Interest Rate Pass‐Through and Monetary Transmission: Evidence from Individual Financial Institutions' Retail RatesEconomica - Tập 71 Số 281 - Trang 99-123 - 2004
Boris Hofmann, Paul Mizen
Official interest rate changes should influence short rates on money market instruments and retail products, such as deposit accounts and mortgages, but complete pass‐through is often taken for granted. This paper provides a theoretical and econometric framework for assessing the evidence for this assumption using seventeen years of monthly data for rates on thirteen deposit and mortgage p...... hiện toàn bộ
Modelling British Interest Rate Adjustment: An Error Correction ApproachEconomica - Tập 64 Số 254 - Trang 211-231 - 1997
Shelagh A. Hefferman
An error correction model is used to capture the dynamics of British retail deposit and loan rate responses to changes in the central bank’s base rate. The test is conducted using a monthly series of interest rates for four generic retail banking products over the period 1986–93. The adjustment process is found to vary considerably between and within banks and products. The results suggest...... hiện toàn bộ
Investment and Uncertainty: Precipitating the Great Depression in the United StatesEconomica - Tập 73 Số 291 - Trang 393-412 - 2006
David Greasley, Jakob B. Madsen
A severe collapse of fixed capital formation distinguished the onset of the Great Depression from other investment downturns between the world wars. Using a model estimated for the years 1890–2000, we show that the expected profitability of capital measured by Tobin's q, and the uncertainty surrounding expected profits indicated by share price volatility, were th...... hiện toàn bộ
Being Independent is a Great Thing: Subjective Evaluations of Self‐Employment and HierarchyEconomica - Tập 75 Số 298 - Trang 362-383 - 2008
Matthias Benz, Bruno S. Frey
One can be independent, or one can be subject to decisions made by others. This paper argues that this difference, embodied in the institutional distinction between the decision‐making procedures ‘market’ and ‘hierarchy’, affects individual wellbeing beyond outcomes. Taking self‐employment as an important case of independence, it is shown that the self‐employed derive higher satisfaction f...... hiện toàn bộ
The Race to the Bottom, from the BottomEconomica - Tập 73 Số 290 - Trang 193-228 - 2006
Nancy H. Chau, Ravi Kanbur
The dominant perspective in discussions of labour and environmental standards and globalization is that of North–South competition and its impact on Northern standards. This paper presents an alternative perspective, that of South–South competition to export to the North and its impact on Southern standards. It develops a simple model of Southern competition, and demonstrates that whether ...... hiện toàn bộ