Free Essays on Euro-monetary Transition

The Eurosystem Monetary Transmission Network This issue of the ECB Working Paper Series contains research presented at a conference on â€Å"Monetary Policy Transmission in the Euro Area† held at the European Central Bank on 18 and 19 December 2001. This research was conducted within the Monetary Transmission Network, a group of economists affiliated with the ECB and the National Central Banks of the Eurosystem chaired by Ignazio Angeloni. Anil Kashyap (University of Chicago) acted as external consultant and Benoà ®t Mojon as secretary to the Network. The papers presented at the conference examine the euro area monetary transmission process using different data and methodologies: structural and VAR macro-models for the euro area and the national economies, panel micro data analyses of the investment behaviour of non-financial firms and panel micro data analyses of the behaviour of commercial banks. Contents Abstract 4 Non-technical summary 5 1. Introduction 7 II. A Brief account of some Luxembourg peculiarities 9 III. Theoretical aspects 11 IV. Data, variables and estimation methodology 12 V. Empirical results 21 VI. Concluding remarks 26 VII. References 27 VIII. Appendix 29 European Central Bank Working Paper Series 31 Abstract: This paper investigates the transmission of monetary policy using data from a panel of Luxembourg firms. The results indicate that the sales accelerator may be at work. A very robust result is the negative effect of the user cost of capital on firms’ investment ratio. Changes in user costs are significantly affected by changes in the monetary policy indicator. In addition, firm specific balance sheet characteristics, such as the lagged cash stock to capital ratio influence the investment behaviour according to the broad credit channel theory. Using various sample splits, it is shown that young firms, in particular, are more sensitive to user cost changes, sales growth and ... Free Essays on Euro-monetary Transition Free Essays on Euro-monetary Transition The Eurosystem Monetary Transmission Network This issue of the ECB Working Paper Series contains research presented at a conference on â€Å"Monetary Policy Transmission in the Euro Area† held at the European Central Bank on 18 and 19 December 2001. This research was conducted within the Monetary Transmission Network, a group of economists affiliated with the ECB and the National Central Banks of the Eurosystem chaired by Ignazio Angeloni. Anil Kashyap (University of Chicago) acted as external consultant and Benoà ®t Mojon as secretary to the Network. The papers presented at the conference examine the euro area monetary transmission process using different data and methodologies: structural and VAR macro-models for the euro area and the national economies, panel micro data analyses of the investment behaviour of non-financial firms and panel micro data analyses of the behaviour of commercial banks. Contents Abstract 4 Non-technical summary 5 1. Introduction 7 II. A Brief account of some Luxembourg peculiarities 9 III. Theoretical aspects 11 IV. Data, variables and estimation methodology 12 V. Empirical results 21 VI. Concluding remarks 26 VII. References 27 VIII. Appendix 29 European Central Bank Working Paper Series 31 Abstract: This paper investigates the transmission of monetary policy using data from a panel of Luxembourg firms. The results indicate that the sales accelerator may be at work. A very robust result is the negative effect of the user cost of capital on firms’ investment ratio. Changes in user costs are significantly affected by changes in the monetary policy indicator. In addition, firm specific balance sheet characteristics, such as the lagged cash stock to capital ratio influence the investment behaviour according to the broad credit channel theory. Using various sample splits, it is shown that young firms, in particular, are more sensitive to user cost changes, sales growth and ...

Expository Essay on Depression

Expository Essay on Depression Expository Essay on Depression Even though depression entails one having sad feelings, it is actually a condition that is by far more than merely having some degree of sadness. This is because the magnitude of sadness that one feels when depressed is so intense, it may also be accompanied by numerous other symptoms. There are many types of depression, one of which is referred to as the major depressive disorder in clinical terms. This type of depression is serious because the individual is depressed for a large portion of a day, year-round. The symptoms for this depression include loss of interest in favorite activities and an unexplained gain or loss in weight. Insomnia, difficulty i falling asleep, is also one of the many symptoms. An individual who has a major depression is also more likely to feel like he or she is dissatisfied with all that life has to offer. The other symptoms of this condition include feeling very tired the entire day, even without having done any work, experiencing trouble when concentrating and in one trying to make decisions. Doctors usually diagnose this depression if a patient has suffered five or more symptoms, if the patient has been experiencing the aforementioned symptoms for a period of two or more weeks, and if one of the symptoms is the loss of interest in activities that the patient once found very interesting. Major depression can be treated with a mixture of therapy and medication or the taking of antidepressants. When these two methods of treatment do not work, some of the other treatment options that may be suggested by physicians include those of repetitive trans-cranial magnetic stimulation and electro-convulsive therapy. These methods work by using magnetic fields to stimulate certain parts of the brain in order to help an individual to work better or even have better control of their moods. The other major type of depression is the persistent depressive disorder which is a type of depression that can last for at least two years. This type of depression has numerous symptoms which include a drastic change in one’s appetite where one eats too much food or not enough. This type of disorder also greatly affects an individual’s sleep patterns, either causing the patient to sleep too much or too little. An individual suffering from persistent depression also tends to be fatigued for most of the day and generally feel like he or she lacks energy to perform even the simplest of tasks. This lack of energy, in turn, causes the individual to experience low self-esteem and to generally develop a feeling of hopelessness. As we can see, depression is a serious condition that requires medical attention. If any of the symptoms occur, it is essential to consult a specialist to prevent a big issue. Our custom essay writing service can easily write your expository essay on depression from scratch. Just visit our companys website now!