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Credit shocks and macroeconomic fluctuations in emerging markets

Houssa, Romain; Mohimont, Jolan; Otrok, Christopher M. - 2013

In this paper, we examine the role of global and domestic credit supply shocks in macroeconomic fluctuations for Emerging Markets. For this purpose, we impose a set of zero and sign restrictions within a medium-scale Bayesian Vector Auto-Regressive model. Quarterly data from South Africa and G-7...

Persistent link: https://www.econbiz.de/10009754529

Shocks to bank lending, risk-taking, securitization, and their role for US business cycle fluctuations

Peersman, Gert; Wagner, Wolf - 2014

type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …

Persistent link: https://www.econbiz.de/10010257361

Growth expectations, undue optimism, and short-run fluctuations

Enders, Zeno; Kleemann, Michael; Müller, Gernot J. - 2013

line with theory, induce a negative nowcast error but raise economic activity in the short run. They account for up to 30 …

Persistent link: https://www.econbiz.de/10010224834

The effect of news shocks and monetary policy

Gambetti, Luca; Görtz, Christoph; Korobilis, Dimitris; … - 2019

the pre-1980 period. Measuring expectations of future monetary policy rates conditional on a news shock suggests that the …

Persistent link: https://www.econbiz.de/10011990092

Why does risk matter more in recessions than in expansions?

Andreasen, Martin Møller; Caggiano, Giovanni; … - 2021

-sized uncertainty shock generates a larger contraction in real activity when growth is low (as in recessions) than when growth is high …

Persistent link: https://www.econbiz.de/10012628705

Financial uncertainty and real activity : the good, the bad, and the ugly

Caggiano, Giovanni; Castelnuovo, Efrem; Delrio, Silvia; … - 2020

disruptions are found to double the negative output response to an uncertainty shock. We then employ our model to estimate the … overall economic cost of the COVID-19-induced uncertainty shock under different scenarios. Our results point to the … interventions that keep credit conditions as healthy as they were before the COVID-19 uncertainty shock are found to substantially …

Persistent link: https://www.econbiz.de/10012245103

What drives inventory accumulation? : news on rates of return and marginal costs

Görtz, Christoph; Gunn, Christopher M.; Lubik, Thomas A. - 2019

inventories react strongly and positively to news about future increases in total factor productivity. Theory suggests that the …

Persistent link: https://www.econbiz.de/10012119865

Trade shocks and macroeconomic fluctuations in Africa

Kose, M. Ayhan; Riezman, Raymond Glenn - 1999

exported primary commodities, imported capital goods and intermediate inputs, and a financial shock, modeled as fluctuations in …

Persistent link: https://www.econbiz.de/10009781698

Destination vs. origin-based commodity taxation in large open economies with unemployment

Antoniou, Fabio; Hatzipanayotou, Panos; Tsakiris, Nikos - 2015

We construct a perfectly competitive general equilibrium model of two large and symmetric countries producing tradable commodities and a public consumption good. Destination or origin-based taxes are levied on the consumption of the tradable goods. In both countries, an institutional minimum...

Persistent link: https://www.econbiz.de/10011375684

International spillover effects of sectoral tax differentiation in unionized economies

Holmlund, Bertil; Kolm, Ann-Sofie - 2000

The European Union has recently proposed sectoral tax differentiation as a policy to fight unemployment. The member countries are allowed to reduce the VAT rates on goods and services that are particularly labor intensive and price elastic. The paper provides a theoretical analysis of the...

Persistent link: https://www.econbiz.de/10009781572