Relevant bibliographies by topics / Financial accelerator

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Academic literature on the topic 'Financial accelerator'

Author: Grafiati
Published: 4 June 2021
Last updated: 17 June 2025

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Journal articles on the topic "Financial accelerator"

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Zhao, Chenyi, and Xuefei Yu. "Research on the Effect of Monetary Policy on Financial Accelerator—Based on the empirical analysis of Chinese steel enterprises." E3S Web of Conferences 235 (2021): 01064. http://dx.doi.org/10.1051/e3sconf/202123501064.

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From the perspective of principal-agent, the theory of financial acceleration holds that due to the defects of the financial market, external shocks will be amplified by the financial market and accelerate the transmission in the real economy, and the impact on small enterprises is greater than that on large enterprises. According to the theory of financial deceleration, the agency cost caused by financial friction is counter-cyclical, which restrains credit scale to some extent, prevents excessive debt, and thus alleviates external shocks. According to the empirical analysis of panel data of iron and steel enterprises and the existing empirical results of the real estate industry, it is found that there is no financial accelerator effect or financial reducer effect in the field of iron and steel enterprises. China’s financial accelerator is more focused on bubbly assets where growth is expected and continues to be overheated despite policy tightening. That would trigger a bigger debt crisis and greater economic volatility.
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Bounader, Lahcen. "The Diagnostic Financial Accelerator." IMF Working Papers 2024, no. 132 (2024): 1. http://dx.doi.org/10.5089/9798400279287.001.

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Riccetti, Luca, Alberto Russo, and Mauro Gallegati. "Leveraged network-based financial accelerator." Journal of Economic Dynamics and Control 37, no. 8 (2013): 1626–40. http://dx.doi.org/10.1016/j.jedc.2013.02.008.

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Hur, Joonyoung, and Emmanuel K. K. Lartey. "Financial openness, the financial accelerator and sectoral dynamics." International Review of Economics & Finance 42 (March 2016): 277–90. http://dx.doi.org/10.1016/j.iref.2015.11.006.

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Baková, Klára. "The Financial Accelerator in Europe after the Financial Crisis." European Journal of Business Science and Technology 4, no. 2 (2018): 143–55. http://dx.doi.org/10.11118/ejobsat.v4i2.136.

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Mody, Ashoka, and Mark P. Taylor. "Financial predictors of real activity and the financial accelerator." Economics Letters 82, no. 2 (2004): 167–72. http://dx.doi.org/10.1016/j.econlet.2002.11.001.

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House, Christopher L. "Adverse selection and the financial accelerator." Journal of Monetary Economics 53, no. 6 (2006): 1117–34. http://dx.doi.org/10.1016/j.jmoneco.2005.02.008.

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Choi, Woon Gyu, and David Cook. "Fire sales and the financial accelerator." Journal of Monetary Economics 59, no. 4 (2012): 336–51. http://dx.doi.org/10.1016/j.jmoneco.2012.04.001.

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Choi, Woon Gyu, and David Cook. "Fire Sales and the Financial Accelerator." IMF Working Papers 10, no. 141 (2010): 1. http://dx.doi.org/10.5089/9781455201242.001.

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Khvorostyanaya, A. S. "CORPORATE ACCELERATOR AS A STRATEGIC TOOL FOR THE TECHNOLOGY TRANSFER DEVELOPMENT FOR LIGHT AND FASHION INTERPRISES." Intellect. Innovations. Investments, no. 1 (2023): 32–44. http://dx.doi.org/10.25198/2077-7175-2023-1-32.

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Abstract. A corporate accelerator allows a company to realize its strategic priority in the field of technology transfer, find the best solution to existing problems, reduce costs or increase the efficiency of business processes. Access to labor, infrastructure, financial resources of an economic entity allows pilot projects to provide all the conditions for the formation of the company’s technological sovereignty. The purpose of this scientific work is to identify the theoretical foundations of the corporate accelerator tool, as well as review and analyze the best strategic domestic and foreign practices. The scientific article analyzes different types of accelerators and their strategic goals. Corporate venture accelerators are aimed at developing projects as independent business areas. Enterprise technology accelerators have the strategic goal of creating product and service providers. Internal accelerators activate the results of intellectual activity within the company. Process accelerators allow you to increase the internal efficiency of processes and facilitate interaction with external actors. Accelerators based on the venture client model allow you to quickly implement pilot projects with the customer. The strategic goals and expected results of the acceleration program must exactly match the development strategy of the company in whose interests the acceleration program is being carried out. The strategic goal-setting of acceleration programs can be very different and depends on the strategy. The analysis made it possible to formulate the key strategic principles for the use of this tool in the light industry and the fashion industry. The author formulated that the acceleration program should be determined by the specific interests and strategic priorities of the light industry and fashion industry companies. Such interests may be entering a new sales market, technological re-equipment, digitalization of processes, and so on. The company’s financial priorities should imply the sufficiency of resources to ensure the development of an innovative direction through the use of a technology transfer mechanism. To increase economic and social efficiency, the labor resources of an industry company should be involved in the launch, implementation and improvement of such programs. A strategic target map of accelerators is proposed depending on their types. The results of this work will allow professionals in the field of creative economy to independently develop technological priorities for the development of their innovation ecosystem in the long term. This study uses the following methodological tools: study, analysis, synthesis, formalization, strategic benchmarking. The strategic principles for the creation and operation of a corporate accelerator in the fashion industry are based on the theory and methodology of strategizing by Academician V. L. Kvint. Further research may be devoted to the analysis of social and economic efficiency in the context of corporate acceleration.
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Dissertations / Theses on the topic "Financial accelerator"

1

Lardeau, Thomas Laurent. "Equilibre du marché du crédit et cycle économique : un nouvel accélérateur financier." Thesis, Paris 13, 2014. http://www.theses.fr/2014PA131027/document.

