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Estimating the Impact of External Shocks on the ECCU : Application to the COVID Shock
Parlak, Vivian; Salinas, Gonzalo; Vargas, Jose - 2022
We measure the impact of frequent exogeneous shocks on small ECCU economies, including changes to global economic activity, tourism flows, oil prices, passport sales, FDI, and natural disasters. Using Canonical-Correlation Analysis (CCA) and dynamic panel regression analysis we find significant...
Persistent link: https://www.econbiz.de/10013306756
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Domestic Amplifiers of External Shocks : Growth Accelerations and Reversals in Emerging Market and Developing Economies
Gruss, Bertrand - 2019
External conditions have been found to influence the tendency of emerging market and developing economies to experience episodes of growth accelerations and reversals. In this paper we study the role of domestic policies and other structural attributes in amplifying or mitigating the effect that...
Persistent link: https://www.econbiz.de/10012866906
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Macroeconomic Effects of Sovereign Restructuring in a Monetary Union : A Model-Based Approach
Forni, Lorenzo - 2014
persistent reductions of output, consumption and investment, that can be large, in particular if the share of public debt held …
Persistent link: https://www.econbiz.de/10013059858
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International Fiscal-Financial Spillovers : The Effect of Fiscal Shocks on Cross-Border Bank Lending
Choi, Sangyup - 2019
This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending towards the 45 recipient countries to exogenous...
Persistent link: https://www.econbiz.de/10012864117
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One Shock, Many Policy Responses
Mano, Rui C. - 2020
Policymakers have relied on a wide range of policy tools to cope with capital flow shocks. And yet, the effects and interaction of these policies remain under debate, as does the motivation for using them. In this paper, quantile local projections are used to estimate the entire distribution of...
Persistent link: https://www.econbiz.de/10012840613
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Imported Food Price Shocks and Socio-Political Instability : Do Fiscal Policy and Remittances Matter?
Meyimdjui, Carine - 2021
Using a panel of 101 low- and middle-income countries with data covering the period 1980-2012, this paper applies various econometric approaches that deal with endogeneity issues to assess the impact of food price shocks on socio-political instability once fiscal policy and remittances have been...
Persistent link: https://www.econbiz.de/10013252035
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Food Price Shocks and Household Consumption in Developing Countries : The Role of Fiscal Policy
Meyimdjui, Carine; Combes, Jean-Louis - 2021
consumption. Based on a panel of 70 low and middle-income countries over the period 1980-2012, the paper finds that import price … shocks negatively and significantly affect household consumption, but this effect appears to be mitigated by discretionary … government consumption, notably through government subsidies and transfers. The results are particularly robust for African …
Persistent link: https://www.econbiz.de/10013243071
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The Covid-19 crisis and consumption : survey evidence from six EU countries
Christelis, Dimitris; Georgarakos, Dimitris; Jappelli, … - 2020
Persistent link: https://www.econbiz.de/10012387714
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The scars of supply shocks
Fornaro, Luca; Wolf, Martin - 2020
Persistent link: https://www.econbiz.de/10012318805
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COVID-19 coronavirus and macroeconomic policy
Fornaro, Luca; Wolf, Martin - 2020
Persistent link: https://www.econbiz.de/10012217402