Showing 1 - 5 of 5
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/10010948836
Two separate narratives have emerged in the wake of the Global Financial Crisis. One interpretation speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and...
Persistent link: https://www.econbiz.de/10010877944
This paper addresses difficulties in modelling exchange rates in South Africa. Real exchange rate models of earlier research seem to be sensitive to the sample period considered, alternative variable definition, data frequency and estimation methods. Alternative exchange rate models proposed in...
Persistent link: https://www.econbiz.de/10010554826
, rapidly narrowed the productivity gap with advanced economies. In contrast, in countries of the Commonwealth of Independent … States, which embarked on reforms later and contented with less depth, the productivity gap remains substantial. While the …
Persistent link: https://www.econbiz.de/10008572571
We find that productivity gains in tradables cause an appreciation of the real exchange rate via both tradable and …
Persistent link: https://www.econbiz.de/10005405897