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Avec le retour des cycles financiers et la crise des subprimes, la littérature a remis en avant l’influence macroéconomique des facteurs financiers. A partir du marché du crédit, elle s’est essentiellement développée avec la théorie de l’accélérateur financier (Bernanke et Gertler [1989], Bernanke, Gertler et Gilchrist [1999]) fondée sur l’hypothèse d’asymétrie d’information. Cette thèse se propose de compléter cette littérature en considérant le cas dans lequel l’offre de crédit s’exprime en situation d’incertitude radicale et de revenir sur cette théorie en proposant, à partir de certaines de ses limites, un autre mécanisme d’accélération financière qui soit de nature plus macroéconomique. Ce mécanisme permet alors d’améliorer la compréhension du rôle du marché du crédit dans l’explication des fluctuations économiques et de réinterpréter les recommandations de politique économique<br>With the renewal of financial cycles and the subprime crisis, literature had focused on the macroeconomic influence of the financial factors. From the credit market, it mainly developed along the theory of financial accelerator (Bernanke and Gertler [1989], Bernanke, Gertler and Gilchrist [1999]) which is based on the hypothesis of asymmetric information. This thesis gives aim to complete this literature by considering that credit supply must be also considered in radical uncertainty and to return on it by proposing, from some of its own limits, another mechanism of financial accelerator which can be viewed as more macroeconomic. So, it leads us to improve our understanding of the credit market in the explanation of macroeconomic fluctuations and to reconsider economic policy related
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Jorge, João Maria Apolinário. "Start-up’s financial capital and the probability of being accepted into an accelerator program." Master's thesis, Instituto Superior de Economia e Gestão, 2018. http://hdl.handle.net/10400.5/16753.

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Mestrado em Finanças<br>O objetivo desta dissertação é avaliar o impacto da estrutura de capital de uma start-up na probabilidade de esta ser aceite em programas de aceleração de empresas. Em virtude de se tratar de um tema recente, não existe literatura anterior sobre as preferências dos responsáveis pelos programas de aceleração relativamente à estrutura de financiamento das start-ups. Depois de selecionada uma amostra de empresas que se candidataram a aceleradoras entre 2016 e 2017, de uma base de dados fornecida pela Universidade Emory em Atlanta, Estados Unidos da América, utilizamos modelos de Tobit e Probit para avaliar a relação existente entre a estrutura de capital de uma empresa e a probabilidade de esta ser aceite em aceleradoras. Os resultados sugerem que start-ups com níveis mais altos de capitais dos fundadores, capitais próprios externos e dívida, têm maior probabilidade ser aceites em aceleradoras. Analisando as proporções relativas de cada fonte de financiamento, as aceleradoras preferem start-ups cuja maioria do capital seja proveniente de capitais próprios externos.<br>The aim of this dissertation is to evaluate the impact of the capital structure of a start-up on the probability of being accepted into an accelerator program. Due the fact that it is a recent topic, there is a lack of research on the preferences of accelerator's directors in terms of the financing structure of start-ups. After building a sample of firms which applied to accelerators between 2016 and 2017, from a novel database provided by the Emory University in Atlanta, United States of America, we conducted Tobit and Probit analyses to assess the relationship between the capital structure of a start-up and the probability of being accepted in an accelerator program. Our results suggest that start-ups with higher levels of own equity, external equity and debt have higher chances of being accepted in accelerators. In terms of sources of funding, accelerator's directors prefer start-ups with higher proportion of external equity in their capital structure.<br>info:eu-repo/semantics/publishedVersion
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Candian, Giacomo. "Essays on Information and Financial Frictions in Macroeconomics." Thesis, Boston College, 2016. http://hdl.handle.net/2345/bc-ir:106871.

