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The Impact of Terrorism on Financial Markets
Johnston, R. Barry - 2021
The terrorist attacks that have occurred in the past few years around the world have raised international awareness of … the danger of terrorism and its complex repercussions on the financial markets. This paper explores the ways in which … strengthened so as to further enhance the resilience of financial markets to terrorism …
Persistent link: https://www.econbiz.de/10013318063
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Fiscal Consequences of Terrorism
Cevik, Serhan - 2016
This paper provides an empirical analysis of how the frequency and severity of terrorism affectgovernment revenue and … expenditure during the period 1970-2013 using a panel dataset on153 countries. We find that terrorism has only a marginal negative … alternative specifications and empirical strategies. On the other hand, we find strongevidence that terrorism is associated with …
Persistent link: https://www.econbiz.de/10013002155
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What Caused the Global Financial Crisis? Evidence on the Drivers of Financial Imbalances 1999-2007
Nier, Erlend W. - 2011
This paper investigates empirically the drivers of financial imbalances ahead of the global financial crisis. Three factors may have contributed to the build-up of financial imbalances: (i) rising global imbalances (capital flows), (ii) monetary policy that might have been too loose, (iii)...
Persistent link: https://www.econbiz.de/10013131803
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Foreign Banks : Trends, Impact and Financial Stability
Claessens, Stijn - 2012
This paper introduces a comprehensive database on bank ownership for 137 countries over 1995-2009, and reviews foreign bank behavior and impact. It documents substantial increases in foreign bank presence, with many more home and host countries. Current market shares of foreign banks average 20...
Persistent link: https://www.econbiz.de/10013116464
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Bank Behavior in Response to Basel III : A Cross-Country Analysis
Cosimano, Thomas F. - 2011
This paper investigates the impact of the new capital requirements introduced under the Basel III framework on bank lending rates and loan growth. Higher capital requirements, by raising banks' marginal cost of funding, lead to higher lending rates. The data presented in the paper suggest that...
Persistent link: https://www.econbiz.de/10013124072
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Fiscal Rules at a Glance : Country Details from a New Dataset
Budina, Nina T. - 2012
This paper provides country-specific information on fiscal rules in use in 81 countries from 1985 to end-September 2012. It serves as background material and update of the July 2012 Working Paper Fiscal Rules in Response to the Crisis-Toward the 'Next Generation' Rules: A New Dataset and is also...
Persistent link: https://www.econbiz.de/10013096272
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Tracking Global Demand for Advanced Economy Sovereign Debt
Arslanalp, Serkan - 2012
Recent events have shown that sovereigns, just like banks, can be subject to runs, highlighting the importance of the investor base for their liabilities. This paper proposes a methodology for compiling internationally comparable estimates of investor holdings of sovereign debt. Based on this...
Persistent link: https://www.econbiz.de/10013096716
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Tax Composition and Growth : A Broad Cross-Country Perspective
Acosta Ormaechea, Santiago LE - 2012
We investigate the relation between changes in tax composition and long-run economic growth using a new dataset covering a broad cross-section of countries with different income levels. We specifically consider 69 countries with at least 20 years of observations on total tax revenue during the...
Persistent link: https://www.econbiz.de/10013097287
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The Differential Effects of Oil Demand and Supply Shocks on the Global Economy
Cashin, Paul Anthony - 2012
We employ a set of sign restrictions on the generalized impulse responses of a Global VAR-model, estimated for 38 countries/regions over the period 1979-2011Q2, to discriminate - between supply-driven and demand-driven oil-price shocks and to study the time profile of their macroeconomic effects...
Persistent link: https://www.econbiz.de/10013098275
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Workers' Remittances : An Overlooked Channel of International Business Cycle Transmission?
Barajas, Adolfo - 2012
-recipient countries and the rest of the world. Using both aggregate and bilateral remittances data in a panel data setting, the study …
Persistent link: https://www.econbiz.de/10013098276