Showing 1 - 10 of 3,523
While substantial empirical research has evaluated the question of whether capital account openness promotes economic growth, this paper finds empirical evidence for cases where the opposite is true--that a policy of capital controls can promote economic growth, when combined with a policy of...
Persistent link: https://www.econbiz.de/10014226141
(increase) world interest rates but also to increase (reduce) private leverage. This in turn increased (decreased) volatility in …
Persistent link: https://www.econbiz.de/10015056133
cyclical pattern. Over that cycle, world asset prices, leverage, and capital flows move in concert with global growth …
Persistent link: https://www.econbiz.de/10014247924
We study the daily behavior of supermarket prices and product availability following two recent natural disasters: the … 2010 earthquake in Chile and the 2011 earthquake in Japan. In both cases there was an immediate and persistent effect on … product availability. The number of goods available for sale fell 32% in Chile and 17% in Japan from the day of the disaster …
Persistent link: https://www.econbiz.de/10012459188
such disasters and adapt to their increased frequency. We examine this issue using a the latest wave of the World …Climate change is making natural disasters more frequent, yet little is known about the capacity of firms to withstand … with geocoded data on natural disasters and previous WMS waves, we create a panel spanning 8,000 firms across 33 countries …
Persistent link: https://www.econbiz.de/10014576624
We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the 1970-2007 period. Specifically, we investigate the degree to which the active management of international reserves and exchange rates impacted the transmission of international...
Persistent link: https://www.econbiz.de/10012460965
We use a general open-economy wedge-accounting framework to characterize the set of shocks that can account for major exchange rate puzzles. Focusing on a near-autarky behavior of the economy, we show analytically that all standard macroeconomic shocks -- including productivity, monetary,...
Persistent link: https://www.econbiz.de/10014447328
This study examines the international repercussions of national sterilization policies under fixed exchange rates and managed flexibility. The effects of sterilization on the country pursuing the policy are well-known, but the adverse effects on other countries have not been adequately explored....
Persistent link: https://www.econbiz.de/10012478757
predictors of the financial and trade shock during the crisis. The severity of the financial shock was further exacerbated by … financial ties to the U.S., while the trade shock was more severe in EMs with a larger commodity export share …
Persistent link: https://www.econbiz.de/10012462210
In this paper we study the degree to which Emerging Markets (EMs) adjusted to the global liquidity crisis by drawing down their international reserves (IR). Overall, we find a mixed and complex picture. Intriguingly, only about half of the EMs depleted their IR as part of the adjustment...
Persistent link: https://www.econbiz.de/10012463260