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Euro Area Sovereign Risk During the Crisis

Zoli, Edda - 2009

While the use of public resources is critical to cushion the impact of the financial crisis on the euro-area economy, it is key that the entailed fiscal costs not be seen by markets as undermining fiscal sustainability. From this perspective, to what extent do movements in euro area sovereign...

Persistent link: https://www.econbiz.de/10014402235

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

Chan-Lau, Jorge A. - 2012

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

Persistent link: https://www.econbiz.de/10014412154

What shapes current account adjustment during recessions?

Kolerus, Christina Elisabeth - 2021

account, driven by an initial, sharp decline in investment and fueled by medium term deleveraging, more so in advanced …

Persistent link: https://www.econbiz.de/10012605536

The Output Decline in Asian Crisis Countries : Investment Aspects

Greene, Joshua E. - 2002

reducing the financing available for domestic investment. Panel data regressions suggest a positive, short-term relationship … between net capital inflows and investment during the period before 1997 in five Asian countries once real net capital flows … are netted out from real flows of private bank credit. In addition, net real private inflows and real private investment …

Persistent link: https://www.econbiz.de/10014399819

Sovereign Debt Markets in Turbulent Times : Creditor Discrimination and Crowding-Out

Broner, Fernando - 2013

reallocated from the private to the public sectors, reducing investment and deepening the recessions even further. To account for …. This implies that domestic debt purchases displace productive investment. The model shows that these purchases reduce …

Persistent link: https://www.econbiz.de/10014394354

Hysteresis and business cycles

Cerra, Valerie; Fatás, Antonio; Saxena, Sweta Chaman - 2020

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as 'hysteresis,' argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and...

Persistent link: https://www.econbiz.de/10012251398

International Evidenceon Recovery From Recessions

Cerra, Valerie - 2009

Although negative shocks have persistent effects on output on average, this paper shows that macroeconomic policies and the structure of the economy can influence the speed of recovery and mitigate the persistence of the shock. Indeed, monetary and fiscal stimulus and foreign aid can spur a...

Persistent link: https://www.econbiz.de/10014402383

Deja Vu All Over Again? : The Mexican Crisis and the Stabilization of Uruguay in the 1970's

International Monetary Fund - 1996

Comparing the 1978-82 Uruguayan stabilization with the 1990-94 Mexican experience reveals that exchange rate based stabilization tends to increase the economy’s vulnerability to unexpected shocks. An exchange rate rule, with full capital mobility, can only succeed if compatible financial...

Persistent link: https://www.econbiz.de/10014395804

Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries

International Monetary Fund - 1989

This paper develops a small analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring a nominal devaluation. The effects of postponing adjustment depend on the source of the original...

Persistent link: https://www.econbiz.de/10014396111

Disentangling India’s investment slowdown

Anand, Rahul; Tulin, Volodymyr - 2014

Persistent link: https://www.econbiz.de/10010359891

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