britain s housing and the business cycle

... Norges Bank, the Norwegian School of Economics and Business Administration (NHH), Statistics Norway (SSB), CREST and the Universities of Oslo, Stavanger and Aarhus (CREATES) for comments Ødegaard ... increases in the quarter just before the NBER recessions starts.However, consistent with the regression results, the information in market volatility seemssmall compared to the other variables In the ... during and after US recessions averaged across all the 10 NBER recessions (shaded area) in our samplefrom 1947-2008.16 This style of analysis also lets us give some informative comparisons of the

Ngày tải lên: 25/08/2024, 06:46

... causality tests where the null hypothesis is that GDP growth does not Granger cause the liquidity variables Similarly, columns four and five show the results when the null hypothesis is that the ... time as the Norwegian data start All series stop at the end of 2008. Time-series Liquidity Specifications In Subsection I.D of the paper we discuss our choices of time-series transformations of ... examine the robustness of the responsefunction to different orderings of the endogenous variables 5 Additional U.S Size Results We report estimation results for liquidity measures constructed separately

Ngày tải lên: 25/08/2024, 06:46

... entrepreneurs, its shock increases business investment Third experiment is the capital price shock with a news shock The news shock occurs in period That is, although ones expects the capital ... from the final goods producer and from labor unions, and  t is the inflation rate in the consumption goods sector De Bandt and Davis (2000) and Claessens and Leaven (2004) suggest that banks may ... increase On the contrary, in the Basel II system, since risk weight  depends on the capital price and its effect is negative, the bank can increase loans That is, credit supply increases and therefore,

Ngày tải lên: 01/02/2020, 22:26

... studies to estimate the cost of disease and disability from diseases linked to the environment and the benefits of expected actions and communicate the results to policy-makers Promote awareness, ... forums relating to child health and well-being, as well as international fora and processes addressing environment issues (i.e mercury and hazardous wastes) and broader global challenges such as ... collect and report new observations of CEH hazards and outcomes Develop a standard tool for estimating the cost of diseases due to environmental hazards Develop estimates of the disability effects

Ngày tải lên: 14/03/2014, 11:20

... aims to complement these studies by studying long run mortality effects The paper is organized as follows Section presents the data and discusses variables that we use in the analyses Section displays ... tuberculosis, other infectious diseases, diseases of the respiratory, digestive or uro-genital system, suicide, or accidents) The first of these three death causes is the most prominent in our sample ... severe recession Another issue is whether the composition of the (twin) birth cohorts systematically varies over the business cycle We investigate this by examining fluctuations in birth rates and twinning

Ngày tải lên: 17/03/2014, 08:20

... equations, discusses their relations, and then derives explicit expressions for the quasi-TE and quasi-TM modes. It shows formulations of E x and H y expressions for the quasi-TE (transverse electric) ... that they can be easily understood by readers who are not familiar with them. Furthermore, the errors and stabilities of the solutions are discussed as clearly and concisely as possible. Someone ... rendering professional services. If professional advice or other expert assistance is required, the services of a competent professional person should be sought. ISBN 0-471-22160-0 This title is also available

Ngày tải lên: 17/03/2014, 14:41

... indicators in three thematic areas: (1) asthma and respiratory disease; (2) lead and other chemicals, including pesticides; and (3) waterborne diseases. These areas refl ect the priorities set by the ... indicators for a series of children’s health and environment issues The objective of this report is to inform decision-makers and the public as to the status of key factors related ... coordinating the development of and, in some cases, writing the bulk of, the country reports. They were assisted not only by their colleagues in the Steering Group but also by staff in various governmental

Ngày tải lên: 22/03/2014, 09:20

... report serves as an addendum to U.S. Intelligence and the Nazis; it draws upon additional documents declassified since then. The latest CIA and Army files have: evidence of war crimes and about the ... criminals, so that we hunted for evidence in their handling of individual cases Despite variations, these specific cases do show a pattern: the issue of capturing and punishing war criminals ... with the Foreign Intelligence branch of the RSHA, Husseini insisted that the Arabs take command after they landed and direct their fight against the Jews of Palestine, not the British

Ngày tải lên: 22/03/2014, 17:20

... holds under weak assumptions and generalises to a wide class of DSGE models. We proceed as follows. Sections 2.1 to 2.3 describe how we modify the standard RBC model. The implications of this assumption ... inflation and raises the ex-post real interest rate on loans. The aggregate value of loans falls by less in the presence of maturity transformation (due to the first channel) and the higher ex-post real ... structured as follows. Section 2 extends the simple RBC model with infrequent capital adjustments and analyses the implications of this assumption. This model is extended in Section 3 with a banking sector

Ngày tải lên: 22/03/2014, 21:20

... the space indicated.>> <<NOTE TO USER: This is a large set of slides from which the presenter should select the most relevant ones to use in a specific presentation. These slides ... their primary exposure to air pollution may come from air inside homes and schools rather than outdoors. There are numerous situations in homes and schools which may result in possible exposure ... characteristics. For gases, relative solubility is important. For particles, size is important. This slide shows the upper, middle and lower respiratory tract. Note that sulfur dioxide, because it is

