Suchergebnisse

PurposeThis paper aims to investigate the effect of labour market conditions and monetary policy on households' attitude towards debt in the Australian context.Design/methodology/approachIn doing so, household debt is categorised into housing, and consumer debt and the relationship is empirically tested through the use of a vector error correction model.FindingsConsumer debt is found to be highly dependent on consumption with employment income and unemployment having a statistically insignificant effect, whilst monetary policy showing an inverse relation to consumer debt. The findings suggest that household consumption appears to be the primary determinant for consumer debt, which then behaves as a wage substitute. In terms of housing debt, income and monetary policy positively affect households' decisions with consumption and unemployment having a negative impact on the level of housing debt. The empirical results suggest that housing debt behaves as a proxy for household investment.Originality/valueThis paper empirically investigates the impact of selected macroeconomic variables on housing and personal debt separately. The findings suggest that monetary policy and labour market conditions have different impacts on the two separate debt types.

This study investigates factors influencing monetary policy decisions of the Federal Open Market Committee (FOMC) over the period 1960–1998. Competing perspectives regarding the process of monetary policy making exist, with some researchers contending the FOMC makes short‐run policy decisions based solely on "objective" macroeconomic considerations and others arguing that political and other nonmacroeconomic considerations significantly influence monetary policy voting. Empirical studies support both views in varying degrees. This article presents a model of FOMC decision making which posits that (1) the current/prospective macroeconomic environment at the time of FOMC meetings is the most important consideration of monetary policy makers, and (2) nonmacroeconomic variables receive little attention unless macroeconomic conditions are difficult for policy makers to assess. Probit results support the implications of the model.

The powerful attraction of foreign direct investment (FDI) is particularly important for further development of tourism. The strategically focused attraction of FDI in tourism has a much higher significance because of the multiple effects in relation to other segments of the economy. In this context, it is necessary to highlight the investment engagement and the presence of globally branded luxury hotels. The purpose of the study is to assess the macroeconomic environment, the effects of greenfield FDI in tourism and, consequently, the presence of global hotel brands using the comparative analysis of the selected countries as the methodological basis of this study. The research results indicate that a favorable macroeconomic environment plays an important role in attracting foreign capital. Countries that have a more favorable macroeconomic environment attract more greenfield FDI, and provide a greater presence of global hotel brands, and thus greater competitiveness. Also, the political stability, the encouraging macroeconomic business conditions, the elimination of administrative and legislative barriers, the elimination of the country's image as a corrupt destination and tourism staff education at all levels are particularly important for FDI in tourism.

The powerful attraction of foreign direct investment (FDI) is particularly important for further development of tourism. The strategically focused attraction of FDI in tourism has a much higher significance because of the multiple effects in relation to other segments of the economy. In this context, it is necessary to highlight the investment engagement and the presence of globally branded luxury hotels. The purpose of the study is to assess the macroeconomic environment, the effects of greenfield FDI in tourism and, consequently, the presence of global hotel brands using the comparative analysis of the selected countries as the methodological basis of this study. The research results indicate that a favorable macroeconomic environment plays an important role in attracting foreign capital. Countries that have a more favorable macroeconomic environment attract more greenfield FDI, and provide a greater presence of global hotel brands, and thus greater competitiveness. Also, the political stability, the encouraging macroeconomic business conditions, the elimination of administrative and legislative barriers, the elimination of the country's image as a corrupt destination and tourism staff education at all levels are particularly important for FDI in tourism.

The report analyses the fiscal and macroeconomic environment in the lagging regions and the relevant Member States of the EU, as a sound and sustainable macroeconomic framework is a necessary, but by itself not a sufficient precondition for investment and growth in the regions. It starts with identifying relevant indicators to highlight the macroeconomic environment in the lagging regions, assessing the performance of the regions across these indicators, and establishing a framework which sets out the potential causes of these imbalances. This sets the scene for further analysis of the transmission mechanisms which cause the regional discrepancies in these Member States between the lagging and the non-lagging regions, as well as exploring the differences between the low growth and low income lagging regions. The report concludes with a summary of these findings and how they could be used as a basis for policy recommendations which might improve the economic performance of the lagging regions.

This study is directed for the understanding how the economic recession influences the credit risk in commercial banks. According to this the scientific problem can be raised – what is the main impact of the country's economic downturn on the debtors' credit risk in banks? The typical characteristics of these interrelations will be revealed in this study. The object of this research is impact of macroeconomic changes on the credit risk in commercial banks. The aim of this research is to reveal the main impact of macroeconomic changes on credit risk in commercial banks. The tasks of this research: 1. To explain the economic role of commercial banks in country's financial system. 2. To select the main banks' performance measures that reflect banks' status. 3. To analyze the main commercial banks' risks that must be managed in banks. 4. To analyze the main peculiarities of credit risk management in banks. 5. To reveal the macroeconomic impact on credit risk in banks analyzing the publications of other researchers. 6. To present the Lithuanian commercial banking system. 7. To estimate the problem of non-performing loans and the changes of financial condition in Lithuanian banks. 8. To analyze the changes of commercial banks macroeconomic environment in Lithuania. 9. To develop the enterprises credit risk assessment model considering the industry sectors sensitivity to the macroeconomic changes. 10. To measure the business and households indebtedness in Lithuania and to evaluate it as factor of NPLs problem in banks. 11. To analyze the non-performing loans problem in European Union. 12. To find the dependence of non-performing loans problem on macroeconomic conditions in European Union. 13. To develop the NPLs in European Union countries prediction model. The methods of this research consist of the analysis of scientific publications and statistical data of commercial banks and economics.

This study is directed for the understanding how the economic recession influences the credit risk in commercial banks. According to this the scientific problem can be raised – what is the main impact of the country's economic downturn on the debtors' credit risk in banks? The typical characteristics of these interrelations will be revealed in this study. The object of this research is impact of macroeconomic changes on the credit risk in commercial banks. The aim of this research is to reveal the main impact of macroeconomic changes on credit risk in commercial banks. The tasks of this research: 1. To explain the economic role of commercial banks in country's financial system. 2. To select the main banks' performance measures that reflect banks' status. 3. To analyze the main commercial banks' risks that must be managed in banks. 4. To analyze the main peculiarities of credit risk management in banks. 5. To reveal the macroeconomic impact on credit risk in banks analyzing the publications of other researchers. 6. To present the Lithuanian commercial banking system. 7. To estimate the problem of non-performing loans and the changes of financial condition in Lithuanian banks. 8. To analyze the changes of commercial banks macroeconomic environment in Lithuania. 9. To develop the enterprises credit risk assessment model considering the industry sectors sensitivity to the macroeconomic changes. 10. To measure the business and households indebtedness in Lithuania and to evaluate it as factor of NPLs problem in banks. 11. To analyze the non-performing loans problem in European Union. 12. To find the dependence of non-performing loans problem on macroeconomic conditions in European Union. 13. To develop the NPLs in European Union countries prediction model. The methods of this research consist of the analysis of scientific publications and statistical data of commercial banks and economics.