Credit Frictions
Optimal labor income tax volatility with credit frictions
... the credit constraint lead to a (static) wedge between the marginal product of labor and the marginal rate of substitution between labor and ...the credit market is more tightened and higher when the ...
25
Optimal Interest Rate Rules, Asset Prices and Credit Frictions
... of credit frictions (solid ...which credit markets are frictionless, credit frictions operate here in the direction of dampening the response of inflation to technology ...the ...
43
Optimal labor income tax volatility with credit frictions
... the credit constraint lead to a wedge between the marginal product of labor and the marginal rate of substitution between labor and ...the credit market is more tightened and higher when it is less ...more ...
33
Credit Frictions and Labor Market Dynamics
... for credit frictions and a demand side aspect to labor market fluctuations, in light of the contributions of the credit frictions, labor search fric- tions and New Keynesian ...prices, ...
34
The Effects of International Financial Integration in a Model with Heterogeneous Firms and Credit Frictions
... market frictions are a threefold impediment to economic activity in our model economy: Firstly, agents are restrained from smoothing their intertemporal consumption path by borrowing and ...Secondly, ...
25
Essays on Macroeconomics of Banking: Credit Frictions, Business Cycle and Bank Capital
... borrowers’ credit risk evolves over the business ...financial frictions when raising ...of credit risk and, consequently, facing different conditions when borrowing from ...on credit risk, we ...
191
Credit frictions and the macroeconomy
... So we find that regulation has a number of costs and benefits for economic agents. The main benefits involve reducing the inefficient volatility of output and consump tion which arises from the workings of the ...
176
Sunspots and Credit Frictions
... and credit takes on the following ...to credit from the banking sector. The credit constraint stands in for a lack of contract enforcement, which limits the amount of credit …rms can obtain ...
22
Essays on credit frictions and the macroeconomy
... of credit standards caused the US housing boom, econometric attempts to show this have been largely inconclusive, as have attempts to explain the boom in terms of falling real interest ...signi…cant credit ...
231
Information and credit frictions in financial markets
... These papers usually take repurchase agreements as given while we want to understand their emergence as a funding instrument. One natural question is to ask why borrowers do not simply sell the collateral to lenders? ...
159
Essays on Fiscal and Macro-prudential Policies with Credit Market Frictions: Theory and Empirics
... of credit frictions. During this period credit spreads increased significantly in many countries, for example the spreads in the Euro zone have increased by 200 basis points, while they have ...
123
Taxation, credit constraints and the informal economy
... to credit markets and must pay taxes – or in the informal sector – in which they can avoid paying taxes, but have no access to credit ...of credit frictions and taxation on occupational ...
13
Resaleable debt and systemic risk
... decreasing credit market frictions leads to an increase in borrowing via non-resaleable ...causes credit chains to form, since if a bank makes a loan via non-resaleable debt and needs liquidity, it ...
52
Financial Frictions and Credit Spreads
... that credit frictions exist, and that central bank policies should be identified according to whether or not the composition of its balance sheet is affected, are especially appealing under the current ...
42
The role of financing frictions in agricultural investment decisions: an analysis pre and post financial crisis
... extend credit to older farmers given their closeness to retirement and ceasing economic activity in which case the result for older farmers is contrary to ...demand credit to finance investment resulting in ...
17
Relative productivity and search unemployment in an open economy
... search frictions to disentangle the implications of workers’ mobility costs and labor market institutions following higher relative productivity of ...market frictions across economies, we find that both ...
130
The role of fundamental Q and financing frictions in agricultural investment decisions: an analysis pre and post financial crisis
... eases credit constraints by influencing the decision of lenders to take off-farm employment into account when making loan ...extend credit if the farmer is not running his operation as a profit maximising ...
43
"Investment Frictions versus Financing Frictions"
... investment frictions to contrast the role of …nancing fric- tions to investment ...any frictions in our model, the capital stock got the additional role of providing the vehicle of corporate ...
37
International Capital Flows and Credit Market Imperfections: a Tale of Two Frictions
... allocating credit? Our model highlights that some of these problems, like excessive investment and the resulting volatility associated with it, can only arise precisely where financial markets surpass a minimum ...
34
Stabilizing Fiscal Policies with Capital Market Imperfections
... under credit constraints, appropriate fiscal policy parameters are able to rule out the occurrence of slump regimes, and immunize the economy against endogenous ...the credit market development, we provide ...
34