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Fiscal stimulus impact on firms' profitability during the global financial crisis
Correa-Caro, Carolina; Medina, Leandro; … - 2018
Using financial statement data from the Thomson Reuter's Worldscope database for 22,333 non-financial firms in 52 advanced and emerging economies, this paper examines how fiscal stimulus (i.e., changes in structural deficit) interacted with sectoral business cycle sensitivity affected corporate...
Persistent link: https://www.econbiz.de/10011978407
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Macroeconomic consequences of tariffs
Furceri, Davide; Ahmed Hannan, Swarnali; Ostry, … - 2019
, to economically and statistically significant declines in domestic output and productivity. Tariff increases also result …. The effects on output and productivity tend to be magnified when tariffs rise during expansions, for advanced economies …
Persistent link: https://www.econbiz.de/10012001500
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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
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Economic Performance Over the Conflict Cycle
Staines, Nicholas - 2004
The paper finds a significant shift in the economic characteristics of civil conflicts during the1990s. Conflicts have become shorter but with more severe contractions and a stronger recovery of growth. The overall length and cost of the conflict cycle has probably declined. The stance of...
Persistent link: https://www.econbiz.de/10014399713
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Trade, productivity and (mis)allocation
Berthou, Antoine; Chung, Jong Hyun; Manova, Kalina; … - 2020
productivity, while import liberalization has ambiguous effects. Resource misallocation can either amplify, dampen or reverse the … productivity gains. Guided by theory, we provide evidence consistent with these effects operating through reallocations across … firms in the presence of distortions: (i) Both export and import expansion increase average firm productivity, but the …
Persistent link: https://www.econbiz.de/10012301837
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Resource misallocation in India : the role of cross-state labor market reform
Mohommad, Adil; Sandoz, Charlotte; Sodsriwiboon, Piyaporn - 2021
At the macro level, productivity is driven by technology and the efficiency of resource allocation, as outcomes of … reducing labor market rigidities in states with high informality has a net positive effect on aggregate productivity …
Persistent link: https://www.econbiz.de/10012518715
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Credit misallocation and economic growth in Vietnam
Katagiri, Mitsuru - 2019
The legacy of non-performing loans and high opportunity cost of government financing of bank recapitalization impeded the efficiency of financial intermediation and are an important policy issue in Vietnam. This paper presents a theoretical and empirical analysis of the issue. An empirical...
Persistent link: https://www.econbiz.de/10012103676
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Informality and aggregate productivity : the case of Mexico
Alvarez, Jorge; Ruane, Cian - 2019
We assess the aggregate productivity impact of distortions arising from labor regulations in Mexico and how they … but small impacts on aggregate productivity …
Persistent link: https://www.econbiz.de/10012154849
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Factor Reallocation and Growth in Developing Countries
Poirson, Hélène - 2000
the impact and determinants of sectoral changes and of the degree of dualism (or allocation inefficiency) in a dual …
Persistent link: https://www.econbiz.de/10014399960
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How Does Financial Globalization Affect Risk Sharing? : Patterns and Channels
Terrones, Marco - 2007
In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international...
Persistent link: https://www.econbiz.de/10014400319