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Financial Shocks and TFP Growth
Severo, Tiago - 2010
The paper investigates how changes in industries' funding costs affect total factor productivity (TFP) growth. Based on panel regressions using 31 U.S. and Canadian industries between 1991 and 2007, and using industries' dependence on external funding as an identification mechanism, we show that...
Persistent link: https://www.econbiz.de/10012677536
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Eye of the Storm: The Impact of Climate Shocks on Inflation and Growth
Cevik, Serhan - 2023
space when the shock hits …
Persistent link: https://www.econbiz.de/10015059496
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Estimating Macro-Fiscal Effects of Climate Shocks From Billions of Geospatial Weather Observations
Akyapi, Berkay - 2022
A growing literature estimates the macroeconomic effect of weather using variations in annual country-level averages of temperature and precipitation. However, averages may not reveal the effects of extreme events that occur at a higher time frequency or higher spatial resolution. To address...
Persistent link: https://www.econbiz.de/10015060207
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The Effects of Economic Shocks on Heterogeneous Inflation Expectations
Chang, Yoosoon - 2022
In this paper, we examine how economic shocks affect the distribution of household inflation expectations. We show that the dynamics of households' expected inflation distributions are driven by three distinctive functional shocks, which influence the expected inflation distribution through...
Persistent link: https://www.econbiz.de/10015060289
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External Shocks and Business Cycle Fluctuations in Mexico : How Important are U.S. Factors?
Sosa, Sebastian - 2008
This paper examines the relative importance of external shocks as sources of business cycle fluctuations in Mexico, and identifies the dynamic responses of domestic output to foreign disturbances. Using a VAR model with block exogeneity restrictions, it finds that U.S. shocks explain a large...
Persistent link: https://www.econbiz.de/10014409022
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An Anatomy of Credit Booms
Terrones, Marco - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10012677365
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An Anatomy of Credit Booms : Evidence From Macro Aggregates and Micro Data
Terrones, Marco - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10014409056
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U.S. Monetary Policy Spillovers to Middle East and Central Asia: Shocks, Fundamentals, and Propagations
Ugazio, Giovanni - 2024
decomposing U.S. interest rates changes into two orthogonal shocks: the pure monetary policy shock and the information news shock … countries, with oil exporters with stronger fundamentals withstanding well the shock and oil importers with weaker fundamentals …
Persistent link: https://www.econbiz.de/10015058845
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Public debt dynamics : the effects of austerity, inflation, and growth shocks
Cherif, Reda; Hasanov, Fuad - 2012
austerity shock, the debt ratio initially declines and then returns to its pre-shock path. Yet, the effect is not statistically … significant. In a weak economic environment, the likelihood of a self-defeating austerity shock is much higher than in normal … times. An inflation shock only slightly reduces the debt ratio for a few quarters. A positive growth shock unambiguously …
Persistent link: https://www.econbiz.de/10009622446
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Innocent bystanders? : monetary policy and inequality in the U.S.
Coibion, Olivier; Gorodnichenko, Yuriy; Küng, Lorenz; … - 2012
We study the effects and historical contribution of monetary policy shocks to consumption and income inequality in the United States since 1980. Contractionary monetary policy actions systematically increase inequality in labor earnings, total income, consumption and total expenditures....
Persistent link: https://www.econbiz.de/10009621686