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Displaying results 1 to 3 of 3.

  1. From financial to real economic crisis
    evidence from individual firm–bank relationships in Germany
    Author: Dwenger, Nadja; Fossen, Frank M.; Simmler, Martin
    Published: 2015
    Publisher:  Oxford University Centre for Business Taxation, Oxford

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: Working paper / Oxford University Centre for Business Taxation ; 15,16
    Subjects: financial crisis; contagion; credit rationing; relationship lending; investment
    Scope: Online-Ressource (51, [4] S.), graph. Darst.
  2. Financial frictions and foreign direct investment
    theory and evidence from Japanese microdata
    Author: Raff, Horst; Ryan, Michael; Stähler, Frank
    Published: 2015
    Publisher:  Kiel Inst. for the World Economy, Kiel

    We use Japanese microdata to examine how financial market frictions affect foreign direct investment (FDI). The Japanese land price bubble and banking trouble in the late 1980s and early 1990s serve as a quasi natural experiment to identify two... more

    Location:
    Staats- und Universitätsbibliothek Bremen
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    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
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    Location:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
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    Location:
    Universitätsbibliothek Kiel, Zentralbibliothek
    Signature:
    EWP 1
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    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 3 (1992)
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    We use Japanese microdata to examine how financial market frictions affect foreign direct investment (FDI). The Japanese land price bubble and banking trouble in the late 1980s and early 1990s serve as a quasi natural experiment to identify two possible transmission channels from financial shocks to FDI: (i) a collateral channel, whereby changes in the value of collateral affect investors’ ability to borrow; and (ii) a lending channel, whereby changes in bank health affect banks’ ability to lend. We find evidence that both transmission channels are statistically significant and economically important.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/107904
    Series: Kiel working paper ; 1992
    Subjects: Foreign direct investment; multinational enterprise; financing; credit rationing; collateral; bank health; Japan
    Scope: Online-Ressource (35 S.), graph. Darst.
  3. Student loans and the allocation of graduate jobs
    Author: Cigno, Alessandro; Luporini, Annalisa
    Published: 2015
    Publisher:  CESifo, München

    Higher education is not just a signal of innate ability. At least a certain level of educational achievement (degree level, degree mark) is strictly required to perform a graduate job. School leavers fall into two categories, the rich and the poor.... more

    Location:
    Staats- und Universitätsbibliothek Bremen
    Inter-library loan:
    No inter-library loan

    Location:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Inter-library loan:
    No inter-library loan

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 63 (5230)
    Inter-library loan:
    No inter-library loan

     

    Higher education is not just a signal of innate ability. At least a certain level of educational achievement (degree level, degree mark) is strictly required to perform a graduate job. School leavers fall into two categories, the rich and the poor. Ability is distributed in the same way in both groups. Graduate jobs are differentiated by quality. The output of each graduate job-worker match depends on the worker's ability and educational achievement as well as on the quality of the job. Individual wealth and ability are private information. Educational achievement and realized productivity are common knowledge. Graduates and graduate jobs are matched by tournament. In laissez faire, only the rich can buy enough education and enter the tournament. The poor are confined to the non-graduate labour market. This is doubly inefficient because some of the rich buy too much education, and some of the graduates have lower ability than some of the non-graduates. Student loans allow the more able among the poor to buy a higher education, discourage the less able among the rich from so doing, and bring individual education investments closer to their efficient levels. Unless the loan is large enough to allow a poor school leaver to invest as much, and thus get as good a job, as a rich one of the same ability, however, jobs of the same quality are assigned to graduates with the same education but different ability. Competition among employers will then result in poor graduates being paid a higher salary than rich graduates doing the same job.

     
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    Content information
    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/108780
    Series: Array ; 5230
    Subjects: higher education; matching tournaments; credit rationing; separating equilibria
    Scope: Online-Ressource ([1], 27 S.), graph. Darst.