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Taming Financial Development to Reduce Crises
Ben Naceur, Sami - 2019
This paper assesses whether and how financial development triggers the occurrence of banking crises. It builds on a database that includes financial development as well as financial access, depth and efficiency for almost 100 countries. Through estimation of a dynamic logit panel model, it...
Persistent link: https://www.econbiz.de/10012868462
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Systemic Banking Crises Database : An Update
Laeven, Luc - 2012
We update the widely used banking crises database by Laeven and Valencia (2008, 2010) with new information on recent and ongoing crises, including updated information on policy responses and outcomes (i.e. fiscal costs, output losses, and increases in public debt). We also update our dating of...
Persistent link: https://www.econbiz.de/10013098639
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Systemic Banking Crises Revisited
Laeven, Luc - 2018
151 systemic banking crises episodes around the globe during 1970-2017, the database includes information on crisis dates …
Persistent link: https://www.econbiz.de/10012909413
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Rating the Rating Agencies : Anticipating Currency Crises or Debt Crises?
Sy, Amadou - 2021
In contrast to the early-warning system literature, we find that currency and debt crises are not closely linked in emerging markets. We find that after 1994, credit ratings predict debt crises but fail to anticipate currency crises. When debt crises are defined as sovereign distress-when...
Persistent link: https://www.econbiz.de/10013212322
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Accounting for Macrofinancial Fluctuations and Turbulence
Vitek, Francis - 2018
approximate linear dynamic stochastic general equilibrium model of the world economy, augmented with structural shocks exhibiting … national economies in the world …
Persistent link: https://www.econbiz.de/10012906882
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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 … productivity shortfalls relative to precrisis trends. Policy choices preceding the crisis and in its immediate aftermath influenced …
Persistent link: https://www.econbiz.de/10012869286
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Granger Predictability of Oil Prices after the Great Recession
Benk, Szilard - 2019
Real oil prices surged from 2009 through 2014, comparable to the 1970's oil shock period. Standard explanations based on monopoly markup fall short since inflation remained low after 2009. This paper contributes strong evidence of Granger (1969) predictability of nominal factors to oil prices,...
Persistent link: https://www.econbiz.de/10012858386
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After the Fall : Lessons for Policy Cooperation from the Global Crisis
Bayoumi, Tamim - 2014
A crisis is a terrible thing to waste, and nowhere is this truer than in the arena of international economic policy … cooperation. With the world facing the largest and most synchronized plunge in output of the postwar era, policy makers banded … cooperation since the crisis. Outcomes seem to be weaker over time in areas such as macroeconomic policies, where institutional …
Persistent link: https://www.econbiz.de/10013050664
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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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Sovereign Debt Repatriation During Crises
Arslanalp, Serkan; Sunder-Plassmann, Laura - 2022
We use a new, comprehensive data set on the sovereign debt investor base to document three novel empirical facts: (i) sovereign debt is repatriated - that is, shifted from external private to domestic investors - prior to sovereign defaults; (ii) not all crises are equal: evidence for...
Persistent link: https://www.econbiz.de/10013288911