Showing 1 - 10 of 39
Persistent link: https://www.econbiz.de/10010389584
Macrofinancial Model (GFM). This dynamic stochastic general equilibrium model of the world economy, disaggregated into forty national …
Persistent link: https://www.econbiz.de/10011848258
Persistent link: https://www.econbiz.de/10010441940
We estimate world cycles using a new quarterly dataset of output, credit and asset prices assembled using IMF archives … and covering a large set of advanced and emerging economies since 1950. World cycles, both real and financial, exist and … time. Although this is true for prices (goods and assets), this not true for quantities (output and credit). The world …
Persistent link: https://www.econbiz.de/10012103742
Persistent link: https://www.econbiz.de/10012487207
This paper provides evidence of a strong relationship between the short-term dynamics of growth and inequality in developing economies. We find that reductions in inequality during growth upswings are largely reversed during growth slowdowns. Using a new methodology (mediation analysis), we...
Persistent link: https://www.econbiz.de/10012001589
Recent financial crises including the ongoing one caused by the COVID-19 pandemic have consistently drawn attention to the need to strengthen the quality of public debt management in emerging markets and developing countries. Deeper and more efficient domestic government debt markets-being, a...
Persistent link: https://www.econbiz.de/10012392641
Persistent link: https://www.econbiz.de/10009422668
A cross-country comparative analysis shows that there is substantial room for further integration of China into global financial markets, especially in the case of the international bond market. A further successful liberalization of the Chinese bond market would encompass not only loosening...
Persistent link: https://www.econbiz.de/10011978420
We construct unanticipated government spending shocks for 103 developing countries from 1990 to 2015 and study their effects on income distribution. We find that unanticipated fiscal consolidations lead to a long-lasting increase in income inequality, while fiscal expansions lower inequality....
Persistent link: https://www.econbiz.de/10011848133