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The 2007-2008 global financial crisis and the subsequent anemic recovery have rekindled academic interest in quantifying the impact of uncertainty on macroeconomic dynamics based on the premise that uncertainty causes economic activity to slow down and contract. In this paper, we study the...
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of war; 2) given the war, what explains the reduction in economic growth in terms physical capital, labor force, human … capital, and productivity; and 3) what potential growth scenarios for Syria there could be in the aftermath of war. Estimates …
Persistent link: https://www.econbiz.de/10012113903
increasing term structure for the risk premium. It also implies that, under the assumption that the cummulants of the … investment is larger than half of relative risk aversion. Another important consequence of parametric uncertainty is that the … risk premium is not proportional to the beta of the investment. We apply these general results to the case of an uncertain …
Persistent link: https://www.econbiz.de/10013315817
This paper studies the cross-country patterns of risky innovation and growth through the lens of international trade. It uses a simple theoretical framework of risky quality upgrading by firms under varying levels of financial development to derive two predictions. First, the mean rate of...
Persistent link: https://www.econbiz.de/10012257050
Myanmar's economy performed better in 2017/18 with a modest growth acceleration that partially reversed the deterioration experienced in 2016/17. While the outlook remains positive, risks have intensified. The economy experienced a broad-based increase in real GDP growth to 6.4 percent in...
Persistent link: https://www.econbiz.de/10012645306
and skewness of world gross domestic product growth are associated with ex-ante information of four risk factors: term … methodology also decomposes the variance and skewness of the predictive distribution accounting for the shares of selected risk … application to forecast world gross domestic product growth is used to test the Bayesian entropy methodology. Predictive variance …
Persistent link: https://www.econbiz.de/10012245794
Growth in emerging markets and developing economies (EMDEs) has generally disappointed since the 2009 global recession, with sizable forecast downgrades in most years. EMDEs continue to face downside risks to growth outlook over the next couple of years. These include heightened global policy...
Persistent link: https://www.econbiz.de/10012230795
-2018 may have caused a 1 percentage point decline in world trade growth. The paper also finds that the impact of policy …
Persistent link: https://www.econbiz.de/10012167789
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