enormous and rising public debt burdens of reserve currency economies, this means that the long-term risk on emerging markets … for global liquidity insurance that would meet emerging markets' demand for insurance with fewer domestic policy … dependent on foreign finance and more resilient to capital flow volatility. The main risk that increasing financial openness …

shocks depends on financial conditions. Our model allows us to change the response of the US financial markets to volatility …By using a nonlinear VAR model, we investigate whether the response of the US stock and housing markets to uncertainty … shocks in periods of normal and financial distress. We find strong evidence that uncertainty shocks have adverse effects on …

We examine the Exchange Rate Volatility (ERV) response to the Economic Policy Uncertainty (EPU) shocks from a panel VAR … postulate that (a) both home and foreign EPU shocks are highly significant in explaining the ERV, (b) the contribution of the … the US-EPU to the economic activity, (d) the home EPU increases with higher US-EPU and vice versa and (e) the latter is …

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … different realizations of firm specific technology shocks, possible leading to default by some firms. The paper advances a new … modelling approach for the analysis of financial intermediation and firm defaults that takes account of the financial …

periods of high economic uncertainty. Furthermore, this approach also allows us to uncover asymmetric effects of economic … policy uncertainty and lending rate on macroeconomic indicators. The impacts of interest rate and domestic and foreign (US …, EU) uncertainty shocks on major Asian markets present significant asymmetric characteristics. Moreover, our time …