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Capital markets, COVID-19 and policy measures

ElFayoumi, Khalid; Hengge, Martina - 2021

The COVID-19 pandemic and associated policy responses triggered a historically large wave of capital reallocation between markets and asset classes. Using high-frequency country-level data, this paper examines if and how the number of COVID cases, the stringency of the lockdown, and the fiscal...

Persistent link: https://www.econbiz.de/10012518278

Contagion of fear : is the impact of COVID-19 on sovereign risk really indiscriminate?

Cevik, Serhan; Öztürkkal, Belma - 2020

This paper investigates the impact of infectious diseases on the evolution of sovereign credit default swap (CDS) spreads for a panel of 77 advanced and developing countries. Using annual data over the 2004-2020 period, we find that infectious-disease outbreaks have no discernible effect on CDS...

Persistent link: https://www.econbiz.de/10012392655

Euro Area Sovereign Risk During the Crisis

Zoli, Edda - 2009

While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy … perspective, to what extent do movements in euro area sovereign spreads reflect country-specific solvency concerns? In line with … previous studies, the paper suggests that euro area sovereign risk premium differentials tend to comove over time and are …

Persistent link: https://www.econbiz.de/10014402235

Investor information and bank instability during the European debt crisis

Iorgova, Silvia; Ross, Chase P. - 2021

Persistent link: https://www.econbiz.de/10012487211

Estimating the Effect of the One-Child Policy on Sex Ratio Imbalance in China : Identification Based on the Difference-in-Differences

Li, Hongbin - 2010

likely confounded by other omitted policy shocks or socioeconomic changes. Moreover, we conduct the DD estimation using both …

Persistent link: https://www.econbiz.de/10013138734

Financial crisis, US unconventional monetary policy and international spillovers

Chen, Qianying; Filardo, Andrew J.; He, Dong; Zhu, Feng - 2015

Persistent link: https://www.econbiz.de/10011281170

Effects of emerging market asset purchase program announcements on financial markets during the COVID-19 pandemic

Sever, Can; Goel, Rohit; Drakopoulos, Dimitris; … - 2020

The COVID-19 pandemic led many emerging market central banks to adopt, for the first time, unconventional policies in the form of asset purchase programs. In this study, we analyze the effects of these announcements on domestic financial markets using both event studies and local projections...

Persistent link: https://www.econbiz.de/10012487164

The expansionary lower bound : contractionary monetary easing and the trilemma

Cavallino, Paolo; Sandri, Damiano - 2018

We provide a theory of the limits to monetary policy independence in open economies arising from the interaction between capital flows and domestic collateral constraints. The key feature of our theory is the existence of an 'Expansionary Lower Bound' (ELB), defined as an interest rate threshold...

Persistent link: https://www.econbiz.de/10012112314

Capital flows at risk : taming the ebbs and flows

Gelos, Gaston; Gornicka, Lucyna; Koepke, Robin; Sahay, Ratna - 2019

The volatility of capital flows to emerging markets continues to pose challenges to policymakers. In this paper, we propose a new framework to answer critical policy questions: What policies and policy frameworks are most effective in dampening sharp capital flow movements in response to global...

Persistent link: https://www.econbiz.de/10012155045

How Effective is Fiscal Policy Response in Systemic Banking Crises?

Gupta, Sanjeev - 2009

This paper studies the effects of fiscal policy response in 118 episodes of systemic banking crisis in advanced and emerging market countries during 1980-2008. It finds that timely countercyclical fiscal measures contribute to shortening the length of crisis episodes by stimulating aggregate...

Persistent link: https://www.econbiz.de/10014402386

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