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Emerging market business cycles : the role of labor market frictions

Boz, Emine; Durdu, Ceyhun Bora; Li, Nan - 2012

Emerging economies are characterized by higher consumption and real wage variability relative to output and a strongly countercyclical current account. A real business cycle model of a small open economy that embeds a Mortensen-Pissarides type of search-matching frictions and countercyclical...

Persistent link: https://www.econbiz.de/10009659836

Monetization in low- and middle-income countries

McLoughlin, Cameron; Kinoshita, Noriaki - 2012

The degree of an economy's monetization, which has an important implication on economic growth, can be affected by the conduct of monetary policy, financial sector reform, and episodes of financial crises. The paper finds that monetization--measured by the ratio of broad money to nominal GDP--...

Persistent link: https://www.econbiz.de/10009618525

Riding global financial waves : the economic impact of global financial shocks on emerging market economies

Adler, Gustavo; Tovar, Camilo Ernesto - 2012

Over the past two decades, most emerging market economies witnessed two key developments. A marked process of financial integration with the rest of the world, arguably turning these economies more vulnerable to global financial shocks; and an improvement of macroeconomic fundamentals, helping...

Persistent link: https://www.econbiz.de/10009620968

Emerging market sovereign bond spreads : estimation and back-testing

Comelli, Fabio - 2012

We estimate sovereign bond spreads of 28 emerging economies over the period January 1998-December 2011 and test the ability of the model in generating accurate in-sample predictions for emerging economies bond spreads. The impact and significance of country-specific and global explanatory...

Persistent link: https://www.econbiz.de/10009621639

How much should I hold? : reserve adequacy in emerging markets and small islands

Mwase, Nkunde - 2012

This paper investigates the drivers of reserves in emerging markets (EMs) and small island (SIs) and develops an operational metric for estimating reserves in SIs taking into account their unique characteristics. It uses quantile regression techniques to allow the estimated factors driving...

Persistent link: https://www.econbiz.de/10009621657

Bond yields in emerging economies : it matters what state you are in

Jaramillo, Laura; Weber, Anke - 2012

While many studies have looked into the determinants of yields on externally issued sovereign bonds of emerging economies, analysis of domestically issued bonds has hitherto been limited, despite their growing relevance. This paper finds that the extent to which fiscal variables affect domestic...

Persistent link: https://www.econbiz.de/10009621689

Financial intermediation costs in low-income countries : the role of regulatory, institutional, and macroeconomic factors

Poghosyan, Tigran - 2012

We analyze factors driving persistently higher financial intermediation costs in low-income countries (LICs) relative to emerging market (EMs) country comparators. Using the net interest margin as a proxy for financial intermediation costs at the bank level, we find that within LICs a...

Persistent link: https://www.econbiz.de/10009615784

Global Business Cycles : Convergence or Decoupling?

Kose, M. Ayhan - 2008

Contents -- I. INTRODUCTION -- II. METHODOLOGY AND DATA -- III. DYNAMIC FACTORS AND EPISODES OF BUSINESS CYCLES -- IV. SOURCES OF BUSINESS CYCLE FLUCTUATIONS: 1960-2005 -- V. GLOBALIZATION AND THE EVOLUTION OF INTERNATIONAL BUSINESS CYCLES -- VI. SENSITIVITY EXPERIMENTS -- VII. CONCLUSION --...

Persistent link: https://www.econbiz.de/10012682176

Global Financial Crisis, Financial Contagion, and Emerging Markets.

Ozkan, F. Gulcin - 2012

find that the scale of financial spillovers from the global to the domestic economy and trade openness are key determinants … alternative monetary policy regimes is determined by the degree of financial contagion, the degree of trade openness as well as … openness -- 4.4 Monetary Policy Options and Welfare Analysis -- 5. Conclusions -- References -- Tables -- 1. Parameter Values …

Persistent link: https://www.econbiz.de/10012690152

Financial Development, the Structure of Capital Markets, and the Global Digital Divide.

Yartey, Charles Amo - 2006

Intro -- Contents -- I. INTRODUCTION -- II. FINANCE, FINANCIAL STRUCTURE, AND TECHNOLOGICAL DEVELOPMENT -- III. CROSS-COUNTRY DIFFUSION OF ICT -- IV. METHODOLOGY -- V. EMPIRICAL RESULTS -- VI. CONCLUDING REMARKS.

Persistent link: https://www.econbiz.de/10012690964

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