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The financial crises of 2007-2008, caused wide-spread falling output and unemployment, in the affected countries and also globally. The severity of the recession was such that it was called the "Great Recession". As a result of an increase in demand from China and India, at the same time, oil...
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only affect economic developments within these countries but also across the world. In the current paper, the macroeconomic … effects on the world economy in general and its major trading partners in particular. Moreover, the long-run effects function … world economy heavily reacts on sudden world oil price changes but is less vulnerable to ad-hoc production shortages of …
Persistent link: https://www.econbiz.de/10009155929
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episodes include the 1929 stock market crash, the 1973 oil shock, the 2007 U.S. subprime collapse and fifteen severe post-World …
Persistent link: https://www.econbiz.de/10013138473
In this study, it is discussed whether this crisis is the hegemony war of USA or not, by moving from the idea that the crisis experienced recently can be considered as a great depression. In this discussion, the theoretical structure of the great depression and the historical dimension of the...
Persistent link: https://www.econbiz.de/10013152724
Real oil prices surged from 2009 through 2014, comparable to the 1970's oil shock period. Standard explanations based on monopoly markup fall short since inflation remained low after 2009. This paper contributes strong evidence of Granger (1969) predictability of nominal factors to oil prices,...
Persistent link: https://www.econbiz.de/10012858386
We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR) model. We report three main results. First, the decline...
Persistent link: https://www.econbiz.de/10012584054
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episodes include the 1929 stock market crash, the 1973 oil shock, the 2007 U.S. subprime collapse and fifteen severe post-World …
Persistent link: https://www.econbiz.de/10012462322