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Debt Relief and Slow Recovery : A Decade after Lehman

Piskorski, Tomasz - 2018

We follow a representative panel of millions of consumers in the U.S. from 2007 to 2017 and document several facts on the long-term effects of the Great Recession. There were about six million foreclosures in the ten-year period after Lehman's collapse. Owners of multiple homes accounted for 25%...

Persistent link: https://www.econbiz.de/10012481050

Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises

Bordo, Michael D. - 2015

Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...

Persistent link: https://www.econbiz.de/10012457380

NBER International Seminar on Macroeconomics 2009

Reichlin, Lucrezia (contributor); … - International Seminar on Macroeconomics <32, 2009, Nikosia> - 2010

Persistent link: https://www.econbiz.de/10003937515

International Institutions for Reducing Global Financial Instability

Rogoff, Kenneth - 1999

This paper asks how recent developments in research on banking and sovereign lending can help inform the debate on choosing a new international financial architecture. A broad range of plans is considered, including a global lender of last resort facility, an international bankruptcy court, an...

Persistent link: https://www.econbiz.de/10012471525

Sovereign Risk and Financial Risk

Gilchrist, Simon; Wei, Bin; Yue, Vivian Z.; Zakrajšek, Egon - National Bureau of Economic Research - 2021

In this paper, we study the interplay between sovereign risk and global financial risk. We show that a substantial portion of the comovement among sovereign spreads is accounted for by changes in global financial risk. We construct bond-level sovereign spreads for dollar-denominated bonds issued...

Persistent link: https://www.econbiz.de/10012696410

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

Is Financial Globalization in Reverse After the 2008 Global Financial Crisis? Evidence from Corporate Valuations

Doidge, Craig - 2020

For the last two decades, non-US firms have lower valuations than similar US firms. We study the evolution of this valuation gap to assess whether financial markets are less integrated after the 2008 global financial crisis (GFC). The valuation gap for firms from developed markets increases by...

Persistent link: https://www.econbiz.de/10012481979

Over The Cliff : From the Subprime to the Global Financial Crisis

Mishkin, Frederic S. - 2010

This paper examines what transformed a significant, but relatively mild, financial disruption into a full-fledged financial crisis. It discusses why, although the Lehman Brothers bankruptcy was a key trigger for the global financial crisis, three other events were at least as important: the AIG...

Persistent link: https://www.econbiz.de/10012462048

Questions and Answers about the Financial Crisis

Gorton, Gary B. - 2010

All bond prices plummeted (spreads rose) during the financial crisis, not just the prices of subprime- related bonds. These price declines were due to a banking panic in which institutional investors and firms refused to renew sale and repurchase agreements (repo) - short-term, collateralized,...

Persistent link: https://www.econbiz.de/10012462865

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 … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments … of exposing the economy to a systemic panic. This structural problem can be alleviated if governments around the world …

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

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