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Thesis advisor: Susanto Basu<br>Thesis advisor: Peter Ireland<br>This dissertation consists of three independent chapters analyzing the role that information and credit frictions play in goods and financial markets. Within these chapters, I develop dynamic stochastic general equilibrium (DSGE) models to study the implications of these frictions on the macroeconomy, both at the national and international level. In the first chapter, I provide a novel explanation for the observed large and persistent fluctuations in real exchange rates using a model with noisy, dispersed information among price-setting firms. Chapter two studies how entrepreneurs' attitudes towards risk affect business cycles in a framework with agency frictions between borrowers and lenders. Finally, chapter three introduces a liquidity channel in a business cycle model with agency frictions to rationalize the highly volatile behavior of default recovery rates observed in the data. Real exchange rates have been extremely volatile and persistent since the end of the Bretton Woods system. For many developed economies, real exchange rates are as volatile as nominal exchange rates, and their fluctuations exhibit a half-life in the range of three to five years. Traditional sticky-price models struggle to jointly account for these features under plausible nominal rigidities (Chari, Kehoe, and McGrattan, 2002). Is it possible to reconcile, in a single framework, the enormous short-term volatility of the real exchange rate with its extremely long half-life? The first chapter of this dissertation addresses this question within a framework in which information is noisy and heterogeneous among price-setting firms. In this context, the continuing uncertainty that firms face about the state of the economy and about the beliefs of their competitors, slows down the price adjustment in response to nominal shocks, generating large and long-lived real exchange rate movements. I estimate the model using real output and output deflator data from the US and the Euro Area and show, as an out-of-sample test, that the model successfully explains the observed volatility and persistence of the Euro/Dollar real exchange rate. In a Bayesian model comparison, I show that the data strongly favor the dispersed information model relative to a sticky-price model à la Calvo. The model also accounts for the persistent effects of monetary shocks on the real exchange rate that I document using a structural vector autoregression. The second chapter, joint with Mikhail Dmitriev, studies how entrepreneurs' attitudes towards risk affect business cycles in a model with agency frictions. Entrepreneurs are inevitably exposed to non-diversified risk, which likely affects their willingness to borrow and to invest in risky projects. Nevertheless, the financial friction literature has paid little attention to how entrepreneurs' desire to take on this risk affects their investment choices in a general-equilibrium setting. Indeed, business cycle models with credit market frictions that feature idiosyncratic risk assume, for tractability, that entrepreneurs are risk neutral (Bernanke, Gertler, and Gilchrist, 1999, BGG). In this chapter, we generalize the BGG framework to the case of entrepreneurs with constant-relative-risk-aversion preferences. In doing so, we overcome the aggregation challenges of this setup and maintain an analytically tractable, log-linear framework. Our main result is that higher risk aversion stabilizes business cycle fluctuations in response to financial shocks, such as wealth redistribution or risk shocks, without significantly affecting the dynamic responses to technology and monetary shocks. Our findings suggest that, within this class of models, the ability of financial shocks to account for a large portion of short-run output fluctuations found in previous work (e.g., Christiano, Motto, and Rostagno (2014)) crucially hinges on borrowers' risk neutrality. The third chapter, joint with Mikhail Dmitriev, examines the implications of the cyclical properties of default recovery rates for aggregate fluctuations. We document that recovery rates after default in the United States are highly volatile and strongly pro-cyclical. These facts are hard to reconcile with the existing financial friction literature. Indeed, models with limited enforceability à la Kiyotaki and Moore (1997) do not feature defaults and recovery rates in equilibrium, while agency costs models following Bernanke, Gertler, and Gilchrist (1999) underestimate the volatility of recovery rates by one order of magnitude. In this chapter, we extend the standard agency costs model allowing liquidation costs for creditors to depend on the tightness of the market for physical capital. Creditors do not have expertise in selling entrepreneurial assets, but when buyers are plentiful, this disadvantage is minimal. Instead when sellers are abundant, the disadvantage of being an outsider is higher. Following a negative shock, entrepreneurs sell capital and liquidation costs for creditors increase, driving down recovery rates. With higher liquidation costs, creditors cut lending and cause entrepreneurs to sell even more capital. This liquidity channel works independently from standard balance sheet effects, and amplifies the impact of financial shocks on output by up to 50 percent<br>Thesis (PhD) — Boston College, 2016<br>Submitted to: Boston College. Graduate School of Arts and Sciences<br>Discipline: Economics
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Gelfer, Sacha. "Incorporating High Dimensional Data Vectors into Structural Macroeconomic Models." Thesis, University of Oregon, 2016. http://hdl.handle.net/1794/20493.

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In this dissertation I incorporate high dimensional data vectors in estimated Dynamic Stochastic General Equilibrium (DSGE) models, evaluating the labor market dynamics incorporated inside such data vectors, out-of-sample forecasting performance of many models estimated with such data vectors and analytically examining the reduction of macroeconomic volatility that can occur when such data vectors are used in the formation of expectations about the future. The second chapter investigates the extent to which modern DSGE models can produce labor market dynamics in response to a financial crisis that are consistent with the experience of the Great Recession. I estimate two New-Keynesian models, one with and one without financial frictions, in a data-rich environment. I find that negative financial shocks are associated with longer recoveries in real investment, capital-intensive sectors of the labor market and average unemployment duration. I also find the model with a financial accelerator is equipped with better tools to identify the dynamics associated with the Great Recession and its recovery in regard to many labor and financial metrics. The third chapter compares the out-of-sample forecasting performance of the two DSGE models of Chapter II when they are estimated both out of and in a data-rich environment. This chapter finds that many financial time series variance decomposition are significantly better explained using the structural set-up of the New-Keynesian model with financial frictions. DSGE models estimated with high dimensional data vectors significantly out forecast their regularly estimated counterpart in regard to output, investment and consumption growth. Lastly, the use of real-time optimal pool model weighting significantly out-forecasts traditional macroeconomic models as well as an equally weighted weighting scheme in terms of many macroeconomic variables. The fourth chapter examines the role forecasts derived by high dimensional data vectors can have on lowering macroeconomic volatility. Bounded rational agents are introduced into the Chapter II DSGE model with financial frictions and are given the option to use or ignore professionally generated forecasts from a dynamic factor model in their perceived forecasting model. In simulations, I find that professionally generated forecasts can significantly lower the volatility of many macroeconomic variables including inflation and hours worked.
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Silva, Nathalie dos Santos. "The effect of the financial accelerator over Brazilian firms: an investment analysis with evidence from 1Q2005 to 3Q2017." reponame:Repositório Institucional do FGV, 2018. http://hdl.handle.net/10438/24803.

