Showing 1 - 10 of 44
Persistent link: https://www.econbiz.de/10009486294
This study quantifies the importance of a Global Financial Cycle (GFCy) for capital flows. We use capital flow data dis-aggregated by direction and type between 1990Q1 and 2015Q5 for 85 countries, and conventional techniques, models and metrics. Since the GFCy is an unobservable concept, we use...
Persistent link: https://www.econbiz.de/10011799668
This paper analyzes the interactions between business and financial cycles using an extensive database of over 200 business and 700 financial cycles in 44 countries for the period 1960:1-2007:4. Our results suggest that there are strong linkages between different phases of business and financial...
Persistent link: https://www.econbiz.de/10014400859
Financial frictions have been identified as key factors affecting economic fluctuations and growth. But, can institutional reforms reduce financial frictions? Based on a canonical investment model, we consider two potential channels: (i) financial transaction costs at the firm level; and (ii)...
Persistent link: https://www.econbiz.de/10014397491
This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper...
Persistent link: https://www.econbiz.de/10012671036
This paper investigates how past experience with banking crises influences an individual's trust in banks. We combine data on banking crises for the period 1970-2014 with individual data on trust in banks for 52 countries. We find that experiencing a banking crisis diminishes a person's trust in...
Persistent link: https://www.econbiz.de/10012161136
Persistent link: https://www.econbiz.de/10009486246
We provide a comprehensive empirical characterization of the linkages between key macroeconomic and financial variables around business and financial cycles for 21 OECD countries over the period 1960–2007. In particular, we analyze the implications of 122 recessions, 112 (28) credit...
Persistent link: https://www.econbiz.de/10014400787
This paper provides a comprehensive analysis of financial cycles using a large database covering 21 advanced countries over the period 1960:1-2007:4. Specifically, we analyze cycles in credit, house prices, and equity prices. We report three main results. First, financial cycles tend to be long...
Persistent link: https://www.econbiz.de/10014400944
financial inclusion, we draw on data for 117 countries in the World Bank's Global Findex database and perform logit estimations …
Persistent link: https://www.econbiz.de/10012195359