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Displacement and debt : the role of debt in returning to work in the period following the Great Recession
Bednarzik, Robert W.; Kern, Andreas; Hisnanick, John J. - 2017
The onset of the housing and subsequent financial crisis in 2008 marked the steepest economic downturn in the United. States, since the Great Depression in the late 1920s and 1930s. This most recent financial crisis has been characterized by massive layoffs and displacement. Given the depth of...
Persistent link: https://www.econbiz.de/10011647674
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The role of demographics in precipitating crises in financial institutions
Macunovich, Diane J. - 2009
There are significant effects of changing demographics on economic indicators: growth in GDP especially, but also the current account balance and gross capital formation. The 15-24 age group appears to be one of the key age groups in these effects, with increases in that age group exerting...
Persistent link: https://www.econbiz.de/10003900319
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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 …
Persistent link: https://www.econbiz.de/10003962631
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Financial sector regulation and reforms in emerging markets : an overview
Prasad, Eswar S. - 2010
This paper provides an overview of the complex conceptual and practical challenges that emerging market economies face as they attempt to reform their frameworks for financial regulation. These economies are striving to balance the quest for financial stability with the imperatives of financial...
Persistent link: https://www.econbiz.de/10009153059
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Financial development, environmental quality, trade and economic growth : what causes what in MENA countries
Omri, Anis; Daly, Saida; Rault, Christophe; Chaibi, Anissa - 2015
This paper examines the relationship between financial development, CO2 emissions, trade and economic growth using simultaneous-equation panel data models for a panel of 12 MENA countries over the period 1990-2011. Our results indicate that there is evidence of bidirectional causality between...
Persistent link: https://www.econbiz.de/10010488272
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Financial markets, banks' cost of funding, and firms' decisions : lessons from two crises
Balduzzi, Pierluigi; Brancati, Emanuele; Schiantarelli, … - 2013
exploit two shocks to Italian bank CDS spreads and equity valuations: the 2007-2009 financial crisis and the 2010 …-2012 sovereign debt crisis. Using newly available data linking over 3,000, mostly privately-held, non-financial firms to their bank …
Persistent link: https://www.econbiz.de/10010229932
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The labor market consequences of adverse financial shocks
Boeri, Tito; Garibaldi, Pietro; Moen, Espen R. - 2012
The recent financial crises, alongside a dramatic rise in unemployment on both sides of the Atlantic, suggest that financial shocks do translate into the labor markets. In this paper we first document that financial recessions amplify labor market volatility and Okun's elasticity over the...
Persistent link: https://www.econbiz.de/10009613676
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Legal corruption, politically connected corporate governance and firm performance
Domadenik, Polona; Prašnikar, Janez; Švejnar, Jan - 2014
In this paper we present and test a theory of how political corruption, found in many transition and emerging market economies, affects corporate governance and productive efficiency of firms. Our model predicts that underdeveloped democratic institutions that do not punish political corruption...
Persistent link: https://www.econbiz.de/10010381906
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Fiscal policy, sovereign default, and bailouts
Jüßen, Falko; Schabert, Andreas - 2013
This paper examines fiscal policy without commitment and the effects of conditional bailout loans. The government relies on distortionary taxation and decides between full debt repayment and costly default. It tends to overborrow due to myopia, which induces default to be a relevant policy...
Persistent link: https://www.econbiz.de/10010225902
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The costs of favoritism : is politically-driven aid less effective?
Dreher, Axel; Klasen, Stephan; Vreeland, James Raymond; … - 2010
World Bank projects and generally find that projects that are potentially politically motivated – such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … vulnerable in the first place. -- World Bank ; aid effectiveness ; political influence ; United Nations Security Council …
Persistent link: https://www.econbiz.de/10003942325