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Financial Restructuring in Banking and Corporate Sector Crises : What Policies to Pursue?

Claessens, Stijn - 2001

We review the literature on resolving bank and corporate sector crises to identify government policies that affect the depth of a crisis and the ease and sustainability of recovery, and to analyze their fiscal cost. A consistent framework - including sufficient resources for loss-absorption and...

Persistent link: https://www.econbiz.de/10012470334

Pick Your Poison : The Choices and Consequences of Policy Responses to Crises

Forbes, Kristin J. - 2015

Countries choose different strategies when responding to crises. An important challenge in assessing the impact of these policies is selection bias with respect to relatively time-invariant country characteristics, as well as time-varying values of outcome variables and other policy choices....

Persistent link: https://www.econbiz.de/10012457679

The defining moment : the Great Depression and the American economy in the twentieth century

Bordo, Michael D. (ed.); Goldin, Claudia (ed.); … - 1998

Persistent link: https://www.econbiz.de/10013480824

COVID-19, Government Performance, and Democracy : Survey Experimental Evidence from 12 Countries

Becher, Michael; Longuet Marx, Nicolas; Pons, Vincent; … - National Bureau of Economic Research - 2021

Beyond its immediate impact on public health and the economy, the COVID-19 pandemic has put democracy under stress. While a common view is that people should blame the government rather than the political system for bad crisis management, an opposing view is that dissatisfaction with government...

Persistent link: https://www.econbiz.de/10012696423

Never Waste a Good Crisis : An Historical Perspective on Comparative Corporate Governance

Morck, Randall - 2009

Different economies at different times use different institutional arrangements to constrain the people entrusted with allocating the economy's capital and other resources. Comparative financial histories show these corporate governance regimes to be largely stable through time, but capable of...

Persistent link: https://www.econbiz.de/10012463607

Turbulence, Firm Decentralization and Growth in Bad Times

Aghion, Philippe - 2017

What is the optimal form of firm organization during "bad times"? We present a model of delegation within the firm to show that the effect is ambiguous. The greater turbulence following macro shocks may benefit decentralized firms because the value of local information increases (the "localist"...

Persistent link: https://www.econbiz.de/10012455327

Fighting Crises

Gorton, Gary - 2016

In fighting a financial crisis, opacity (keeping the names of banks borrowing at emergency lending facilities secret) and stigma (the cost of having a bank's name revealed) are desirable to restore confidence. Lending facilities raise the perceived average quality of all banks' assets. Opacity...

Persistent link: https://www.econbiz.de/10012455893

The International Transmission of Fiscal Expenditures and Budget Deficits in the World Economy

Frenkel, Jacob A. - 1984

This paper analyses the effects of fiscal policies on rates of interest and wealth in the world economy. Uncertainty … exert real effects. It is shown that a current budget deficit(resulting from a tax cut) raises world rates of interest. On … transmission. In the long run, a higher steady-state value of government debt raises the steady-state world rate of interest but …

Persistent link: https://www.econbiz.de/10012477559

Public Debt Through the Ages

Eichengreen, Barry - 2019

We consider public debt from a long-term historical perspective, showing how the purposes for which governments borrow have evolved over time. Periods when debt-to-GDP ratios rose explosively as a result of wars, depressions and financial crises also have a long history. Many of these episodes...

Persistent link: https://www.econbiz.de/10012479450

How Big (Small?) are Fiscal Multipliers?

Ilzetzki, Ethan - 2010

We contribute to the debate on the macroeconomic effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a...

Persistent link: https://www.econbiz.de/10012462178

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