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business cycles in emerging economies. Using a s mall open economy model, we show that as capital account openness increases in … an economy that faces trade shocks, business cycle volatility reduces. For an economy with limited financial openness …
Persistent link: https://www.econbiz.de/10011705394
Some emerging economies have a relatively ineffective monetary policy transmission owing to weaknesses in the domestic financial system and the presence of a large and segmented informal sector. At the same time, small open economies can have a substantial monetary policy transmission through...
Persistent link: https://www.econbiz.de/10014403439
How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that greater household access to finance smooths consumption. Evidence from emerging markets, where consumption is usually more volatile than income, indicates that financial reform...
Persistent link: https://www.econbiz.de/10014395178
revisits the question, with a focus on decomposing portfolio performance into asset allocation and security selection. We …
Persistent link: https://www.econbiz.de/10014395250