Results 241 to 250 of about 97,715 (338)

Do temporary changes in earnings caused by mean reversion affect firms’ refinancing decisions?

open access: yesJournal of Financial Research, EarlyView.
Abstract We develop a dynamic two‐stage trade‐off model with refinancing when earnings are mean reverting. Our model predicts a negative relation between profitability and leverage at refinancing due to conservative debt increases. With multiple rounds of refinancing, the leverage–profitability relation may turn positive when firms have substantial ...
Elettra Agliardi   +3 more
wiley   +1 more source

Financial Fragility and the Fiscal Multiplier

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract We show that undercapitalized banks with large holdings of government bonds subject to sovereign default risk lead to a new crowding‐out channel: deficit‐financed fiscal stimuli lead to higher bond yields, triggering capital losses for the banks. Banks then cut back loans, which reduces fiscal multipliers.
CHRISTIAAN VAN DER KWAAK   +1 more
wiley   +1 more source

Heterogeneity in Imperfect Inflation Expectations: Theory and Evidence from a Novel Survey

open access: yesJournal of Money, Credit and Banking, EarlyView.
Abstract Using survey data from Germany, we study heterogeneity in how households form inflation expectations. We elicit (i) uncertainty in perceptions of current inflation and (ii) how persistent households perceive inflation to be. Combining these with standard survey questions on inflation, we infer laws of motion for expectations at the individual ...
ALISTAIR MACAULAY, JAMES MOBERLY
wiley   +1 more source

Empirical Literature on Fiscal Multipliers: A Bibliometric Approach, 2002–2023

open access: yesJournal of Economic Surveys, EarlyView.
ABSTRACT This paper reviews the empirical literature on fiscal multipliers through a bibliometric approach, analyzing 337 journal articles published between 2002 and 2023. The articles are categorized based on empirical methodologies, fiscal shock identification strategies, geographic focus, exchange rate arrangements, and macro‐financial regime ...
Margarida Correia Varela   +1 more
wiley   +1 more source

Integrated Surveillance for Human and Animal Brucellosis in Kenya: A Predictive Analysis. [PDF]

open access: yesTrop Med Infect Dis
Kahariri S   +9 more
europepmc   +1 more source

The Monetary Policy–Commodities Nexus: A Survey

open access: yesJournal of Economic Surveys, EarlyView.
ABSTRACT This survey synthesizes evidence on the bidirectional links between commodity markets and monetary policy. On the commodities‐to‐policy side, we review how shocks to energy, food, and metals pass through to inflation, inflation expectations, economic activity, and financial stability in state‐dependent ways that vary by shock type, exposure ...
Martin T. Bohl   +2 more
wiley   +1 more source

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