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Persistent link: https://www.econbiz.de/10003855144
Following four years of relative stability at around $105 per barrel, oil prices have declined sharply since June 2014. This paper presents a comprehensive analysis of the sources of the recent decline in prices, and examines its macroeconomic, financial and policy implications. The recent drop...
Persistent link: https://www.econbiz.de/10010512500
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-based disinflation around the world over the past half-century, with global consumer price inflation down from a peak of roughly 17 …
Persistent link: https://www.econbiz.de/10012584053
We analyze the evolution and drivers of inflation during the pandemic and the likely trajectory of inflation in the near-term using an event study of inflation around global recessions and a factor-augmented vector auto-regression (FAVAR) model. We report three main results. First, the decline...
Persistent link: https://www.econbiz.de/10012584054
stagflation of the 1970s required steep increases in interest rates by major advanced-economy central banks to quell inflation …
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market and developing economy (EMDE) central banks and some advanced-economy central banks to increase interest rates …
Persistent link: https://www.econbiz.de/10013174851
This paper presents a comprehensive cross-country database of fiscal space, broadly defined as the availability of budgetary resources for a government to service its financial obligations. The database covers up to 200 countries over the period 1990-2016, and includes 28 indicators of fiscal...
Persistent link: https://www.econbiz.de/10011696384
The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 …, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off by …
Persistent link: https://www.econbiz.de/10012159612