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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
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Exchange Market Pressure, Currency Crises, and Monetary Policy : Additional Evidence From Emerging Markets
Tanner, Evan - 2002
This paper extends my previous work by examining the relationship between monetary policy and exchange market pressure (EMP) in 32 emerging market countries. EMP is a gauge of the severity of crises, and part of this paper specifically analyzes crisis periods. Two variables gauge the stance of...
Persistent link: https://www.econbiz.de/10014399781
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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
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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
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Investor information and bank instability during the European debt crisis
Iorgova, Silvia; Ross, Chase P. - 2021
Persistent link: https://www.econbiz.de/10012487211
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Can emerging market central banks bail out banks? : a cautionary tale from Latin America
Jácome, Luis Ignacio; Sedik, Tahsin Saadi; Townsend, Simon - 2011
Persistent link: https://www.econbiz.de/10009422255
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Output Response to Currency Crises
Sahay, Ratna - 2003
This paper analyzes the behavior of output during currency crises using a sample of 195 crisis episodes in 91 developing countries during 1970-98. It finds that more than two-fifths of the crises in the sample were expansionary, and that output contraction was greater in large and more developed...
Persistent link: https://www.econbiz.de/10014403977
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Does Monetary Policy Stabilize the Exchange Rate Following a Currency Crisis?
Goldfajn, Ilan - 1999
This paper provides evidence on the relationship between monetary policy and the exchange rate in the aftermath of currency crises. It analyzes a large data set of currency crises in 80 countries for the period 1980-98. The main question addressed is: Can monetary policy increase the probability...
Persistent link: https://www.econbiz.de/10014401052
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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
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Monetization in low- and middle-income countries
McLoughlin, Cameron; Kinoshita, Noriaki - 2012
The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...
Persistent link: https://www.econbiz.de/10009618525