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Review of "This time is different : eight centuries of financial folly by Carmen M. Reinhart and Kenneth S. Rogoff"

Kose, M. Ayhan - 2011

This Time is Different: Eight Centuries of Financial Folly is one of the best, if not the best, books ever written on the history of financial crises. It presents a comprehensive survey of financial crises utilizing an extraordinary database of macroeconomic and financial series. The massive...

Persistent link: https://www.econbiz.de/10008900898

The global financial crisis : how similar? ; how different? ; how costly?

Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - 2010

episode took a very heavy toll on the real economy, we argue that this was not a surprising outcome. In particular, historical …

Persistent link: https://www.econbiz.de/10008669963

The great plunge in oil prices : causes, consequences, and policy responses

Baffes, John; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2015

Following four years of relative stability at around $105 per barrel, oil prices have declined sharply since June 2014. This paper presents a comprehensive analysis of the sources of the recent decline in prices, and examines its macroeconomic, financial and policy implications. The recent drop...

Persistent link: https://www.econbiz.de/10010512500

Understanding financial crises : causes, consequences, and policy responses

Claessens, Stijn; Kose, M. Ayhan; Laeven, Luc; … - 2013

The global financial crisis of 2007-09 has led to an intensive research program analyzing a wide range of issues related to financial crises. This paper presents a summary of a forthcoming book, Financial Crises: Causes, Consequences, and Policy Responses, that includes 19 contributions...

Persistent link: https://www.econbiz.de/10009703639

The coming US interest rate tightening cycle : smooth sailing or stormy waters?

Arteta, Carlos Ó.; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2015

report three major findings: First, since the tightening cycle will take place in the context of a robust U.S. economy, it …

Persistent link: https://www.econbiz.de/10011389408

Global Macro-Financial Cycles and Spillovers

Ha, Jongrim - 2020

We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...

Persistent link: https://www.econbiz.de/10012479322

On the Global Impact of Risk-off Shocks and Policy-put Frameworks

Caballero, Ricardo J. - 2019

Global risk-off shocks can be highly destabilizing for financial markets and, absent an adequate policy response, may trigger severe recessions. Policy responses were more complex for developed economies with very low interest rates after the Global Financial Crisis (GFC). We document, however,...

Persistent link: https://www.econbiz.de/10012479979

Cross-Country Causes and Consequences of the Crisis : An Update

Rose, Andrew K. - 2010

We update Rose and Spiegel (2009a, b) and search for simple quantitative models of macroeconomic and financial indicators of the "Great Recession" of 2008-09. We use a cross-country approach and examine a number of potential causes that have been found to be successful indicators of crisis...

Persistent link: https://www.econbiz.de/10012462412

The "Other" Imbalance and the Financial Crisis

Caballero, Ricardo J. - 2010

the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments …

Persistent link: https://www.econbiz.de/10012463014

Cross-Country Causes and Consequences of the 2008 Crisis : International Linkages and American Exposure

Rose, Andrew K. - 2009

This paper models the causes of the 2008 financial crisis together with its manifestations, using a Multiple Indicator Multiple Cause (MIMIC) model. Our analysis is conducted on a cross-section of 85 countries; we focus on international linkages that may have allowed the crisis to spread across...

Persistent link: https://www.econbiz.de/10012463292