Ngày tải lên: 23/03/2014, 00:20

... factors such as income and interest rates, but also by structural features and policies in housing and housing finance markets. These shaped the size and pattern of housing demand shocks, the responsiveness ... interventions include fiscal measures, such as taxes and subsidies; the direct provision of social housing or rent allowances; and various regulations influencing the quantity, quality and price of housing. ... larger (Andrews, 2010). During recent decades very large price increases were observed in the United Kingdom and the Netherlands – in these two countries the responsiveness of new housing supply to housing

Ngày tải lên: 23/03/2014, 20:20

... studies suggest that other environmental contaminants may play a role in the development of childhood cancers. The majority of these studies have focused on pesticides and solvents, such as ... highest for point-source HAP exposure. 28 Several other studies have found associations between leukemia and surrogate measures of exposure to motor vehicle exhaust, including traffic density and ... immune systems are at a greater risk of developing lymphomas. 3 Extensive review studies have found suggestive associations between parental, prenatal, and childhood exposure to pesticides and

Ngày tải lên: 28/03/2014, 23:20

... Plastic sacks, bags Synthetic rubber Motorcycles and Bicycles Parts of other motorcycles Motorcycles and Bicycles Bicycles and other cycles, non-motorized Specialty Office Machines Electrical and ... donors • Improve institutional capacity to evaluate and administer regulations, not just the rules themselves • Include an obligatory assessment of the administrative burden on business in the ... Components Specialty Foods and Ingredients Food Products Machinery Specialty Foods and Ingredients Dairy and Related Products Specialty Foods and Ingredients Specialty Foods and Ingredients Glass Electrical

Ngày tải lên: 30/03/2014, 02:20

... into serious difficulties as banks increased margin calls on their lines of credit, raising the threat of forced asset sales At the same time, there are rising questions about the soundness of the ... countries ends in 2007:Q2 2The banking distress and (systemic) banking crises (Finland, Japan, Norway, and Sweden) dates and classifications are based on Caprio and others (2005) 3The sample for the ... for business conditions is the rise in spreads on corporate securities As shown in Figure 1.5, such spreads have widened noticeably in recent months For higher-risk borrowers, the rise has still...

Ngày tải lên: 23/07/2014, 16:14

... of a theory of business cycles for "the present crisis is, in fact, a crisis also for the entire theory of business cycles." * The theory of business cycles here set forth, it is believed, is not ... banks in the system are possessed of excess reserves and use them simultaneously to buy bonds issued by the Government the expansion is more widespread and proceeds more rapidly Thus it is This ... dollars, becomes excess reserve for the Reserve Banks On the basis of such excess reserve the Reserve Banks are able to increase their deposits, and hence the new reserves of the member banks, by the...

Ngày tải lên: 01/11/2014, 19:39

... banks boost the increase in risk-weighted assets even in business cycle downturns, savings banks dampen the increase in risk-weighted assets in business cycle downturns, thereby moderating the ... cooperative banks and run regressions on each of these subsamples separately As the results for the other business cycle indicators are qualitatively the same, we only present the results for the output ... of the business cycle on the capital buffers of Spanish banks, which they interpret as shortsightedness of banks In contrast, Lindquist (2003) finds a positive effect of the business cycle on the...

Ngày tải lên: 15/03/2014, 09:20

... unemployment and vacancies and wage stickiness Indeed, some authors argue that the Mortensen-Pissarides [Mortensen and Pissarides (1994) and Pissarides (2000)] search and matching model cannot explain the ... Portuguese wage setting system In Section the data set and methodology are described The main results and some robustness checks are discussed in Section Conclusions are outlined in Section The Architecture ... the estimates of the s On the other hand, if the least squares solution for β were known, we could easily obtain least squares estimates for the α The normal equations show that these are simply...

Ngày tải lên: 15/03/2014, 22:20

... of a theory of business cycles for "the present crisis is, in fact, a crisis also for the entire theory of business cycles." * The theory of business cycles here set forth, it is believed, is not ... banks in the system are possessed of excess reserves and use them simultaneously to buy bonds issued by the Government the expansion is more widespread and proceeds more rapidly Thus it is This ... dollars, becomes excess reserve for the Reserve Banks On the basis of such excess reserve the Reserve Banks are able to increase their deposits, and hence the new reserves of the member banks, by the...

Ngày tải lên: 05/11/2014, 11:16

... durations across sectors/types of goods, with services being associated with the largest degree of price rigidities, and unprocessed food and energy with the smallest The literature also contains several ... which they can adjust the prices of the goods and services they sell Alternatively, firms may face some costs of adjusting those prices The same kind of friction applies to workers in the presence ... of a stochastic process for all the economy s endogenous variables consistent with optimal intertemporal decisions by households and firms, given their objectives and constraints and with the clearing...

Ngày tải lên: 03/04/2017, 13:08

... on the scientific basis, framework and scope of the system, and presents plans for future action The use of the system is highlighted by presenting its main product: an indicator-based assessment ... issues which are new or re-emerging and are associated with changes in behaviour, social structures and the situation in countries For each RPG, the assessment addresses the following issues: ... INDICATOR-BASED ASSESSMENT AND THE QUESTIONS IT ANSWERS Children s health and the environment in Europe: a baseline assessment is based on policy-relevant indicators and information available in the system...

Ngày tải lên: 12/02/2014, 12:20