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Submitted by Nathalie dos Santos Silva (nathass@gmail.com) on 2018-09-26T14:32:48Z No. of bitstreams: 1 dissertação final c ficha.pdf: 2465918 bytes, checksum: f48edd64a1f13d747b89668b7fb3fab5 (MD5)<br>Approved for entry into archive by Joana Martorini (joana.martorini@fgv.br) on 2018-09-26T14:57:24Z (GMT) No. of bitstreams: 1 dissertação final c ficha.pdf: 2465918 bytes, checksum: f48edd64a1f13d747b89668b7fb3fab5 (MD5)<br>Approved for entry into archive by Suzane Guimarães (suzane.guimaraes@fgv.br) on 2018-09-26T17:04:37Z (GMT) No. of bitstreams: 1 dissertação final c ficha.pdf: 2465918 bytes, checksum: f48edd64a1f13d747b89668b7fb3fab5 (MD5)<br>Made available in DSpace on 2018-09-26T17:04:37Z (GMT). No. of bitstreams: 1 dissertação final c ficha.pdf: 2465918 bytes, checksum: f48edd64a1f13d747b89668b7fb3fab5 (MD5) Previous issue date: 2018-07-24<br>This dissertation examines the impacts of monetary shocks on investment decisions of firms located in Brazil to test the presence of the financial accelerator. Because of this, after a brief review of the literature, limiting the scope of transmission via the balance sheet channel, a panel consisting of Brazilian firms from 2005 to 2017 were tested. Regression control variables include control of the effect of the BNDES on the financial leverage of firms. After tests performed under reasonable levels of significance, the resources generated internally by the firm's operations were the only variable that impacted the investments. The literature that discusses the impact of BNDES on the Brazilian capital market is also revisited in order to corroborate the results obtained in the tests.<br>O presente trabalho examina os impactos de choques monetários sobre decisões de investimentos de firmas localizadas no Brasil para testar se existe a presença do acelerador financeiro. Para isto, após uma breve revisão da literatura, limitando o escopo de transmissão via canal do balanço, um painel contendo firmas brasileiras de 2005 a 2017 foi testado. Dentre as variáveis de controle da regressão, inclui-se o controle do efeito do BNDES sobre a alavancagem financeira das firmas. Após testes realizados sob níveis de significância razoáveis, os recursos gerados internamente pelas operações das firmas é a única variável que impacta os investimentos. A literatura que discute o impacto do BNDES no mercado de capitais brasileiro também é revisitada de modo a corroborar os resultados obtidos nos testes.
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Melander, Ola. "Empirical essays on macro-financial linkages." Doctoral thesis, Stockholm : Economic Research Institute, Stockholm School of Economics (EFI), 2009. http://www2.hhs.se/efi/summary/790.htm.

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Gächter, Martin, Martin Geiger, Florentin Glötzl, and Helene Schuberth. "Sectoral Deleveraging in Europe and Its Economic Implications." Oesterreichische Nationalbank, 2015. http://epub.wu.ac.at/6272/1/foeei.pdf.

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We examine net lending/net borrowing and the underlying debt dynamics at the sectoral level in the European Union. Saving and investment patterns indicate that there have been considerable deleveraging efforts since the start of the global financial crisis, particularly in the nonfinancial corporate and household sectors. In many EU countries, however, this decline in credit transactions has not yet led to a significant reduction of sectoral debt-to-GDP ratios. Subdued output growth and low or even negative inflation rates have undermined the deleveraging process and increased real debt burdens in a number of European economies. Since these are often the countries that had experienced strong credit booms prior to the crisis, rebalancing needs are likely to persist and may be a significant drag on the recovery in the near future. Furthermore, most of the ongoing rebalancing - both in terms of debt levels and current account deficits - is based on a sharp decline in investment rather than an increase in saving, which might lead to lower potential growth in the future. Recent developments may even jeopardize the catching-up process of peripheral euro area countries and non-euro area EU Member States in Central, Eastern and Southeastern Europe.
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8

Henchiri, Hanène. "Essais sur l'incidence de l'environnement institutionnel sur les décisions financières des firmes." Thesis, Orléans, 2011. http://www.theses.fr/2011ORLE0513/document.

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Les imperfections des marchés financiers et l'incomplétude des contrats financiers compliquent la conclusion d'ententes entre les firmes et les parties prenantes. Plusieurs solutions sont proposées pour réduire ces problèmes et faciliter la conclusion des contrats financiers. Les contrats étant enveloppés par un cadre institutionnel, ils en sont imprégnés et affectés. Les institutions sont donc une des solutions aux imperfections des marchés et à l'incomplétude des contrats. Les résultats de notre étude le prouvent clairement. Cette étude montre que le niveau de développement et la structure du système financier (en particulier la part relative des financements bancaires et de marché), les conditions de régulation du système bancaire (les formes et l’étendue de la supervision) et certaines caractéristiques des systèmes juridiques (la protection des créditeurs), ont un effet significatif sur les contraintes d'investissement. Il apparaît que la bonne qualité des institutions facilite l'accès aux financements et qu'elle renforce les garanties exigées pour l'octroi de la dette. De fait, la piètre qualité des institutions d’un pays constitue une entrave à l'accès au financement par le secteur privé<br>The imperfections of financial markets and the incompleteness of financial contracts cause commitments between firms and stakeholders to become more complex. Several solutions are suggested in order to reduce such problems and to facilitate the conclusion of financial contracts. Contracts evolve within an institutional structure, an environment by which they are conditioned. Institutions are one of many solutions to market imperfections and to contract incompleteness. Results bring out relevant effects of the financial system’s development and structure (particularly the amount of banking over market financing), banking regulation (the supervisory methods and their extent) and some characteristics of the legal systems (such as creditor protection) on investment constraints. It appears that sound and healthy institutions facilitate access to funding and strengthen the collateral required to secure bank financing. Consequently, poor quality of a country’s institutions hinders access to financing by the private sector
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CARRARO, THOMAS. "Procyclicality and Strategic Complementarities in Bank Regulation." Doctoral thesis, Università Politecnica delle Marche, 2019. http://hdl.handle.net/11566/263484.

