Suche
Anzeige der Dokumente 1-3 von 3
Liquidity Coinsurance and Bank Capital
(2014-03-01)
Banks can deal with their liquidity risk by holding liquid assets (self-insurance), by participating in interbank markets (coinsurance), or by using flexible financing instruments, such as bank capital (risk-sharing). We ...
The Time for Austerity: Estimating the Average Treatment Effect of Fiscal Policy
(2014-04-01)
After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty ...
The Output Effect of Fiscal Consolidation Plans
(2014-10-01)
We show that the correct experiment to evaluate the effects of a fiscal adjustment is the simulation of a multi year fiscal plan rather than of individual fiscal shocks. Simulation of fiscal plans adopted by 16 OECD countries ...