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Follow the Money : Does the Financial Sector Intermediate Natural Resource Windfalls?

Beck, Thorsten - 2017

in countries that experience an unexpected natural resource windfall as measured by shocks to exogenous world prices …

Persistent link: https://www.econbiz.de/10012960101

van der Ploeg, Rick - 2013

Are natural resources a “curse” or a “blessing”? The empirical evidence suggests either outcome is possible. The paper surveys a variety of hypotheses and supporting evidence for why some countries benefit and others lose from the presence of natural resources. These include that a...

Persistent link: https://www.econbiz.de/10013094532

Globalization and the Rise of Mega-Cities in the Developing World

van der Ploeg, Rick; Poelhekke, Steven - 2021

Thomas Friedman has argued in The World is Flat that those who deny rapid globalization will not survive in the global … economy. First, we critically discuss Friedman's views and highlight the new globalization driven by outsourcing and vertical … world. The world is not flat, and the developing world certainly is not. Still, mega-cities tend to become too big. Their …

Persistent link: https://www.econbiz.de/10013316592

Leveraged Bubbles

Jorda, Oscar - 2015

What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while others blow over. We demonstrate that what makes...

Persistent link: https://www.econbiz.de/10013014986

The Great Mortgaging : Housing Finance, Crises, and Business Cycles

Jordà, Òscar - 2015

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks' balance sheets doubled in the course of the 20th century, driven by a sharp rise of...

Persistent link: https://www.econbiz.de/10013032225

Sovereigns Versus Banks : Credit, Crises, and Consequences

Jorda, Oscar - 2014

Two separate narratives have emerged in the wake of the Global Financial Crisis. One interpretation speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and...

Persistent link: https://www.econbiz.de/10013062419

Betting the House

Jorda, Oscar - 2015

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10013030308

The leverage factor : credit cycles and asset returns

Taylor, Alan M.; Davis, Joshua M. - 2019

Persistent link: https://www.econbiz.de/10012206535

Financial crises : a survey

Sufi, Amir; Taylor, Alan M. - 2021

Persistent link: https://www.econbiz.de/10012602155

The Rate of Return on Everything, 1870-2015

Jordà, Òscar - 2018

This paper answers fundamental questions that have preoccupied modern economic thought since the 18th century. What is the aggregate real rate of return in the economy? Is it higher than the growth rate of the economy and, if so, by how much? Is there a tendency for returns to fall in the...

Persistent link: https://www.econbiz.de/10012921279