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International crises and policy responses in the Southern cone

Borensztein, Eduardo; Castilleja, Liliana; Hernaiz, Daniel - 2012

This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of international crises: 1994, 1997-1999, 2001 and 2008. In contrast with earlier episodes when most...

Persistent link: https://www.econbiz.de/10011303276

Financial fragility, sovereign default risk and the limits to commercial bank bail-outs

Wijnbergen, Sweder van; Kwaak, Christiaan van der - 2013

through the existence of a maximum sustainable level of debt, derived from the maximum level of taxation that is politically …

Persistent link: https://www.econbiz.de/10010224776

Financial fragility and the fiscal multiplier

Wijnbergen, Sweder van; Kwaak, Christiaan van der - 2014

We investigate the effectiveness of "Keynesian" fiscal stimuli when government deficits and debt rollovers are (possibly partially) financed by balance sheet constrained financial intermediaries. Because financial intermediaries operate under a leverage constraint, deficit financing of fiscal...

Persistent link: https://www.econbiz.de/10010226967

A framework for assessing policy space in ASEAN+3 economies and the combat against COVID-19 pandemic

Chaipat Poonpatpibul; Hong, Seung Hyun; Choi, Jinho; … - 2020

Persistent link: https://www.econbiz.de/10012819595

Seigniorage and sovereign default : the response of emerging markets to COVID-19

Espino, Emilio; Kozlowski, Julian; Martin, Fernando M.; … - 2020

Persistent link: https://www.econbiz.de/10012306883

Global growth on life support? : the contributions of fiscal and monetary policy since the global financial crisis

Baumann, Ursel; Lodge, David; Miescu, Mirela S. - 2019

with a hierarchical structure we capture the variability of GDP response to policy shocks both between and within the … more homogeneous effects on GDP. We then quantify the policy contribution on GDP growth in the last decade by means of a … structural counterfactual analysis based on conditional forecasts. We find that global GDP growth benefited from substantial …

Persistent link: https://www.econbiz.de/10011987115

Optimal fiscal policy and sovereign debt crises

Niemann, Stefan; Pichler, Paul - 2017

Persistent link: https://www.econbiz.de/10011763302

Managing the sovereign-bank nexus

Dell'Ariccia, Giovanni; Ferreira, Caio; Jenkinson, Nigel; … - 2018

This paper identifies the various channels that give rise to a "sovereign-bank nexus" whereby the financial health of banks and sovereigns is intertwined. We find that banks and sovereigns are linked by three interacting channels: banks hold large amounts of sovereign debt; banks are protected...

Persistent link: https://www.econbiz.de/10011901498

Policy rules and large crises in emerging markets

Espino, Emilio; Kozlowski, Julian; Martin, Fernando M.; … - 2022

Persistent link: https://www.econbiz.de/10013367808

The state of the Indian economy 2009-10

Joseph C., Mathew (contributor) - 2009

Despite signs of recovery from the global financial crisis, the GDP growth rate for the Indian economy is likely to be …

Persistent link: https://www.econbiz.de/10003899434