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Financial Crises, Investment Slumps, and Slow Recoveries
Cerra, Valerie; Hakamada, Mai; Lama, Ruy - 2022
output and total factor productivity (TFP) in the wake of a crisis. Second, we develop a DSGE model with financial frictions …
Persistent link: https://www.econbiz.de/10013306789
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Great Recession and Fiscal Squeeze at U.S. Subnational Government Level
Jonas, Jiri - 2012
The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the...
Persistent link: https://www.econbiz.de/10013098614
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Productivity Growth and Structural Reform in Bulgaria : Restarting the Convergence Engine
Mitra, Pritha - 2012
Labor productivity levels in Bulgaria lag well behind that in the EU, weighing on the convergence process. Stronger … productivity growth would allow Bulgaria to close the income gap with the EU average more quickly and to alleviate the structural … productivity suggest that for Bulgaria closing the gap with EU standards in the areas of institutional and infrastructure quality …
Persistent link: https://www.econbiz.de/10013102273
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China's Productivity Convergence and Growth Potential-A Stocktaking and Sectoral Approach
Zhu, Min - 2020
that China's productivity convergence remains at an early stage, with the industrial sector more advanced than services … transformation and its impact on economic growth. To fill the gap, this paper takes a deep dive into China's convergence progress in …-tech sectors. Going forward, ample room remains for further convergence, but the shrinking distance to the frontier, the structural …
Persistent link: https://www.econbiz.de/10012843511
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Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis
Chan-Lau, Jorge A. - 2012
This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....
Persistent link: https://www.econbiz.de/10013098630
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Accounting for Macrofinancial Fluctuations and Turbulence
Vitek, Francis - 2018
This paper investigates the sources of macrofinancial fluctuations and turbulence within the framework of an approximate linear dynamic stochastic general equilibrium model of the world economy, augmented with structural shocks exhibiting potentially asymmetric generalized autoregressive...
Persistent link: https://www.econbiz.de/10012906882
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Interconnectedness, Systemic Crises and Recessions
Espinosa-Vega, Marco A. - 2015
This relatively simple model attempts to capture and integrate four widely held views about financial crises. [1] Interconnectedness among financial institutions (banks) can play a major role in precipitating systemic financial crises. [2] Lack of information about the quality of bank portfolios...
Persistent link: https://www.econbiz.de/10013025484
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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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Real Sectoral Spillovers : A Dynamic Factor Analysis of the Great Recession
Li, Nan - 2018
This paper studies changes in the transmission of common versus sectoral idiosyncraticshocks across different U.S. nonfarm business sectors during the Great Recession, andevaluates the cross-sectoral spillovers. Shocks are identified by dynamic factor methods. Wefind that the Great Recession is...
Persistent link: https://www.econbiz.de/10012913944
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Macro-Financial Stability in the COVID-19 Crisis : Some Reflections
Adrian, Tobias; Natalucci, Fabio; Qureshi, Mahvash Saeed - 2023
The global financial system has shown remarkable resilience during the COVID-19 pandemic, despite a sharp decline in economic activity and the initial financial market upheaval in March 2020. This paper takes stock of the factors that contributed to this resilience, focusing on the role of...
Persistent link: https://www.econbiz.de/10014258592