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Questa tesi racchiude tre lavori tra loro distinti ma legati da due argomenti in comune ovvero come la regolamentazione influenzi il comportamento degli intermediari bancari e il cruciale ruolo delle banche nel garantire il corretto flusso di credito all'economia reale. Questi due temi, sebbene legati, sono spesso affrontati separatamente trascurando che la regolamentazione, influenzando il comportamento degli intermediari bancari, influisca a sua volta anche sul flusso di credito all'economia reale. I primi due capitoli analizzano come il sistema bancario Americano si sia evoluto dagli anni 50 ad oggi. L'analisi sfrutta le proprietà delle Wavelet che permettono di studiare le serie storiche sia nel dominio del tempo sia in quello delle frequenze. Il primo capitolo analizza la relazione tra le sorgenti esterne di finanziamento per le imprese, mentre il secondo verifica se i dati confermano la teoria dell'acceleratore finanziario. Le conclusioni dei primi due capitoli confermano che la regolamentazione bancaria, l'evoluzione finanziaria e lo sviluppo tecnologico hanno modificato il processo decisionale degli intermediari bancari; ciò può spiegare perché negli ultimi decenni abbiamo osservato cicli economici più marcati. Nel terzo capitolo è presentato un modello nel quale gli intermediari bancari sono soggetti a complementarietà strategica nel loro processo decisionale. Nel modello la complementarità è dovuta alla contemporanea presenza di un vincolo sulle risorse disponibili per la vigilanza bancaria e all'ipotesi che la supervisione sia costosa per le banche. Si evidenzia come la presenza della complementarietà strategica possa spingere il sistema bancario a disequilibri, ad esempio un'eccessiva quantità di credito o una sua riduzione spropositata. Il modello evidenzia che le politiche macroprudenziali, come il countercyclical buffer e il loans support program, possono ridurre il rischio di eventi estremi modificando gli incentivi delle banche.<br>This thesis is a collection of three distinct works around two background common topics: how banking regulation effects the banks' behavior, and the role of the banking system in funding the real economy. These two topics are often studied separately, overlooking that banking regulation affects banks' behavior and their choices of lending to corporations, households, and economic and social fabric. To aide our systemic understanding of the implications of banking regulations onto the real economy, we dedicate the first two chapters of this thesis to shed some light on how the banking system evolved over the years. In particular, we analyze the US banking system from the 50s to present, using wavelet analysis. The first chapter studies the relationship between external sources of funds of corporations. The second chapter investigates whether data underpin the financial accelerator mechanism. Our analysis suggests that bank regulation, financial innovation, and technological development profusely affected bank' behavior, and explains why business cycles have become more severe in the past thirty years. In the third chapter we present a model in which banks suffer from strategic complementary. We derive the conditions for strategic complementarities in the behavior of banks in a banking system in which the supervisory authority has a budget constraint on the resources that it can allocate to monitor, and supervision is costly for banks. The strategic complementarity, in turn, can lead to homogeneous private decisions on risk-taking, setting the scene for corners solution as an excessive amount of credit or a credit crunch. In such a framework, the goal of macro-prudential policies consists in simultaneously restraining the incentive of banks in extending an excessive or a too low amount of loans. We show that the countercyclical buffer is a proper tool to reduce the probability of a credit boom, while a loans support program can decrease the probability of a credit crunch.
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Henchiri, Hanène. "Essais sur l'incidence de l'environnement institutionnel sur les décisions financières des firmes." Electronic Thesis or Diss., Orléans, 2011. http://www.theses.fr/2011ORLE0513.

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Les imperfections des marchés financiers et l'incomplétude des contrats financiers compliquent la conclusion d'ententes entre les firmes et les parties prenantes. Plusieurs solutions sont proposées pour réduire ces problèmes et faciliter la conclusion des contrats financiers. Les contrats étant enveloppés par un cadre institutionnel, ils en sont imprégnés et affectés. Les institutions sont donc une des solutions aux imperfections des marchés et à l'incomplétude des contrats. Les résultats de notre étude le prouvent clairement. Cette étude montre que le niveau de développement et la structure du système financier (en particulier la part relative des financements bancaires et de marché), les conditions de régulation du système bancaire (les formes et l’étendue de la supervision) et certaines caractéristiques des systèmes juridiques (la protection des créditeurs), ont un effet significatif sur les contraintes d'investissement. Il apparaît que la bonne qualité des institutions facilite l'accès aux financements et qu'elle renforce les garanties exigées pour l'octroi de la dette. De fait, la piètre qualité des institutions d’un pays constitue une entrave à l'accès au financement par le secteur privé<br>The imperfections of financial markets and the incompleteness of financial contracts cause commitments between firms and stakeholders to become more complex. Several solutions are suggested in order to reduce such problems and to facilitate the conclusion of financial contracts. Contracts evolve within an institutional structure, an environment by which they are conditioned. Institutions are one of many solutions to market imperfections and to contract incompleteness. Results bring out relevant effects of the financial system’s development and structure (particularly the amount of banking over market financing), banking regulation (the supervisory methods and their extent) and some characteristics of the legal systems (such as creditor protection) on investment constraints. It appears that sound and healthy institutions facilitate access to funding and strengthen the collateral required to secure bank financing. Consequently, poor quality of a country’s institutions hinders access to financing by the private sector
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Books on the topic "Financial accelerator"

1

Hall, Simon. Financial accelerator effects in UK business cycles. Bank of England, 1998.

