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The Finnish Great Depression : From Russia with Love

Gorodnichenko, Yuriy - 2009

During the period 1991-93, Finland experienced the deepest economic downturn in an industrialized country since the … of Soviet-Finnish trade can explain key features of Finland's Great Depression. We also show that Finland's Great … similar trade collapse. However, as a western democracy with developed capital markets and institutions, Finland faced none of …

Persistent link: https://www.econbiz.de/10012463774

Spillovers and Spillbacks

Acharya, Sushant; Pesenti, Paolo A. - National Bureau of Economic Research - 2024

We study international monetary policy spillovers and spillbacks in a tractable two-country Heterogeneous Agent New Keynesian model. Relative to Representative Agent (RANK) models, our framework introduces a precautionary-savings channel, as households in both countries face uninsurable income...

Persistent link: https://www.econbiz.de/10014512099

Decomposing the great trade collapse : products, prices, and quantities in the 2008-2009 crisis

Haddad, Mona - 2011

"We identify a new set of stylized facts on the 2008-2009 trade collapse that we hope can be used to shed light on the importance of demand and supply-side factors in explaining the fall in trade. In particular, we decompose the fall in international trade into product entry and exit, price...

Persistent link: https://www.econbiz.de/10011395038

Trade and the Global Recession

Eaton, Jonathan - 2011

We develop a dynamic multi-country general equilibrium model to investigate forces acting on the global economy during the Great Recession and ensuing recovery. Our multi-sector framework accounts completely for countries' trade, investment, production, and GDPs in terms of different sets of...

Persistent link: https://www.econbiz.de/10012461991

Decomposing the Great Trade Collapse : Products, Prices, and Quantities in the 2008-2009 Crisis

Haddad, Mona - 2010

We identify a new set of stylized facts on the 2008-2009 trade collapse that we hope can be used to shed light on the importance of demand and supply-side factors in explaining the fall in trade. In particular, we decompose the fall in international trade into product entry and exit, price...

Persistent link: https://www.econbiz.de/10012462402

The Great Trade Collapse of 2008-09 : An Inventory Adjustment?

Alessandria, George - 2010

This paper examines the role of inventories in the decline of production, trade, and expenditures in the US in the economic crisis of late 2008 and 2009. Empirically, we show that international trade declined more drastically than trade-weighted production or absorption and there was a sizeable...

Persistent link: https://www.econbiz.de/10012462596

The Great Trade Collapse

Bems, Rudolfs - 2012

We survey recent literature on the causes of the collapse in international trade during the 2008-2009 global recession. We argue that the evidence points to the collapse in aggregate expenditure, concentrated on trade-intensive durable goods, as the main driver of the trade collapse. Inventory...

Persistent link: https://www.econbiz.de/10012460028

Foreign Trade in Eastern Europe's Transition : Early Results

Rodrik, Dani - 1992

By the end of 1991, Czechoslovakia, Hungary and Poland have achieved a substantial degree of openness to foreign trade. In all three countries, trade is now de-monopolized and licensing and quotas playa very small role. Exchange controls have virtually disappeared for current-account...

Persistent link: https://www.econbiz.de/10012474915

Capital Controls on Outflows : New Evidence and a Theoretical Framework

Chang, Roberto; Fernández, Andrés; Martinez, Humberto - National Bureau of Economic Research - 2024

We study capital controls on outflows (CCOs) in situations of macroeconomic and financial distress. We present novel empirical evidence indicating that CCO implementation is associated with crises and declines in GDP growth. We then develop a theoretical framework that is consistent with such...

Persistent link: https://www.econbiz.de/10015056204

Stagflation and Topsy-Turvy Capital Flows

Bengui, Julien; Coulibaly, Louphou - National Bureau of Economic Research - 2022

Are unregulated capital flows excessive during a stagflation episode? We argue that they likely are, owing to a macroeconomic externality operating through the economy's supply side. Inflows raise domestic wages through a wealth effect on labor supply and cause unwelcome upward pressure on...

Persistent link: https://www.econbiz.de/10013462700

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