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Transmission of global financial shocks to EMU member states : the role of monetary policy and national factors
Gelman, Maria; Jochem, Axel; Reitz, Stefan - 2016
mechanism. However, an appropriate policy mix of sound public finances, solid financial regulation and targeted macroprudential …
Persistent link: https://www.econbiz.de/10011495568
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Riding Global Financial Waves : The Economic Impact of Global Financial Shocks on Emerging Market Economies
Adler, Gustavo - 2012
integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an …
Persistent link: https://www.econbiz.de/10013098620
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The Global Financial Crisis : An Anatomy of Global Growth
Matheson, Troy - 2013
The global financial crisis was a stark reminder of the importance of cross-country linkages in the global economy. We document growth synchronization across a diverse group of 185 countries covering 7 regions, and pay particular attention to the period around the global financial crisis. A...
Persistent link: https://www.econbiz.de/10013082486
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Safe Havens, Feedback Loops, and Shock Propagation in Global Asset Prices
Ohnsorge, Franziska - 2014
We create a network of bilateral correlations of changes in sovereign bond yields and individual bank equity price changes since 2000. We extract some stylized facts from this network of asset price correlations and document the clear differences in asset price correlations between safe havens...
Persistent link: https://www.econbiz.de/10013053036
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Global Financial Shocks and Foreign Asset Repatriation : Do Local Investors Play a Stabilizing Role?
Adler, Gustavo - 2014
We study the dynamic response of gross capital flows in emerging market economies to different global financial shocks, using a panel vector-autoregressive (PVAR) setting. Our focus lies primarily on the potentially stabilizing role played by domestic investors in offsetting the response of...
Persistent link: https://www.econbiz.de/10013053960
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Dampening Global Financial Shocks : Can Macroprudential Regulation Help (More than Capital Controls)?
Bergant, Katharina - 2020
We show that macroprudential regulation can considerably dampen the impact of globalfinancial shocks on emerging … markets. More specifically, a tighter level of regulation reducesthe sensitivity of GDP growth to VIX movements and capital … andliquidity, foreign currency mismatches, and risky forms of credit. We also find that tightermacroprudential regulation allows …
Persistent link: https://www.econbiz.de/10012828057
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The global financial cycle and macroeconomic tail risks
Beutel, Johannes; Emter, Lorenz; Metiu, Norbert; … - 2022
the world. By tightening financial conditions globally, these shocks affect the left tail of the conditional output growth …
Persistent link: https://www.econbiz.de/10013459721
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Bank capital, the state contingency of banks’ assets and its role for the transmission of shocks
Kühl, Michael - 2014
The role of bank capital as a propagation channel of shocks is strongly pronounced in recent macroeconomic models. In this paper, we show how the evolution of bank capital depends on the share of non-state-contingent assets in banks’ balance sheets and present the consequences for...
Persistent link: https://www.econbiz.de/10010415785
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Financial frictions and global spillovers
Metiu, Norbert; Hilberg, Björn; Grill, Michael - 2015
We investigate whether frictions in US financial markets amplify the international propagation of US financial shocks. The dynamics of the US economy is modeled jointly with global macroeconomic and financial variables using a threshold vector autoregression that allows us to capture...
Persistent link: https://www.econbiz.de/10010493885
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Fundamentals matter : idiosyncratic shocks and interbank relations
Bednarek, Peter; Dinger, Valeriya; Westernhagen, Natalja von - 2015
Our results uncover a so far undocumented ability of the interbank market to distinguish between banks of different quality in times of aggregate distress. We show empirical evidence that during the 2007 financial crisis the inability of some banks to roll over their interbank debt was not due...
Persistent link: https://www.econbiz.de/10011414244