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Hall, Simon. Financial accelerator effects in UK business cycles. Bank of England, 2001.

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Bernanke, Ben. The financial accelerator and the flight to quality. National Bureau of Economic Research, 1994.

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Roe, Mark J. Derivatives market's payment priorities as financial crisis accelerator. Harvard Law School, 2011.

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Bernanke, Ben. The financial accelerator in a quantitative business cycle framework. National Bureau of Economic Research, 1998.

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Mark, Gertler. External constraints on monetary policy and the financial accelerator. Bank for International Settlements, Monetary and Economic Dept., 2003.

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Mark, Gertler. External constraints on monetary policy and the financial accelerator. National Bureau of Economic Research, 2003.

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Elekdag, Selim. An estimated small open economy model of the financial accelerator. International Monetary Fund, Asia and Pacific Dept., 2005.

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Aoki, Kosuke. House prices, consumption, and monetary policy: A financial accelerator approach. Bank of England, 2002.

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Gilchrist, Simon. Monetary policy and the financial accelerator in a monetary union. Federal Reserve Board, 2002.

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Book chapters on the topic "Financial accelerator"

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de Groot, Oliver. "Financial Accelerator." In The New Palgrave Dictionary of Economics. Palgrave Macmillan UK, 2018. http://dx.doi.org/10.1057/978-1-349-95189-5_3030.

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de Groot, Oliver. "Financial Accelerator." In The New Palgrave Dictionary of Economics. Palgrave Macmillan UK, 2016. http://dx.doi.org/10.1057/978-1-349-95121-5_3030-1.

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Mak, Don K. "Awesome and Accelerator." In Trading Tactics in the Financial Market. Springer International Publishing, 2021. http://dx.doi.org/10.1007/978-3-030-70622-7_5.

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Rehn, Olli. "The Jury Is Out: Fiscal Multiplier vs. Financial Accelerator." In Walking the Highwire. Springer International Publishing, 2020. http://dx.doi.org/10.1007/978-3-030-34592-1_17.

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Alupoaiei, Alexie. "Flattening Phillips Curve, “Passive” Policy, and Incidence of the Self-fulfilling Prophecy in a Standard New-Keynesian Model with Financial Accelerator." In Emerging Issues in the Global Economy. Springer International Publishing, 2018. http://dx.doi.org/10.1007/978-3-319-71876-7_1.

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Desmettre, Sascha, and Ralf Korn. "10 Computational Challenges in Finance." In FPGA Based Accelerators for Financial Applications. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-15407-7_1.

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Liu, Gongda, Christian Brugger, Christian De Schryver, and Norbert Wehn. "Accelerating Closed-Form Heston Pricers for Calibration." In FPGA Based Accelerators for Financial Applications. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-15407-7_10.

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Becker, Tobias, Oskar Mencer, Stephen Weston, and Georgi Gaydadjiev. "Maxeler Data-Flow in Computational Finance." In FPGA Based Accelerators for Financial Applications. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-15407-7_11.

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Sayer, Tilman, and Jörg Wenzel. "From Model to Application: Calibration to Market Data." In FPGA Based Accelerators for Financial Applications. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-15407-7_2.

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Delivorias, Christos. "Comparative Study of Acceleration Platforms for Heston’s Stochastic Volatility Model." In FPGA Based Accelerators for Financial Applications. Springer International Publishing, 2015. http://dx.doi.org/10.1007/978-3-319-15407-7_3.

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Conference papers on the topic "Financial accelerator"

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Chang, Jui-Chuan. "Financial Accelerator Effect and Macroeconomic Fluctuations." In Third International Conference on Intelligent Information Hiding and Multimedia Signal Processing. IEEE, 2007. http://dx.doi.org/10.1109/iihmsp.2007.4457770.

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Fu, Liupeng. "An Empirical Test of China's Financial Accelerator Effects." In 2010 International Conference on E-Product E-Service and E-Entertainment (ICEEE 2010). IEEE, 2010. http://dx.doi.org/10.1109/iceee.2010.5660799.

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Al Hemeiri, Ashwaq. "Talent Accelerator Program for ADNOC Employees: A Journey for Accelerated Development." In ADIPEC. SPE, 2024. http://dx.doi.org/10.2118/223040-ms.

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Abstract The Talent Accelerator Program (TAP) is a comprehensive and innovative initiative that aims to develop the financial, commercial, technical, and leadership skills of ADNOC high potential employees from downstream and upstream sectors. The program prepares the participants for the CFA certification and equips them with the future skills requirement for the oil and gas industry. The program adopts a multidisciplinary approach that integrates theory and practice, and involves various learning methods and assessments. The program also involves the participants with top leaders from ADNOC and exposes them to real-life problems and opportunities in their respective sectors.
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Kiszl, Péter. "FINANCIAL AND BUSINESS ACCELERATOR: COLLABORATIVE, NON-FORMAL EDUCATIONAL LIBRARY PROGRAMS FOR SUSTAINABLE ECONOMY." In 15th International Technology, Education and Development Conference. IATED, 2021. http://dx.doi.org/10.21125/inted.2021.1419.

