Similar Search Results

Systemic Crisis and Growth Revisited : Has the Global Financial Crisis Marked a New Era?

Steinkamp, Sven - 2018

Occasional crises have been shown to be part of growth enhancing mechanism (see Rancière, Tornell and Westermann, 2008). In this paper, we document that neither the stereotypical case study of India vs. Thailand, nor the benchmark growth-regression in this earlier research support this result...

Persistent link: https://www.econbiz.de/10012914607

Credit Booms, Debt Overhang and Secular Stagnation

Illing, Gerhard - 2018

Why do advanced economies fall into prolonged periods of economic stagnation, particularly in the aftermath of credit booms? We present a model of persistent aggregate demand shortage based on strong liquidity preferences of households, in which we incorporate financial imperfections to study...

Persistent link: https://www.econbiz.de/10012927578

Stock Markets, Banks and Long Run Economic Growth : A Panel Cointegration-Based Analysis

Cavenaile, Laurent - 2013

The aim of this paper is to investigate the long run relationship between the development of banks and stock markets and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence to test the number of cointegrating vectors among these...

Persistent link: https://www.econbiz.de/10013071385

Granularity in Banking and Growth : Does Financial Openness Matter?

Bremus, Franziska - 2013

granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank … of itself, and it may also influence concentration in banking and thus the impact of bank-specific shocks for the … micro-macro panel dataset. Our research has three main findings: First, bank-level shocks significantly impact on GDP …

Persistent link: https://www.econbiz.de/10013077036

Did Austerity Cause Brexit?

Fetzer, Thiemo - 2018

Did austerity cause Brexit? This paper shows that the rise of popular support for the UK Independence Party (UKIP), as the single most important correlate of the subsequent Leave vote in the 2016 European Union (EU) referendum, along with broader measures of political dissatisfaction, are...

Persistent link: https://www.econbiz.de/10012910997

Evaluation of Long-Dated Investments Under Uncertain Growth Trend, Volatility and Catastrophes

Gollier, Christian - 2021

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/10013315817

How I Learned to Stop Worrying and Love the Crisis

Fidrmuc, Jan - 2012

We investigate the effects of economic crises on the subsequent economic performance, economic reform, democratization and institutional change. Our analysis is based on a sample of post-communist countries, most of which experienced severe economic crises during the 1990s. We find that the...

Persistent link: https://www.econbiz.de/10013111368

Robust Growth Determinants

Doppelhofer, Gernot - 2011

This paper investigates the robustness of determinants of economic growth in the presence of model uncertainty, parameter heterogeneity and outliers. The robust model averaging approach introduced in the paper uses a flexible and parsimonious mixture modeling that allows for fat-tailed errors...

Persistent link: https://www.econbiz.de/10013129859

Natural Resource Endowment : A Mixed Blessing?

Gylfason, Thorvaldur - 2011

that arise along the way. Special attention is given to Norway, the world's third largest oil exporter, and the role of …

Persistent link: https://www.econbiz.de/10013129862

Subjective Well-Being, Income, Economic Development and Growth

Sacks, Daniel W. - 2011

most countries around the world. Turning to the relationship between countries, we show that average life satisfaction is …

Persistent link: https://www.econbiz.de/10013132796