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Did Output Recover from the Asian Crisis?
Cerra, Valerie; Saxena, Sweta C. - 2005
This paper investigates the extent to which output has recovered from the Asian crisis. A regime-switching approach that introduces two state variables is used to decompose recessions in a set of six Asian countries into permanent and transitory components. While growth recovered fairly quickly...
Persistent link: https://www.econbiz.de/10014073466
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Financial Market Contagion in the Asian Crisis
Goldfajn, Ilan - 2021
This paper tests for evidence of contagion between the financial markets of Thailand, Malaysia, Indonesia, Korea, and … the Philippines. Cross-country correlations among currencies and sovereign spreads are found to increase significantly …
Persistent link: https://www.econbiz.de/10013212114
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The Big Split : Why Did Output Trajectories in the ASEAN-4 Diverge after the Global Financial Crisis?
Isnawangsih, Agnes - 2013
, however, was not uniform. Even in a relatively homogenous group of countries such as ASEAN-4 (Indonesia, Malaysia, the … 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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The Growth and Stabilization Properties of Fiscal Policy in Malaysia
Rafiq, Sohrab - 2013
This paper examines the size of the fiscal multiplier values generated in Malaysia. The results show that a government …
Persistent link: https://www.econbiz.de/10013079260
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Fiscal Spillovers in the Euro Area : Letting the Data Speak
Dabla-Norris, Era - 2018
We estimate a panel VAR model that captures cross-country, dynamic interlinkages for 10 euro area countries using quarterly data for the period 1999-2016. Our analysis suggests that fiscal spillovers are significant and tend to be larger for countries with close trade and financial links as...
Persistent link: https://www.econbiz.de/10012928609
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Fiscal Multipliers in Bulgaria : Low But Still Relevant
Muir, Dirk - 2013
With fiscal adjustment proceeding quickly in Bulgaria and given the weak economic growth environment, there is keen interest in making the budget composition more growth friendly. This paper quantifies the short-term impact of fiscal policy on economic activity in Bulgaria using econometric and...
Persistent link: https://www.econbiz.de/10013085612
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Growth Forecast Errors and Fiscal Multipliers
Blanchard, Olivier J. - 2013
This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong,...
Persistent link: https://www.econbiz.de/10013085993
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Trade and Financial Spillover on Hong Kong SAR from a Downturn in Europe and Mainland China
N'Diaye, Papa - 2012
Hong Kong SAR was hit hard by the global financial crisis, which started out in the U.S. and spilled over to the rest of the world. Three years later, vulnerabilities in the euro area's financial system and concerns over a hard landing in Mainland China have started to weigh on Hong Kong's...
Persistent link: https://www.econbiz.de/10013106745
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Inward and Outward Spillovers in the SACU Area
Canales-Kriljenko, Jorge Iván - 2013
Spillovers from South Africa into the other members of the Souther Africa Customs Union (known as the BLNS for Botstwana, Lesotho, Namibia, and Swaziland) are substantial reflecting sizeable real and financial interlinkages. However, shocks to real GDP growth in South Africa do not seem to...
Persistent link: https://www.econbiz.de/10013086315
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Sovereigns and Financial Intermediaries Spillovers
Tabarraei, Hamid - 2019
We examine the spillover effects between sovereigns and banks in a model with a heterogeneous banking system. An increase in sovereign's default risk affects financial intermediaries through two channels in this model. First, banks' funding costs might increase, inducing higher interest rates on...
Persistent link: https://www.econbiz.de/10012889148