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Kovalyov, Anatoliy, Oleksandr Litvinov, Natalia Hrebennyk, and Yuliia Didur. "Development of entrepreneurial education in Ukrainian universities." In The 8th International Conference "Management Strategies and Policies in the Contemporary Economy". Academy of Economic Studies of Moldova, 2023. http://dx.doi.org/10.53486/icspm2023.45.

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The purpose of the paper is to investigate accelerators as a new element of interaction between universities, business and state. This process can be used for improving entrepreneurial education, which increases the innovation potential of universities. The study uses methods of analysis and synthesis, systematic approach, method of classification, method of comparison and method of measurement. The need for massive changes in higher education is proved. Also, increased attention to entrepreneurial education and involvement of business representatives community in educational process is needed. This proposed accelerator is the most perspective cooperation instrument between business, universities and state itself. Mainly it can be used in the process of entrepreneurial education improvement and innovative potential development. Different types of accelerators under the concept of "creation initiator" are considered. The examples of such accelerators worldwide and in Ukraine are investigated. It is proved that the most attractive option would be to create an accelerator on the basis of a university. That would combine financial, production, intellectual and other capabilities of several large companies with the innovative potential of the university. All participants will receive positive results. It was found that the distinctive feature of a university accelerator lies not only in its business orientation, but also focuses on the development of teaching and training materials, which can be scaled to accelerators in other universities.
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Ehrlicher, Ulrich, and Heinz Pauli. "Waste Reduction by Re-Use of Low Activated Material." In ASME 2009 12th International Conference on Environmental Remediation and Radioactive Waste Management. ASMEDC, 2009. http://dx.doi.org/10.1115/icem2009-16035.

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A multidisciplinary institute, equipped with research reactors and accelerator-driven research installations produces and, in the case of PSI, collects radioactive waste on one hand and requires material, especially for shielding purpose, on the other hand. The legislative framework for radiation protection, financial reasons and limited storage capacity strongly force Paul Scherrer Institute and comparable facilities to minimize radioactive waste. Besides free release of inactive components, recycling and re-use of low-level radioactive material in controlled areas are the best means for waste minimization. The re-use of slightly activated steel plates as a shielding material and the recycling of irradiated reactor graphite as a filling material embedded in mortar may give examples and encouragement for similar activities. Besides the advantages for radiation protection, the financial benefit can be measured in millions of dollars.
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Gribincea, Corina, and Alexandru Gribincea. "Financial strategy to accelerate green growth in Moldova." In Economic growth in the face of global challenges. Consolidation of national economies and reduction of social inequalities: International Scientific-Practical Conference, XVIIIth edition. National Institute for Economic Research, 2024. https://doi.org/10.36004/nier.cecg.iii.2024.18.25.

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The financial strategy to accelerate green growth in Moldova is essential for ensuring sustainable economic development and environmental improvement. This strategy emphasizes the importance of expanding the green finance sector to support the adoption of eco-friendly technologies and practices among Small and Medium Enterprises (SMEs). The paper underscores the significance of leveraging various financing options, such as green bonds, venture capital, and government grants, Moldova can overcome the financial barriers that hinder the green transformation of its economy. Furthermore, the paper discusses the implementation of tax incentives, including accelerated depreciation, tax credits, and reduced corporate tax rates for green investments, can further encourage SMEs to invest in sustainable projects. These measures, combined with improved regulatory frameworks and increased awareness among businesses, will create a conducive environment for green growth. By addressing the financial and regulatory challenges, Moldova can pave the way for a greener and more resilient future.
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Moroi, Tatiana, and Ana Gumovschi. "Modern Ways Of Financing Economic Agents." In 27th International Scientific Conference “Competitiveness and Innovation in the Knowledge Economy”. Academy of Economic Studies of Moldova, 2024. http://dx.doi.org/10.53486/cike2023.53.

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Financial innovation is closely linked to the evolution of technology, its dynamics being ever greater. Technology, in various forms, is increasingly present in the financial market, with consumers having to adapt to new trends. Innovation in the financial market has emerged as a natural response of consumer needs for financial products and services to technological progress in recent years. Subject of the study consists in highlighting the need to apply financial instruments, as well as ways of financing economic agents from the Republic of Moldova in order to improve access to financing through the use of alternative sources. The future of finance is digital: consumers and businesses are increasingly turning to digital financial services, innovative market participants are implementing new technologies, and existing business models are changing. Digital finance has helped citizens and businesses cope with the unprecedented situation created by the COVID-19 pandemic. FinTech solutions have helped expand and accelerate access to loans. The research methodology used: theoretical and statistical analysis, systemic and situational approach.
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Garrido Maza, Laura. "EUROPEAN FINANCIAL SUPPORT AND SUCCESFUL ROAD PPP PROJECTS." In CIT2016. Congreso de Ingeniería del Transporte. Universitat Politècnica València, 2016. http://dx.doi.org/10.4995/cit2016.2016.3492.

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The EU has been promoting the use of PPPs in order to accelerate the development of the Trans-European Transport Network (TEN-T) for ensuring economic, social and territorial cohesion and increasing accessibility throughout the Union. To encourage the use of PPPs, the European Commission has put several financing mechanisms at the disposal of the Member States, including a series of innovative financial instruments developed along with the European Investment Bank. The Bank has in turn played a major role in the promotion and financing of PPPs across the EU. The paper undertakes a review of the main financial instruments developed by the EU that are available to PPPs so as to determinate to what extent the European financial support has been channelled to road projects under that scheme in Spain. On the basis of the results obtained, a multiple regression model has been developed to analyse whether the PPP projects which enjoyed the financial support of the European Union tend to be significantly more successful from an economic point of view. The paper concludes that there is a positive correlation between receiving European financial support and the success of the PPP road projects.DOI: http://dx.doi.org/10.4995/CIT2016.2016.3492
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Ciobu, Stela, Victoria Iordachi, and Ana Gumovschi. "Financial digital inclusion an appropriate framework for implementation of innovations in the banking sector of the Republic of Moldova." In Economic growth in the face of global challenges. Consolidation of national economies and reduction of social inequalities: International Scientific-Practical Conference, XVIIIth edition. National Institute for Economic Research, 2024. https://doi.org/10.36004/nier.cecg.iii.2024.18.09.

