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Towards a macroprudential surveillance and remedial policy formulation system for monitoring financial crisis
Bhattacharyay, Biswa N. - 2009
Several developing economies witnessed a large number of systemic financial and currency crises since the 1980s which resulted in severe economic, social, and political problems. The devastating impact of the 1982 and 1994-95 Mexican crises, the 1997-98 Asian financial crisis, the 1998 Russian...
Persistent link: https://www.econbiz.de/10010271785
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Early warning system for economic and financial risks in Kazakhstan
Bhattacharyay, Biswa N.; Dlugosch, Dennis; Kolb, Benedikt; … - 2009
This paper proposes a macro-prudential financial soundness analysis that can be used by most developing and transformation countries with or without crisis experience as well as by developed countries with limited data. The objective is to detect economic and financial sector vulnerability,...
Persistent link: https://www.econbiz.de/10010271787
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Asset Level Heterogeneity, Competition and Export Incentives: The Role of Credit Rationing
Marjit, Sugata; Ray, Moushakhi - 2020
Firm heterogeneity is mostly discussed in the literature from the viewpoint of productivity differential. In contrast this paper recognizes wealth heterogeneity as an important factor that results in firm heterogeneity. The issue of wealth heterogeneity and export incentive through credit market...
Persistent link: https://www.econbiz.de/10012207973
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Asset Level Heterogeneity, Competition and Export Incentives : The Role of Credit Rationing
Marjit, Sugata - 2020
Firm heterogeneity is mostly discussed in the literature from the viewpoint of productivity differential. In contrast this paper recognizes wealth heterogeneity as an important factor that results in firm heterogeneity. The issue of wealth heterogeneity and export incentive through credit market...
Persistent link: https://www.econbiz.de/10012836956
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Stock Markets, Banks and Long Run Economics Growth: A Panel Cointegration-Based Analysis
Cavenaile, Laurent; Gengenbach, Christian; Palm, Franz - 2013
and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence … a single cointegrating vector between financial development and growth and of causality going from financial development … to economic growth. We find little evidence of reverse causation as well as bi-directional causality. We interpret this …
Persistent link: https://www.econbiz.de/10010328841
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Financial dollarization and European Union membership
Neanidis, Kyriakos C. - 2010
We analyze the effect of European Union (EU) membership on financial dollarization for the Central and Eastern European countries. Using a unique monthly dataset that spans about two decades, we find that both the accession process toward EU membership and EU entry have a direct impact on...
Persistent link: https://www.econbiz.de/10010270541
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Analysis of monetary policy and financial stability: a new paradigm
Goodhart, Charles A. E.; Osorio, Carolina; Tsomocos, … - 2009
This paper introduces agent heterogeneity, liquidity, and endogenous default to a DSGE framework. Our model allows for a comprehensive assessment of regulatory and monetary policy, as well as welfare analysis in the different sectors of the economy. Due to liquidity and endogenous default, the...
Persistent link: https://www.econbiz.de/10010272885
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The Loan Puzzle. A Study of Loans to Different Groups in the USA.
Cafiso, Gianluca - 2020
We study loans from banking and non-banking lenders to different groups of borrowers in order to unveil significant differences on how those respond to a shock and evaluate possible alternative explanations for such differences. The objective is to gain insights useful to explain the loan...
Persistent link: https://www.econbiz.de/10012207940
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The Contribution of Loans to Economic Activity.
Cafiso, Gianluca - 2020
We study the contribution of loans, granted to different borrower groups, to economic activity in the USA over the period 1971q1-2018q4. Significant economic recessions occurred along the period considered, we center our discussion around the recent Global Financial Crisis. Results are delivered...
Persistent link: https://www.econbiz.de/10012314817
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Heterogeneous Loans and the Effect of Monetary Interventions
Cafiso, Gianluca; Rivolta, Giulia - 2021
The amount of credit in the economy is a heterogeneous aggregate that can be analyzed across different dimensions. Considering such dimensions provides insights into the effect of monetary policy interventions because the credit components are observed to respond differently. Several possible...
Persistent link: https://www.econbiz.de/10012657900