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NBER International Seminar on Macroeconomics 2009

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

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

Are Financial Crises Becoming Increasingly More Contagious? What is the Historical Evidence on Contagion?

Bordo, Michael D. - 2000

We examine the evidence of contagion during the pre World War I era and the interwar and contrast our findings with the …

Persistent link: https://www.econbiz.de/10012470837

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

Real Versus Pseudo-International Systemic Risk : Some Lessons from History

Bordo, Michael D. - 1995

This paper considers the meaning of domestic and international systemic risk. It examines scenarios that have been adduced as creating systemic risk both within countries and among them. It distinguishes between the concepts of real and pseudo-systemic risk. We examine the history of episodes...

Persistent link: https://www.econbiz.de/10012473496

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

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

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

Financial Globalization, Financial Crises and Contagion

Mendoza, Enrique G. - 2009

Two observations suggest that financial globalization played an important role in the recent financial crisis. First, more than half of the rise in net borrowing of the U.S. nonfinancial sectors since the mid 1980s has been financed by foreign lending. Second, the collapse of the U.S. housing...

Persistent link: https://www.econbiz.de/10012463217

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