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The Big Split : Why Did Output Trajectories in the ASEAN-4 Diverge after the Global Financial Crisis?
Isnawangsih, Agnes - 2013
Philippines and Thailand), there were considerable differences both in terms of instantaneous impact of the crisis and in terms of … impact on more open economies (Malaysia and Thailand). Second, countercyclical fiscal stimulus in Indonesia and the … Philippines was larger and was sustained longer. Third, idiosyncratic factors pushed output up in Indonesia and down in Thailand …
Persistent link: https://www.econbiz.de/10013072592
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Quality and the Great Trade Collapse
Chen, Natalie - 2016
We explore whether the global financial crisis has had heterogeneous effects on traded goods differentiated by quality. Combining a dataset of Argentinean firm-level destination-specific wine exports with quality ratings, we show that higher quality exports grew faster before the crisis, but...
Persistent link: https://www.econbiz.de/10012996075
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Policy Analysis and Forecasting in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach
Vitek, Francis - 2014
This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate linear panel dynamic stochastic general equilibrium model featuring a monetary transmission...
Persistent link: https://www.econbiz.de/10013060545
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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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Quasi-Fiscal Implications of Central Bank Crisis Interventions
Hooley, John; Khan, Ashraf; Lattie, Claney; Mak, Istvan; … - 2023
We develop a stylized balance sheet framework to help identify ‘quasi-fiscal’ components of central bank crisis interventions and show how sources of fiscal risk are created from both the new claims and how they are funded. Combining central bank balance sheet data with survey evidence from...
Persistent link: https://www.econbiz.de/10014354111
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Investment in Brazil : From Crisis to Recovery
Krznar, Ivo - 2018
While Brazil's deep recession has been broad based, it has been marked by a particularlylarge fall in investment. Real investment fell by around 30 percent between the beginningof 2014 and the beginning of 2017. This paper finds that a variety of factors contributed tothe investment decline,...
Persistent link: https://www.econbiz.de/10012928618
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Dampening Global Financial Shocks : Can Macroprudential Regulation Help (More than Capital Controls)?
Bergant, Katharina - 2020
We show that macroprudential regulation can considerably dampen the impact of globalfinancial shocks on emerging markets. More specifically, a tighter level of regulation reducesthe sensitivity of GDP growth to VIX movements and capital flow shocks. A broad set ofmacroprudential tools contribute...
Persistent link: https://www.econbiz.de/10012828057
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The Distributional Impact of Recessions : The Global Financial Crisis and the Pandemic Recession
Shibata, Ippei - 2020
Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...
Persistent link: https://www.econbiz.de/10012828220
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Macroprudential Policies, Economic Growth, and Banking Crises
Belkhir, Mohamed - 2020
Using a sample that covers more than 100 countries over the 2000-2017 period, we assess the impact of macroprudential policies on financial stability. In particular, we examine whether the activation of macroprudential policies is conducive to a lower incidence of systemic banking crises. Our...
Persistent link: https://www.econbiz.de/10012831600
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The Micro Impact of Macroprudential Policies : Firm-Level Evidence
Ayyagari, Meghana - 2019
Combining balance sheet data on 900,000 firms from 48 countries with information on the adoption of macroprudential policies during 2003-2011, we find that these policies are associated with lower credit growth. These effects are especially significant for micro, small and medium enterprises...
Persistent link: https://www.econbiz.de/10012895116