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Would a growth slowdown in emerging markets spill over to high-income countries? : a quantitative assessment

Ollivaud, Patrice; Rusticelli, Elena; Schwellnus, Cyrille - 2014

Growth in emerging market economies (EMEs) is set to durably slow from the rates observed over 2010-12 as cyclical effects fade, potential growth declines and external financing conditions tighten. Large negative current account balances make some EMEs vulnerable to sudden reversals in capital...

Persistent link: https://www.econbiz.de/10010374413

Capital flow deflection under the magnifying glass

Gori, Filippo; Lepers, Etienne; Mehigan, Caroline - 2020

In a financially interconnected world, individual countries’ policy choices affect other economies and can become a source of international shocks. Leveraging on a new quarterly dataset of capital control adjustments, we find renewed evidence that the introduction of capital controls in one...

Persistent link: https://www.econbiz.de/10012304410

Can reforms promoting growth increase financial fragility? : an empirical assessment

Caldera Sánchez, Aida; Gori, Filippo - 2016

Certain growth-promoting policies can have negative side-effects by increasing the vulnerability of economies to financial crises. Typical examples are greater openness to financial flows or more liberalised financial markets. This paper investigates whether the growth benefits of policy reforms...

Persistent link: https://www.econbiz.de/10011578174

Investment gaps after the crisis

Lewis, Christine; Pain, Nigel; Strasky, Jan; Menkyna, Fusako - 2014

longer-term policy issues that bear on investment decisions indirectly, by reducing financial fragmentation in the euro area …

Persistent link: https://www.econbiz.de/10010464901

An exploration of the determinants of the subjective well-being of Americans during the Great Recession

Caldera Sánchez, Aida; Tassot, Caroline - 2014

This paper uses data from the American Life Panel to understand the determinants of well-being in the United States during the Great Recession. It investigates how various dimensions of subjective wellbeing reflected in the OECD Better Life Framework impact subjective well-being. The results...

Persistent link: https://www.econbiz.de/10010464956

Italy and the euro area crisis : securing fiscal sustainability and financial stability

Denk, Oliver - 2013

. It reflects lingering anxieties over the euro area’s future, as well as persistent economic and financial difficulties … flowed out of Italy to the core countries of the euro area. The Bank of Italy should continue to ensure that banks increase … financial crisis in Italy depends in part on action at the euro area level. As a member of the euro area, Italy has benefited …

Persistent link: https://www.econbiz.de/10009767734

Drivers of systemic banking crises : the role of bank-balance-sheet contagion and financial account structure

Ahrend, Rudiger; Goujard, Antoine - 2012

Persistent link: https://www.econbiz.de/10009689388

Do investors disproportionately shed assets of distant countries under increased uncertainty? : evidence from the global financial crisis

2012

The global crisis of 2008-09 went in hand with sharp fluctuations in capital flows. To some extent, these fluctuations may have been attributable to uncertainty-averse investors indiscriminately selling assets about which they had poor information, including those in geographically distant...

Persistent link: https://www.econbiz.de/10009691014

Which structural policies stabilise capital flows when investors suddenly change their mind? : evidence from bilateral bank data

Ahrend, Rudiger; Schwellnus, Cyrille - 2012

The global financial crisis of 2007-09 and the ensuing sovereign debt crisis in Europe provide evidence that portfolio rebalancing of financial investors can contribute to spread financial turmoil across countries. Rebalancing of portfolios, in turn, may be driven by the need to meet liquidity...

Persistent link: https://www.econbiz.de/10009691017

Spillover effects from exiting highly expansionary monetary policies

Rawdanowicz, Łukasz; Bouis, Romain; Brezillon, Jérôme; … - 2014

The prospective normalisation of monetary policies in the main OECD areas will be challenging given that current policy rates are likely to be significantly below neutral levels and that central bank balance sheets will be above the pre-crisis levels by a wide margin. Monetary policy...

Persistent link: https://www.econbiz.de/10010374407