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Economic Policy Uncertainty in Turkey
Jirasavetakul, La-Bhus Fah - 2019
policy uncertainty (EPU) index for Turkey and assess how it affects Turkish firms. To disentangle the issues of endogeneity … irreversible investment are more exposed to policy uncertainty. In sectors with large irreversible investment EPU has a greater …
Persistent link: https://www.econbiz.de/10012895106
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The Impact of Uncertainty Shocks on the UK Economy
Denis, Stephanie - 2013
This paper quantifies the economic impact of uncertainty shocks in the UK using data that span the recent Great Recession. We find that uncertainty shocks have a significant impact on economic activity in the UK, depressing industrial production and GDP. The peak impact is felt fairly quickly at...
Persistent link: https://www.econbiz.de/10013084150
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Policy Uncertainty in Japan
Arbatli, Elif C. - 2017
We develop new economic policy uncertainty (EPU) indices for Japan from January 1987 onwards building on the approach … pertaining to the economy, policy matters and uncertainty. Our overall EPU index co-varies positively with implied volatilities … for Japanese equities, exchange rates and interest rates and with a survey-based measure of political uncertainty. The EPU …
Persistent link: https://www.econbiz.de/10012950422
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The Macroeconomics of De-Cashing
Kireyev, Alexei - 2017
The paper presents a simple framework for the analysis of the macroeconomic implications of de-cashing. Defined as replacing paper currency with convertible deposits, de-cashing would affect all key macroeconomic sectors. The overall macreconomic impact of de-cashing would depend on the balance...
Persistent link: https://www.econbiz.de/10012956485
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The Macroeconomic (and Distributional) Effects of Public Investment in Developing Economies
Furceri, Davide - 2017
This paper provides new empirical evidence of the macroeconomic effects of public investment in developing economies. Using public investment forecast errors to identify unanticipated changes in public investment, the paper finds that increased public investment raises output in the short and...
Persistent link: https://www.econbiz.de/10012943953
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The Global Economic Recovery 10 Years after the 2008 Financial Crisis
Mrkaic, Mico - 2019
This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...
Persistent link: https://www.econbiz.de/10012869286
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Commodity Price Shocks and Imperfectly Credible Macroeconomic Policies in Commodity-Exporting Small Open Economies
Medina Guzman, Juan Pablo - 2014
In this paper, we analyze how lack of credibility and transparency of monetary and fiscal policies undermines the effectiveness of macroeconomic policies to isolate the economy from commodity price fluctuations. We develop a general equilibrium model for a commodity-exporting economy where macro...
Persistent link: https://www.econbiz.de/10013057311
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How Inclusive is Abenomics?
Aoyagi, Chie - 2015
We assess the ongoing reform efforts in Japan in terms of inclusive growth. We use prefectural level panel data to regress a measure of inclusive growth, which incorporates both average income growth and income inequality, on macroeconomic and policy variables. Our analysis suggests that...
Persistent link: https://www.econbiz.de/10013024424
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The Economic Impact of Natural Disasters in Pacific Island Countries : Adaptation and Preparedness
Lee, Dongyeol - 2018
Pacific island countries are highly vulnerable to various natural disasters which are destructive, unpredictable and occur frequently. The frequency and scale of these shocks heightens the importance of medium-term economic and fiscal planning to minimize the adverse impact of disasters on...
Persistent link: https://www.econbiz.de/10012913925
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Bank Capital and Uncertainty
Valencia, Fabián - 2010
An important role for bank capital is that of a buffer against unexpected losses. As uncertainty about these losses increases, the theory predicts an increase in the optimal level of bank capital. This paper investigates this implication empirically with U.S. Commercial Banks data and finds...
Persistent link: https://www.econbiz.de/10013138298