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Financial crises and liberalization : progress or reversals?
Saka, Orkun; Campos, Nauro; De Grauwe, Paul; Ji, Yuemei; … - 2019
Financial crisis can trigger policy reversals, i.e. they can lead to a process of re- regulation of financial markets. Using a recent comprehensive dataset on financial liberalization across 94 countries for the period between 1973 and 2015, we formally test the validity of this prediction for...
Persistent link: https://www.econbiz.de/10012022690
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Effectives of monetary policy under the high and low economic uncertainty states: evidence from the major Asian economies
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2021
This study examines the monetary policy effectiveness of five major Asian countries (China, Hong Kong, India, Japan, and South Korea) using a quantile vector autoregression (QVAR) model-based spillover estimation approach of Balcilar et al. (2020b) at different quantile paths. To do this, we...
Persistent link: https://www.econbiz.de/10012549189
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How does the economic uncertainty affect asset prices under normal and financial distress times?
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2022
By using a nonlinear VAR model, we investigate whether the response of the US stock and housing markets to uncertainty shocks depends on financial conditions. Our model allows us to change the response of the US financial markets to volatility shocks in periods of normal and financial distress....
Persistent link: https://www.econbiz.de/10013198932
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Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020
This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...
Persistent link: https://www.econbiz.de/10012226632
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Extreme weather events and climate change : economic impacts and adaptation policies
Ferreira, Susana - 2024
This article reviews the literature on the economic impacts of disasters caused by extreme weather and climate events to draw lessons on how societies can better manage these risks. While evidence that richer, better governed societies suffer less and recover faster from climate extremes...
Persistent link: https://www.econbiz.de/10014454717
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The great recession of 2008 - 2009 : causes, consequences and policy responses
Verick, Sher Singh; Islam, Iyanatul - 2010
US to the worst recession the world has witnessed for over six decades. Through an in-depth review of the crisis in terms … suggested, while at the same time the majority of the world’s poor had benefited insufficiently from stronger economic growth …, global imbalances, misperception of risk and lax financial regulation. Thirdly, beyond the aggregate picture of economic …
Persistent link: https://www.econbiz.de/10003962631
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Warrant economics, call-put policy options and the fallacies of economic theory
Hatgioannides, John; Karanassou, Marika - 2011
plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of …
Persistent link: https://www.econbiz.de/10009524338
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Policies in hard times : assessing the impact of financial crises on structural reforms
Gokmen, Gunes; Nannicini, Tommaso; Onorato, … - 2020
It is commonly argued that crises open up a window of opportunity to implement policies that otherwise would not have the necessary political backing. The argument goes that the political cost of deep reforms declines as crises unravel structural problems that need to be urgently rectified and...
Persistent link: https://www.econbiz.de/10012164495
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China's emergence in the world economy and business cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2011
world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …
Persistent link: https://www.econbiz.de/10009311486
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Mental models in financial markets : how do experts reason about the pricing of climate risk?
Bauer, Rob; Gödker, Katrin; Smeets, Paul; Zimmermann, … - 2024
We investigate financial experts' beliefs about climate risk pricing and analyze how those beliefs influence stock …
Persistent link: https://www.econbiz.de/10014535704