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Capelle, Damien; Pellegrino, Bruno - 2023

We examine the impact of the last five decades of financial globalization on world GDP and income distribution, using a … pattern Unbalanced Financial Globalization. We then simulate a counterfactual trajectory of the world economy where the RKO … wedges are fixed at their pre-globalization levels. We find that unbalanced financial globalization led to a worsening of …

Persistent link: https://www.econbiz.de/10014340224

What do we know about the global financial safety net? : a new comprehensive data set

Scheubel, Beatrice; Stracca, Livio - 2016

This paper critically reviews the theoretical basis for the provision of the global financial safety net (GFSN) and provide a comprehensive database covering four elements of the GFSN (foreign exchange reserves, IMF financing, central bank swap lines and regional financing arrangements) for over...

Persistent link: https://www.econbiz.de/10011565481

The global effects of Covid-19-induced uncertainty

Caggiano, Giovanni; Castelnuovo, Efrem; Kima, Richard - 2020

We estimate a three-variate VAR using proxies of global financial uncertainty, the global financial cycle, and world … outbreak. We predict the cumulative loss in world output one year after the uncertainty shock due to Covid-19 to be about 14%. …

Persistent link: https://www.econbiz.de/10012213164

The evolution of offshore renminbi trading : 2016 to 2019

Cheung, Yin-Wong; Grimm, Louisa; Westermann, Frank - 2020

We study the evolution of offshore renminbi trading between 2016 and 2019. The diffusion behaviour of offshore renminbi trading during this period is different from the one between 2013 and 2016. The geographical diffusion process displayed in the 2016-2019 period, in addition to the previously...

Persistent link: https://www.econbiz.de/10012234514

Does financial integration spur economic growth? : New evidence from the first era of financial globalization

Schularick, Moritz (contributor); … - 2006

Does international financial integration boost economic growth? The question has been discussed controversially for a long time. As of yet, robust evidence for a positive impact is lacking (Edison et al., 2002). However, there is substantial narrative evidence from economic history that...

Persistent link: https://www.econbiz.de/10003301349

The golden hedge : from global financial crisis to global pandemic

Burdekin, Richard C. K.; Tao, Ran - In: Economic modelling 95 (2021), pp. 170-180

Persistent link: https://www.econbiz.de/10012695921

Volatility spillovers and the global financial cycle across economies : evidence from a global semi-structural model

Gómez Pineda, Javier Guillermo - In: Economic modelling 90 (2020), pp. 331-373

Persistent link: https://www.econbiz.de/10012428921

Global uncertainty

Caggiano, Giovanni; Castelnuovo, Efrem - 2021

the world output loss that materialized during the great recession would have been 13% lower in absence of GFU shocks. We … after GFU shocks, the larger the world output contraction is. …

Persistent link: https://www.econbiz.de/10012431805

Barriers to global capital allocation

Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2021

benchmark calibration, we estimate that the capital misallocation induced by these barriers reduces World GDP by 7%, compared to …-country inequality: the standard deviation of log capital per employee is 80% higher than it would be in a world without barriers to …

Persistent link: https://www.econbiz.de/10012514947

Global and regional financial integration in emerging Asia : evidence from stock markets

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; You, Kefei - 2017

This paper employs a price-based measure of integration, namely stock return differentials between ten emerging Asian economies and the US (as an indicator of global integration), as well as Japan and the Asian region (as two alternative indicators of regional integration), to test for mean...

Persistent link: https://www.econbiz.de/10011654611