Showing 1 - 10 of 99
-led growth and face growing risks from a deceleration in investment in China. This note quantifies potential global spillovers …
Persistent link: https://www.econbiz.de/10013096278
estate investment in China ”though a low-probability event” would be sizable, with large spillovers to a number of China …
Persistent link: https://www.econbiz.de/10013097279
This paper quantifies financial spillovers from global risk factors to banks' funding costs in Chile. It decomposes … Chilean banks' bond and interbank spreads into domestic and external factors. The results suggest moderate spillovers. On … average, global spillovers pushed up bank bond and interbank spreads in Chile by about 50 basis points in 2008-12. While in …
Persistent link: https://www.econbiz.de/10013098274
Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping...
Persistent link: https://www.econbiz.de/10013098620
over the last two decades. PICs have become more exposed to the region's business cycles, and spillovers from regional …, we use a Vector Error Correction Model (VECM) for each PIC to gauge the impact of global and regional growth spillovers … even larger than from a negative global demand shock. We also assess the spillovers to the financial sector from the …
Persistent link: https://www.econbiz.de/10013102205
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model features a monetary transmission mechanism, a fiscal transmission mechanism, and extensive macrofinancial linkages, both within...
Persistent link: https://www.econbiz.de/10013102206
This paper estimates the impact of China's exchange rate changes on exports of competitor countries in third markets, which we call the "spillover effect". We use recent theory to develop an identification strategy in which competition between China and its developing country competitors in...
Persistent link: https://www.econbiz.de/10013106742
trade and financial spillovers on Hong Kong SAR's economy from a downturn in the euro area and Mainland China. Based on …
Persistent link: https://www.econbiz.de/10013106745
This paper assesses the vulnerability of emerging markets and their banks to aggregate shocks. We find significant links between banks' asset quality, credit and macroeconomic aggregates. Lower economic growth, an exchange rate depreciation, weaker terms of trade and a fall in debt-creating...
Persistent link: https://www.econbiz.de/10013108615
This paper uses a novel variant of identification through hetroscedacity to estimate spillovers across U.S., Euro area … reverberate around the world much more strongly than shocks from other regions, including the Euro area, while inward spillovers … to the U.S. from elsewhere are minimal. There is also evidence of two-way spillovers between the UK and Euro area …
Persistent link: https://www.econbiz.de/10013084151