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Trade Openness and Investment Instability

Razin, Assaf - 2002

In the presence of lumpy investment cost of adjustment, globalization may have non-conventional effects on the level of …-validating expectations. In this sense globalization destabilizes the economy. There can be substantial gains from globalization in the …

Persistent link: https://www.econbiz.de/10012469888

East Asia : recovery and beyond

2000 - 1. print

Persistent link: https://www.econbiz.de/10013537523

Financial Globalization, Growth and Volatility in Developing Countries

Prasad, Eswar S. - 2004

This paper provides a comprehensive assessment of empirical evidence about the impact of financial globalization on …, we do find that financial globalization can be beneficial under the right circumstances. Empirically, good institutions … and quality of governance are crucial in helping developing countries derive the benefits of globalization. Similarly …

Persistent link: https://www.econbiz.de/10012467745

Overcoming the Fear of Free Falling : Monetary Policy Graduation in Emerging Markets

Vegh, Carlos A. - 2012

Developing countries have typically pursued procyclical macroeconomic policies, which tend to amplify the underlying business cycle (the "when-it-rains-it-pours" phenomenon). There is, however, evidence to suggest that about a third of developing countries have shifted from procyclical to...

Persistent link: https://www.econbiz.de/10012460485

Business Cycles in Emerging Economies : The Role of Interest Rates

Neumeyer, Pablo A. - 2004

We find that in a sample of emerging economies business cycles are more volatile than in developed ones, real interest rates are countercyclical and lead the cycle, consumption is more volatile than output and net exports are strongly countercyclical. We present a model of a small open economy,...

Persistent link: https://www.econbiz.de/10012468306

Have National Business Cycles Become More Synchronized?

Bordo, Michael D. - 2003

regimes. The increasing importance of global shocks we posit reflects the forces of globalization, especially the integration …

Persistent link: https://www.econbiz.de/10012468564

The Costs of Macroprudential Policy

Richter, Björn - 2018

Central banks increasingly rely on macroprudential measures to manage the financial cycle. However, the effects of such policies on the core objectives of monetary policy to stabilise output and inflation are largely unknown. In this paper, we quantify the effects of changes in maximum...

Persistent link: https://www.econbiz.de/10012480642

A Counterfactual Economic Analysis of Covid-19 Using a Threshold Augmented Multi-Country Model

Chudik, Alexander - 2020

observations. Our results show that the Covid-19 pandemic will lead to a significant fall in world output that is most likely long …

Persistent link: https://www.econbiz.de/10012481159

Betting the House

Jordà, Òscar - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10012457895

The Great Mortgaging : Housing Finance, Crises, and Business Cycles

Jordà, Òscar - 2014

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks' balance sheets doubled in the course of the 20th century, driven by a sharp rise of...

Persistent link: https://www.econbiz.de/10012458166