Showing 1 - 10 of 765
This paper assesses the effect of constrained trade finance on trade flows in countries undergoing financial and balance of payments crises. Most of the countries that had a major crisis had a significant trade contraction, while trade-related finance declined sharply. However, trade may also be...
Persistent link: https://www.econbiz.de/10014404046
It is not unusual for reforming socialist economies to relax wage controls without hardening budget constraints on enterprises or freeing consumer goods prices. This policy can be dangerously destabilizing. While higher wages permit workers to purchase more of some goods, they also tend to...
Persistent link: https://www.econbiz.de/10014398407
Liquidity in the banking sector in Argentina reached new heights in early 1996 with the sharp reflow of deposits in the …
Persistent link: https://www.econbiz.de/10014400542
Using urban household surveys, we constructed a panel dataset to study the effects of the Argentine macroeconomic crisis of 1999-2002 with the aim of (1) identifying the most vulnerable households, (2) investigating whether employment in the public sector and government spending served to...
Persistent link: https://www.econbiz.de/10014403950
This paper estimates bond-by-bond ""haircuts""-realized investor losses-in recent debt restructurings in Russia …, Ukraine, Pakistan, Ecuador, Argentina, and Uruguay. We consider both external and domestic retructurings. Haircuts are … Argentina exchange). We also find within-exchange variations in haircuts, depending on the instrument tendered. With exceptions …
Persistent link: https://www.econbiz.de/10014399674
We explore whether the global financial crisis has had heterogeneous effects on traded goods differentiated by quality. Combining a dataset of Argentinean firm-level destination-specific wine exports with quality ratings, we show that higher quality exports grew faster before the crisis, but...
Persistent link: https://www.econbiz.de/10011434921
Recent banking crises in Argentina, Paraguay, and Venezuela suggest that the macroeconomic impact is influenced by the …
Persistent link: https://www.econbiz.de/10014403255
This paper assesses whether corporate liquidity needs in the G7 economies were met during the containment phase of the COVID-19 pandemic (February-June 2020) using various approaches to identify credit supply shocks. The pandemic crisis adversely affected nonfinancial corporate sector cash...
Persistent link: https://www.econbiz.de/10012518978
One of the most puzzling facts in the wake of the Global Financial Crisis (GFC) is that output across advanced and emerging economies recovered at a much slower rate than anticipated by most forecasting agencies. This paper delves into the mechanics behind the observed slow recovery and the...
Persistent link: https://www.econbiz.de/10012610732
This paper studies the dynamics of external accounts during 278 economic recession events in the past 60 years and sheds light on key factors that shape these patterns. Economic recessions trigger highly-persistent increases in the current account, driven by an initial, sharp decline in...
Persistent link: https://www.econbiz.de/10012605536