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Banking Crises and Boom-Bust Dynamics: Evidence for Italy (1861-2016)

Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta; … - 2018

The financial crises of 2007-2008 and the subsequent worldwide recession show the importance of exploring the correlation between financial and real crises. Starting from our new estimation of the Italian business cycle (Bartoletto et al., 2017), we analyze the linkage between banking crises and...

Persistent link: https://www.econbiz.de/10011872029

Unpacking Economic Uncertainty — Measuring the Firm, Sector and Aggregate Components

Mohades, Siavash; Piccillo, Giulia; Treibich, Tania - 2024

We introduce a novel method for measuring economic uncertainty at the firm, sector, and aggregate levels using sales volatility and validate it by comparison with existing macroeconomic uncertainty measures. We use Compustat firms data in the period 2000-2022 to construct our uncertainty...

Persistent link: https://www.econbiz.de/10014534290

Financial reform and banking crises

Shehzad, Choudhry Tanveer - 2009

We examine the impact of various dimensions of financial reform on the likelihood of systemic and non-systemic banking crises. Using new financial reform measures for a large sample of developing and developed countries for the period 1973 to 2002, our multivariate probit modeling results...

Persistent link: https://www.econbiz.de/10010266048

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

Modigliani Meets Minsky: Inequality, Debt, and Financial Fragility in America, 1950-2016

Bartscher, Alina K.; Kuhn, Moritz; Schularick, Moritz; … - 2020

This paper studies the secular increase in U.S. household debt and its relation to growing income inequality and financial fragility. We exploit a new household-level dataset that covers the joint distributions of debt, income, and wealth in the United States over the past seven decades. The...

Persistent link: https://www.econbiz.de/10012214184

Lender of last resort and bank closure policy

Freixas, Xavier; Parigi, Bruno Maria - 2008

of last resort and other safety net issues. We devote particular emphasis to the analysis of systemic risk and contagion …

Persistent link: https://www.econbiz.de/10010264351

Volatility spillovers and contagion from mature to emerging stock markets

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanismcontagionduring turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41 emerging...

Persistent link: https://www.econbiz.de/10010264556

Global and regional spillovers in emerging stock markets : a multivariate GARCH-in-mean analysis

Beirne, John; Caporale, Guglielmo Maria; … - 2009

This paper examines global (mature market) and regional (emerging market) spillovers in local emerging stock markets. Tri-variate VAR GARCH(1,1)-in-mean models are estimated for 41 emerging market economies (EMEs) in Asia, Europe, Latin America, and the Middle East. The models capture a range of...

Persistent link: https://www.econbiz.de/10010265964

Stock market integration between three CEECs, Russia and the UK

Caporale, Guglielmo Maria; Spagnolo, Nicola - 2010

Russia. The adopted framework allows to analyse interdependence by estimating volatility spillovers, and also contagion by … evidence on possible changes in the transmission mechanism (namely, on whether there is contagion) can be obtained by examining … spillovers between the three CEECs considered and the UK (contagion). …

Persistent link: https://www.econbiz.de/10010270472

Bank bailouts, international linkages and cooperation

Niepmann, Friederike; Schmidt-Eisenlohr, Tim - 2011

intervention have stronger effects beyond borders. We provide a model of international contagion allowing for bank bailouts. While …

Persistent link: https://www.econbiz.de/10010274723