Narrow search
Showing 1 - 10 of 3,233
Cover Image
Business Cycles and the Asset Structure of Foreign Trade
Baxter, Marianne - 1994
International financial market linkages are widely believed to be important for the international transmission of business cycles, since these govern the extent to which individuals can smooth consumption in the presence of country-specific shocks to income. This paper develops a two-country,...
Persistent link: https://www.econbiz.de/10012473924
Cover Image
International Business Cycle Synchronization in Historical Perspective
Bordo, Michael D. - 2010
evidence for the past 20 or 30 years and which has produced mixed results. We then examine the role of global shocks and shock …
Persistent link: https://www.econbiz.de/10012462553
Cover Image
TFP, News, and "Sentiments : " The International Transmission of Business Cycles
Levchenko, Andrei A. - 2015
We propose a novel identification scheme for a non-technology business cycle shock, that we label "sentiment." This is … a shock orthogonal to identified surprise and news TFP shocks that maximizes the short-run forecast error variance of an … shock produces a business cycle in the US, with output, hours, and consumption rising following a positive shock, and …
Persistent link: https://www.econbiz.de/10012457658
Cover Image
Global House Price Fluctuations : Synchronization and Determinants
Hirata, Hideaki - 2012
We examine the properties of house price fluctuations across eighteen advanced economies over the past forty years. We ask two specific questions: First, how synchronized are housing cycles across these countries? Second, what are the main shocks driving movements in global house prices? To...
Persistent link: https://www.econbiz.de/10012460298
Cover Image
Cyclical Dispersion in Expected Defaults
Gomes, João F. - 2017
A growing literature shows that credit indicators forecast aggregate real outcomes. While researchers have proposed various explanations, the economic mechanism behind these results remains an open question. In this paper, we show that a simple, frictionless, model explains empirical findings...
Persistent link: https://www.econbiz.de/10012454978
Cover Image
World Shocks, World Prices, and Business Cycles : An Empirical Investigation
Fernández, Andrés - 2016
Most existing studies of the macroeconomic effects of global shocks assume that they are mediated by a single intratemporal relative price such as the terms of trade and possibly an intertemporal price such as the world interest rate. This paper presents an empirical framework in which multiple...
Persistent link: https://www.econbiz.de/10012455847
Cover Image
The Shrinking Advantage of Market Potential
Brülhart, Marius - 2019
How does a country's economic geography evolve along the development path? This paper documents recent employment growth in 18,961 regions in eight of the world's main economies. Overall, market potential is losing importance, and local density is gaining importance, as correlates of local...
Persistent link: https://www.econbiz.de/10012480470
Cover Image
Hoarding for Stormy Days - Test of International Reserves Providing Financial Buffer Services
Aizenman, Joshua - 2019
reserves and applies it to 8 of the largest Emerging Markets (BRICS, Indonesia, Mexico, Turkey) during 2000-2019. The efficient …
Persistent link: https://www.econbiz.de/10012479858
Cover Image
Moderate Inflation
Dornbusch, Rudiger - 1991
Inflation persists at moderate rates of 15-30 percent in all the countries that successfully reduced triple digit inflations in the 1980s. Several other countries, for example Colombia, have experienced moderate inflation for prolonged periods. In this paper we first set out theories of...
Persistent link: https://www.econbiz.de/10012475091
Cover Image
Endogenous Sudden Stops in a Business Cycle Model with Collateral Constraints : A Fisherian Deflation of Tobin's Q
Mendoza, Enrique G. - 2006
The current account reversals, large recessions, and price collapses that define Sudden Stops contradict the predictions of a large class of models in which the current account is a vehicle for consumption smoothing and investment financing. This paper shows that the quantitative predictions of...
Persistent link: https://www.econbiz.de/10012466098