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Revisiting Covid Scarring in Emerging Markets

Jackson, Chris - 2023

The Covid-19 pandemic is expected to result in large and persistent losses in economic output, known as scarring. These … Covid on output in Emerging Markets so far and its implications for projections of economic scarring. While Covid has had a … the composition of output losses has been qualitatively different from past last shocks. History suggests that the main …

Persistent link: https://www.econbiz.de/10015059169

The Impact of the IMF's COVID-19 Support to Developing and Emerging Economies

Chun, Sumin - 2022

We construct a high-frequency dataset that combines information on all IMF lending and proxies of monthly economic activity during the first two years of the COVID-19 pandemic (2020-21). Using this novel dataset and standard econometric techniques we find a positive and significant marginal...

Persistent link: https://www.econbiz.de/10015059885

Macro-Financial Stability in the COVID-19 Crisis: Some Reflections

Adrian, Tobias - 2022

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/10015059965

Emerging Economy Responses to the Global Financial Crisis of 2007-09

Yehoue, Etienne B. - 2009

This paper draws on a unique data set on the nontraditional systemic liquidity easing measures recently undertaken by many emerging market economies. It offers an empirical analysis of the key determinants affecting the decision to undertake these measures over the period September 2008-March...

Persistent link: https://www.econbiz.de/10012677511

The Sovereign-Bank Nexus in Emerging Markets in the Wake of the COVID-19 Pandemic

Deghi, Andrea - 2022

The COVID-19 pandemic has brought the relationship between sovereigns and banks-the so-called sovereign-bank nexus-in emerging market economies to the fore as bank holdings of domestic sovereign debt have surged. This paper examines the empirical relevance of this nexus to assess how it could...

Persistent link: https://www.econbiz.de/10015060045

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

Are Weak Banks Leading Credit Booms? Evidence from Emerging Europe

Igan, Deniz - 2008

This paper examines the behavior of bank soundness indicators during episodes of brisk loan growth, using bank-level data for central and eastern Europe and controlling for the feedback effect of credit growth on bank soundness. No evidence is found that rapid loan expansion has weakened banks...

Persistent link: https://www.econbiz.de/10012677467

Global Business Cycles

Kose, M. Ayhan - 2008

economies. Using a dynamic factor model, we then decompose macroeconomic fluctuations in key macroeconomic aggregates-output …

Persistent link: https://www.econbiz.de/10012677570

Bank Recycling of Petro Dollars to Emerging Market Economies During the Current Oil Price Boom

Wiegand, Johannes - 2008

High oil prices have once again led to large external surpluses of oil exporting countries, similar to the 1970s and 1980s. This paper analyzes the extent to which (i) oil exporters use bank deposits to invest these surpluses, and (ii) banks are lending on these funds to emerging market...

Persistent link: https://www.econbiz.de/10012677635

Role of Interest Rates in Business Cycle Fluctuations in Emerging Market Countries : The Case of Thailand

Tchakarov, Ivan - 2006

Intro -- Contents -- I. INTRODUCTION -- II. INTEREST RATES AND BUSINESS CYCLES -- III. THE GLOBAL ECONOMY MODEL WITH THE FINANCIAL ACCELERATOR -- IV. THE EFFECTS OF A 1 PERCENT U.S. INTEREST RATE HIKE -- V. A REPEAT OF THE GLOBAL BOND MARKET ROUT OF 1994? -- VI. WHAT ROLE FOR MONETARY POLICY? --...

Persistent link: https://www.econbiz.de/10012691077

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