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Do Structural Policies Affect Macroeconomic Stability?

Ziemann, Volker - Economics Department, Organisation de Coopération et … - 2013

Using a panel of OECD countries, this study assesses the linkages between structural policies and macroeconomic stability. Business cycle and time-series characteristics of GDP and its components are employed to define various measures for economic instability and for the persistence of adverse...

Persistent link: https://www.econbiz.de/10011276797

US Long Term Interest Rates and Capital Flows to Emerging Economies

Olaberria, Eduardo - Economics Department, Organisation de Coopération et … - 2014

Following Chairman Ben Bernanke’s comments before Congress that the FOMC may ‘take a step down in the pace of asset purchases if economic improvement appears to be sustained’, US 10-year interest rates picked up sharply and gross capital flows to emerging market economies (EMEs) reversed....

Persistent link: https://www.econbiz.de/10011276981

Ongoing Changes in the Business Cycle: Evidence and Causes

Dalsgaard, Thomas; Elmeskov, Jørgen; Park, Cyn-Young - Economics Department, Organisation de Coopération et … - 2002

This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical...

Persistent link: https://www.econbiz.de/10005046149

Transitions in and out of Unemployment among Young People in the Irish Recession

Kelly, Elish; McGuinness, Seamus; Philip O’Connell; … - Economics Department, Organisation de Coopération et … - 2013

Young people have been hit hard by unemployment during the Irish recession. While much research has been undertaken to study the effects of the recession on overall labour market dynamics, little is known about the specific effects on youth unemployment and the associated challenges. This paper...

Persistent link: https://www.econbiz.de/10011276920

International Capital Mobility: Which Structural Policies Reduce Financial Fragility?

Ahrend, Rudiger; Goujard, Antoine; Schwellnus, Cyrille - Economics Department, Organisation de Coopération et … - 2012

integration has been a major vector of contagion, and even more so when cross-border bank lending was primarily short …-term. Vulnerability to contagion has been lower when global liquidity has been abundant, underlining the importance of major central banks …, typically through their effects on the composition of the external financial account or on the vulnerability to contagion …

Persistent link: https://www.econbiz.de/10011276720

International Capital Mobility and Financial Fragility - Part 1. Drivers of Systemic Banking Crises: The Role of Bank-Balance-Sheet Contagion and Financial Account Structure

Ahrend, Rudiger; Goujard, Antoine - Economics Department, Organisation de Coopération et … - 2012

newly-constructed measures of contagion shocks. These new measures capture well the contagion observed e.g. in the wake of … the Mexican and Asian crises, and confirm that contagion shocks observed in 2009/10 dwarfed those observed during previous … international financial integration are found to amplify contagion shocks and increase crisis risk, such as integration through …

Persistent link: https://www.econbiz.de/10009351419

International Capital Mobility and Financial Fragility - Part 6. Are all Forms of Financial Integration Equally Risky in Times of Financial Turmoil?: Asset Price Contagion During t...

Ahrend, Rudiger; Goujard, Antoine - Economics Department, Organisation de Coopération et … - 2012

integration for asset price contagion in crisis times. Defining contagion as the transmission of financial market movements beyond … the co-movements that would occur in “tranquil” times, the paper looks into the presence of contagion in the period of … formes d'intégration financière sont-elles risquées en cas de chocs financiers? : La contagion des prix des actifs lors de la …

Persistent link: https://www.econbiz.de/10011276977

The Changing Role of the Exchange Rate for Macroeconomic Adjustment

Ollivaud, Patrice; Rusticelli, Elena; Schwellnus, Cyrille - Economics Department, Organisation de Coopération et … - 2015

Recent episodes of large exchange rate movements, such as for Japan or the United Kingdom, have typically not been associated with large changes in trade balances and despite the polarisation of international investment positions large currency fluctuations during the global crisis of 2008-09...

Persistent link: https://www.econbiz.de/10011276917

The Post-crisis Narrowing of International Imbalances: Cyclical or Durable?

Ollivaud, Patrice; Schwellnus, Cyrille - Economics Department, Organisation de Coopération et … - 2013

After peaking in the first half of 2008, international imbalances declined sharply during the global crisis of 2008-09, in part reflecting cyclical factors such as large contractions in domestic demand on the back of bursting housing bubbles in a number of deficit countries, as well as large...

Persistent link: https://www.econbiz.de/10011276974

Structural Reforms to Reduce Unemployment and Restore Competitiveness in Ireland

Pina, Álvaro - Economics Department, Organisation de Coopération et … - 2011

After a recession of historic proportions, an export-led recovery is gaining traction in Ireland. The pace of recovery, however, varies sharply across sectors. While export-oriented manufacturing and services, led by large multinationals, have reached record-high levels of output,...

Persistent link: https://www.econbiz.de/10009364450