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The Effect of U.S. Stress Tests on Monetary Policy Spillovers to Emerging Markets

Liu, Emily - 2019

This paper shows that monetary policy and prudential policies interact. U.S. banks issue more commercial and industrial loans to emerging market borrowers when U.S. monetary policy eases. The effect is less pronounced for banks that are more constrained through the U.S. bank stress tests,...

Persistent link: https://www.econbiz.de/10012858696

A Model for International Spillovers to Emerging Markets

Houssa, Romain - 2019

This paper develops a small open economy (SOE) dynamic stochastic general equilibrium (DSGE) model that helps to explain business cycle synchronization between an emerging market and advanced economies. The model captures the specificities of both economies (e.g. primary commodity,...

Persistent link: https://www.econbiz.de/10012866875

Interest Rate Spillovers from the United States : Expectations, Term Premia and Macro-Financial Vulnerabilities

Mehrotra, Aaron N. - 2019

We analyse how movements in the components of sovereign bond yields in the United States affect long-term rates in 10 advanced and 21 emerging economies. The paper documents significant global spillovers from both the expectations and term premia components of long-term rates in the United...

Persistent link: https://www.econbiz.de/10012860570

Estimating General Equilibrium Spillovers of Large-Scale Shocks

Huber, Kilian - 2021

Researchers use (quasi-)experimental methods to estimate how shocks affect directly treated firms and households. Such methods typically do not account for general equilibrium spillover effects. I outline a method that estimates spillovers operating among groups of firms and households. I argue...

Persistent link: https://www.econbiz.de/10013237223

We are All in the Same Boat : Cross-Border Spillovers of Climate Shocks Through International Trade and Supply Chain

Feng, Alan; Li, Haishi; Wang, Yulin - 2023

affects countries’ macro-financial performance: the cross-border spillover effects that propagate through international trade … infrastructure – ports – decrease the affected country’s imports and exports and reduce economic output in major trade partner (both … of the major trade partner countries. Exposures to foreign long-term climate change risks reduce the asset price …

Persistent link: https://www.econbiz.de/10014357033

Evaluation of long-dated investments under uncertain growth trend, volatility and catastrophes

Gollier, Christian - 2012

Because of the uncertainty about how to model the growth process of our economy, there is still much confusion about which discount rates should be used to evaluate actions having long-lasting impacts, as in the contexts of climate change, social security reforms or large public infrastructures...

Persistent link: https://www.econbiz.de/10010291529

Fiscal-Financial Vulnerabilities

Schuknecht, Ludger - 2019

The paper analyses the linkages from financial developments to public finances. It maps and discusses the transmission channels to fiscal variables. These channels include asset prices, financing conditions, balance sheets of banks, non-banks and central banks and international linkages. The...

Persistent link: https://www.econbiz.de/10012864940

International financial integration and real exchange rate long-run dynamics in emerging countries : some panel evidence

Caporale, Guglielmo Maria; Amor, Thouraya Hadj; Rault, … - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10010266058

On the Exchange Rate and Economic Policy Uncertainty Nexus : A Panel VAR Approach for Emerging Markets

Abid, Abir - 2020

We examine the Exchange Rate Volatility (ERV) response to the Economic Policy Uncertainty (EPU) shocks from a panel VAR perspective used for the first time in this context. Focusing on Emerging Market Economies (EME), our noteworthy findings postulate that (a) both home and foreign EPU shocks...

Persistent link: https://www.econbiz.de/10012837681

Different No More : Country Spreads in Advanced and Emerging Economies

Born, Benjamin - 2020

Interest-rate spreads fluctuate widely across time and countries. We characterize their behavior using some 3,200 quarterly observations for 21 advanced and 17 emerging economies since the early 1990s. Before the financial crisis, spreads are 10 times more volatile in emerging economies than in...

Persistent link: https://www.econbiz.de/10012841745

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