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Digital revolution is changing the business environment and banking sector is no exception. The development of the digital economy of highly developed countries accelerates the need for increased digital financial inclusion and digital literacy as well. From a banking perspective, digital financial inclusion aims to engage the population in the digital financial system by offering digital products and services through accessible digital channels, which would facilitate secure digital financial management. Analyzing the specialized literature, were defined the three indicators of measure of digital financial inclusion: access to financial digital services, usage of financial digital services and quality of the digital products and service delivery. The purpose of current research is to study the degree of financial digital inclusion of the banking sector of the Republic of Moldova and the as a precondition for implementation of innovations in the context of digitalization processes in the Republic of Moldova. The specific objectives for achieving the research goals are: to analyze the factors that have accelerated the digital transformation in the banking sector; to study and establish new banking products and services in the Moldovan banking sector; to study the process of implementing innovations in close connection with digital transformation in the Republic of Moldova and at international level; to study and determine the deficiencies and prospects in the implementation of innovations in the banking sector in the Republic of Moldova.
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Reports on the topic "Financial accelerator"

1

López-Piñeros, Martha Rosalba, and Norberto Rodríguez-Niño. Financial accelerator mechanism: evidence for Colombia. Banco de la República, 2008. http://dx.doi.org/10.32468/be.481.

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Foroni, Claudia, Paolo Gelain, and Massimiliano Marcellino. The financial accelerator mechanism: does frequency matter? Federal Reserve Bank of Cleveland, 2022. http://dx.doi.org/10.26509/frbc-wp-202229.

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We use mixed-frequency (quarterly-monthly) data to estimate a dynamic stochastic general equilibrium model embedded with the financial accelerator mechanism à la Bernanke et al. (1999). We find that the financial accelerator can work very differently at monthly frequency compared to quarterly frequency; that is, we document its inversion. That is because aggregating monthly data into quarterly data leads to large biases in the estimated quarterly parameters and, as a consequence, to a deep change in the transmission of shocks.
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Bernanke, Ben, Mark Gertler, and Simon Gilchrist. The Financial Accelerator and the Flight to Quality. National Bureau of Economic Research, 1994. http://dx.doi.org/10.3386/w4789.

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López-Piñeros, Martha Rosalba, Juan David Prada-Sarmiento, and Norberto Rodríguez-Niño. Financial accelerator mechanism in a small open economy. Banco de la República, 2008. http://dx.doi.org/10.32468/be.525.

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Bergman, Nittai, Rajkamal Iyer, and Richard Thakor. Financial Accelerator at Work: Evidence from Corn Fields. National Bureau of Economic Research, 2015. http://dx.doi.org/10.3386/w21086.

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Gertler, Mark, Simon Gilchrist, and Fabio Natalucci. External Constraints on Monetary Policy and the Financial Accelerator. National Bureau of Economic Research, 2003. http://dx.doi.org/10.3386/w10128.

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Bernanke, Ben, Mark Gertler, and Simon Gilchrist. The Financial Accelerator in a Quantitative Business Cycle Framework. National Bureau of Economic Research, 1998. http://dx.doi.org/10.3386/w6455.

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Bordo, Michael, and John Duca. How New Fed Corporate Bond Programs Dampened the Financial Accelerator in the Covid-19 Recession. National Bureau of Economic Research, 2020. http://dx.doi.org/10.3386/w28097.

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Gelain, Paolo, and Marco Lorusso. Oil Price Fluctuations, US Banks, and Macroprudential Policy. Federal Reserve Bank of Cleveland, 2024. http://dx.doi.org/10.26509/frbc-wp-202233r.

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Using US micro-level data on banks, we document a negative effect of high oil prices on US banks' balance sheets, more negative for highly leveraged banks. We set and estimate a general equilibrium model with banking and oil sectors that rationalizes those findings through the financial accelerator mechanism. This mechanism amplifies the effect of oil price shocks, making them non-negligible drivers of the dynamics of US banks' intermediation activity and of the US real economy. Macroprudential policy, in the form of a countercyclical capital buffer, can meaningfully address oil price fluctuations and reduce the volatility they cause in the US economy.
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Debuque-Gonzales, Margarita, Ramona Maria Miral, and Mark Gerald Ruiz. Financial Inclusion, Financial Technology, and the COVID-19 Pandemic: The Philippine Case. Philippine Institute for Development Studies, 2024. http://dx.doi.org/10.62986/dp2023.45.

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The COVID-19 crisis created conditions for digital finance to accelerate financial inclusion in the Philippines. This paper explores different sources, including survey, administrative, and market data, to compare trends in account ownership and usage before and after the pandemic. Stylized facts about financial inclusion and demographic information across periods are then drawn based on probit regressions, with special focus on digital financial services. This is followed by an analysis of how service providers, consumers, and the government have shaped and continue to shape the digital finance landscape. The paper closes with conclusions and policy recommendations moving forward.
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