Showing 1 - 10 of 29
The 2008 financial crisis is the worst economic crisis since the Great Depression of 1929. It has been characterised by a housing bubble in a context of rapid credit expansion, high risk-taking and exacerbated financial leverage, leading to deleveraging and credit crunch when the bubble burst....
Persistent link: https://www.econbiz.de/10010266095
Do experts adjust their policy recommendations when the facts change? We conduct a large-scale randomized experiment among 1,224 economic experts across 109 countries that includes two treatments. The first treatment is the geographic and temporal variation in the initial spread of Covid-19...
Persistent link: https://www.econbiz.de/10012822503
This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is...
Persistent link: https://www.econbiz.de/10010264057
and output growth. We also find that MPC size influences the success of monetary targeting regimes. In contrast, there is …
Persistent link: https://www.econbiz.de/10010264342
Since 2004, China has been backed into a situation where the renminbi is expected to go ever higher against the dollar, and this one-way bet has led to a loss of domestic monetary control. Combined with a more general flight from the U.S. dollar, the resulting monetary explosion in China...
Persistent link: https://www.econbiz.de/10010275871
This paper analyses the relationship between international trade and financial development in six EU members from Central and Eastern Europe (CEEC-6) using dynamic panel data approaches, specifically the system Generalized Method of Moments (GMM) and pooled mean group (PMG) estimators. The...
Persistent link: https://www.econbiz.de/10013315285
contribution to growth. Estimates of the long-run numeracy development of most countries in Asia, the Middle East, Africa, America … numeracy as measured by the age-heaping strategy for long-run economic growth. In a variety of specifications, numeracy … mattered quite strongly for growth patterns around the globe. …
Persistent link: https://www.econbiz.de/10010264304
This paper presents an analysis of the effect of bureaucratic corruption on economic growth through a public finance … seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …
Persistent link: https://www.econbiz.de/10010264401
. We challenge this view by arguing that a number of judicial procedures foster economic growth by increasing the … economic growth of 15 judicial procedures. Employing a standard growth model, we find in a cross-section of 67 countries that … timeliness, writtenas opposed to oralprocedures, and the right to counsel have a positive effect on growth, whereas the number of …
Persistent link: https://www.econbiz.de/10010264530
between political stability and economic growth which is stronger and empirically more robust in countries with high … bureaucratic costs. Motivated by these results, which contrast with previous contributions, we develop a model of growth with … between the probability that the incumbent politician remains in office and average economic growth in the presence of high …
Persistent link: https://www.econbiz.de/10010264563