pro-cyclical
Is the Fiscal Policy of the Czech Republic Pro-cyclical?
... marking pro-cyclical policy anti-cyclical and vice versa, is ...distinctively pro-cyclical or anti-cyclical fi scal policies in our ...
10
Measures aimed at mitigating pro cyclical effects of the Capital Requirements Framework: counter cyclical capital buffer proposals
... counter cyclical capital buffers – the principal focus being the need to mitigate pro cyclical ...such pro cyclical effects arise and why they need to be ...mitigating pro ...
17
Pro Cyclical Banking Leverage in France: On its Existence and Management
... In [8] the liquidity channel is defined as the mechanism that transmits shocks from the banking system to the real economy which is set off by self-reinforcing mutual feedbacks between assets markets and banks’ balance ...
15
Entrepreneurship vulnerability to business cycle A new methodology for identification pro cyclical and counter cyclical patterns of entrepreneurial activity
... behaves pro-cyclical, which is associated with changes in risk aversion during respective phases of business ...on pro-cyclicality of self-employment cannot be ...strong pro-cyclical ...
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With a permanently pro-cyclical fiscal policy, we could lose democracy and monetary policy
... a pro-cyclical fi scal policy in Romania during periods of swift economic growth, at rates above potential, partially fueled by the fi scal policy it- ...a pro-cycli- cal fi scal policy during the ...
16
Why are aggregate equity payouts pro-cyclical?
... models endogenize low elasticity of investment, if one model predicts pro- cyclical dividends then so should the other; we confirm that here. However, we also show that the cyclicality of optimal dividend ...
35
Cyclical behavior of international fund flows
... 4 equity flows. Furthermore, the counter-cyclical behavior of fund flows has become more pronounced after the global financial crisis. Our results suggest that funds’ portfolio-rebalance strategy cannot explain ...
26
The Effect of Macroeconomic Variables on the Capital Structure Decisions of Indian Firms: A Vector Error Correction Model/ Vector Autoregressive Approach
... This paper sheds light on how the macroeconomic variables affect the capital structure decisions in context to the equity market timing theory, for the firms of an emerging economy - India. The analysis is done through ...
11
A note on the unemployment volatility puzzle : is credible wage bargaining the answer?
... In the standard search and matching frictions model of the labor market, the cost of delay to the firm is unspecified. Hall and Milgrom (2008) interpret this cost as the cost of idle capital and assume it is fixed. We ...
16
Fiscal Policy Stance in the European Union: The Impact of the Euro
... States. Cyclical conditions are captured by differentiating between years and whether the output gap is measured to have been positive (good times) or negative (bad ...that pro-cyclical fiscal ...
11
The Determinants of Economic Fluctuations in Greece: An Empirical Investigation (1995 2014)
... On the other hand, the Greek Credit andthe Greek Imports have a statistically significant positive impact on the Greek cycle, which in turn means that they exhibit a pro-cyclical character. Additionally, ...
14
The Political Economy of Car Sales in Athens, Greece
... Turning to the key dummy variables that enter our model,which characterize the macoreconomic environment of the Greek economy as well as the idiosyncratic characteristics of the Total Car Sales industry we can see that ...
13
Risk Management by the Basel Committee: Evaluating Progress made from the 1988 Basel Accord to Recent Developments
... Risk cycles are usually pro-cyclical due to misperception by banks and markets about how risks move over the period. 47 There has been worry that the new Basel Accord on banks' capital standards could ...
10
European Economy Public Finances in EMU 2008 European Economy 2008 X
... Despite the potential to smooth the cycle via fiscal discretion, the actual performance is rarely in line with the normative perspective of fiscal stabilisation (see for instance Taylor, 2000). The gap between what could ...
314
Essays On Banking And Asset Pricing
... total payouts are often negative, meaning that there are periods when the corporate sec- tor receives funds from investors rather than paying them out. Indeed, in our 1975-2014 sample total payouts go below zero about ...
159
Fiscal Policy Stance Reaction to the Financial/Economic Crisis in the EMU: The Case of Slovenia
... 0.5. Pro- and counter-cyclical fiscal policy behaviour was evaluated similarly, namely counter-cyclical fiscal policy behaviour was assigned a value of 1, whereas pro- cyclical and ...
18
Is recession bad for your mental health? The answer could be complex: evidence from the 2008 crisis in Spain
... possible pro-cyclical effects, and specifically, to investigate variation in the prevalence of mental health problems (GHQ+ caseness) in the general population in relation to variations in demographic and ...
10
forecastingbirth.pdf
... pro-cyclical hypothesis. Adsera (2004) finds that both unemployment and job instability do depress birth rates, especially among young women. Adsera (2005) argues that the gap between female and male ...
27
Cyclical Behavior of Fiscal Policy in the Western Balkans
... of pro-cyclicality with the polarization of preferences related to social ...the pro-cyclicality trap and actually become counter-cyclical, but still this has been depending on having stronger ...
16
European Fiscal Policy During the Crisis: An Irish Perspective ESRI Research Notes 2015/3/3
... decidedly pro-cyclical with the compounding effect of the austerity-type budgetary policies adopted impeding growth prospects and, in so doing, exacerbating the heightened levels of debt-to-GDP observed ...
15