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Institutionalizing Countercyclical Investment : A Framework for Long-Term Asset Owners

Jones, Bradley - 2016

Do portfolio shifts by the world's largest asset owners respond procyclically to past returns, or countercyclically to valuations? And if countercyclical investment (with both market-stabilizing and return-generating properties) is a public and private good, how might asset owners be empowered...

Persistent link: https://www.econbiz.de/10012996063

Macroeconomic Stability in Resource-Rich Countries : The Role of Fiscal Policy

Bova, Elva - 2016

Resource-rich countries face large and persistent shocks, especially coming from volatile commodity prices. Given the severity of the shocks, it would be expected that these countries adopt countercyclical fiscal policies to help shield the domestic economy. Taking advantage of a new dataset...

Persistent link: https://www.econbiz.de/10012996065

The Sooner (and the Smarter), the Better : COVID-19 Containment Measures and Fiscal Responses

Hosny, Amr - 2021

This paper finds empirical evidence that faster and smarter containment measures were associated with lower fiscal responses to the COVID-19 shock. We also find that initial conditions, such as fiscal space, income, health preparedness and budget transparency were important in shaping the amount...

Persistent link: https://www.econbiz.de/10013226437

Handle with Care : Regulatory Easing in Times of COVID-19

Valencia, Fabian; Varghese, Richard; Yao, Weija; … - 2021

The policy response to the COVID-19 shock included regulatory easing across many jurisdictions to facilitate the flow of credit to the economy and mitigate a further ampli-fication of the shock through tighter financial conditions. Using an intraday event study,this paper examines how stock...

Persistent link: https://www.econbiz.de/10013226445

Why are the G-20 Data Gaps Initiative and the SDDS Plus Relevant for Financial Stability Analysis?

Heath, Robert - 2013

In the wake of the recent global crisis the international community is giving an increased focus on stability of the financial system, so-called financial stability analysis. With the increasing need for data sets to undertake this analysis, the question naturally arises as to what types of data...

Persistent link: https://www.econbiz.de/10013085974

Is Credit Easing Viable in Emerging and Developing Economies? An Empirical Approach

Jacome H., Luis I. - 2018

inflation, and a substantial reduction in economic growth in a large panel of emerging and developing economies. For advanced …

Persistent link: https://www.econbiz.de/10012922631

G-20 Data Gaps Initiative II : Meeting the Policy Challenge

Heath, Robert - 2016

The G-20 Data Gaps Initiative (DGI), which aimed at addressing the information needs that were revealed by the 2007/2008 global financial crisis, concluded its first phase and started a second phase (DGI-2) with the endorsement of G-20 Finance Ministers and Central Bank Governors in September...

Persistent link: https://www.econbiz.de/10012996036

Monetary Policy Transmission and Financial Stability in a LIC : The Case of Bangladesh

Rafiq, Sohrab - 2016

large low income country. This paper shows that monetary policy modestly impacts real economic activity and inflation via … if the calibration of monetary policy is based solely on output and inflation without accounting for the stage of the …

Persistent link: https://www.econbiz.de/10013002148

The Sources of Business Cycles in a Low Income Country

Houssa, Romain - 2015

We examine the role of global and domestic shocks in driving macroeconomic fluctuations for Ghana. We are able to study the impact of exogenous shocks including productivity, credit supply, and commodity price shocks. We identify the shocks with a combination of sign and recursive restrictions...

Persistent link: https://www.econbiz.de/10013025500

Exchange Rate Bands and Shifts in the Stabilization Policy Regime : Issues Suggested by the Experience of Colombia

Carrasquilla Barrera, Alberto - 2006

bands were part of an ongoing effort to reduce high inflation. This paper argues that the change in regime was motivated by … a change in policy objectives. Starting from a policy whose rationale implied targeting stable inflation, a simple … analytical model of optimal policy is presented; initial results with the new regime suggest that inflation is now considered …

Persistent link: https://www.econbiz.de/10012781913