show that the lack ...

    2005| Timo Baas, Mechthild Schrooten
  • Externe Monographien

    Macroeconomic Uncertainty and Firm Leverage

    Frankfurt/Oder: Universität, 2004, 23 S.
    (Capital Markets and Finance in the Enlarged Europe : The Postgraduate Research Programme Working Paper Series ; 19/2004)
    | Christopher F. Baum, Andreas Stephan, Oleksandr Talavera
keyboard_arrow_up