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Jirasavetakul, La-Bhus Fah; Spilimbergo, Antonio - 2018

Uncertainty over economic policy plays a key role in economic outcomes. But evidence and quantification for emerging markets are elusive because of measurement and reverse causality issues. In this paper, we construct a news-based economic policy uncertainty (EPU) index for Turkey and assess how...

Persistent link: https://www.econbiz.de/10011978593

Corporate investment in emerging markets : financing vs. real options channel

Li, Delong; Magud, Nicolas; Valencia, Fabian - 2015

in global interest rates and volatility. We test for the presence of (i) a financing channel originating from changes in … interest rates or volatility, while firms with stronger balance sheets become less willing to invest after volatility spikes …

Persistent link: https://www.econbiz.de/10011445568

Optimal oil production and the world supply of oil

Aleksandrov, Nikolay; Espinoza, Raphael; Gyurkó, Lajos - 2012

We study the optimal oil extraction strategy and the value of an oil field using a multiple real option approach. The numerical method is flexible enough to solve a model with several state variables, to discuss the effect of risk aversion, and to take into account uncertainty in the size of...

Persistent link: https://www.econbiz.de/10012671531

Uncertainty and the employment dynamics of small and large businesses

Ghosal, Vivek; Ye, Yang - 2015

Persistent link: https://www.econbiz.de/10010479342

Fixed Investment and Capital Flows : A Real Options Approach

Chan-Lau, Jorge A. - 1998

This paper draws a link between international capital flows and the real options approach to investment by extending a model of real estate investment. It explains gradual investment, investment booms, and investment during recessions and emphasizes sunk costs, uncertainty, and the value of...

Persistent link: https://www.econbiz.de/10014403404

Stress testing and calibration of macroprudential policy tools

Górnicka, Lucyna; Valderrama, Laura - 2020

We present a semi-structural model of default risk, which is a function of loan and borrower characteristics, economic conditions, and the regulatory environment. We use this model to simulate bank credit losses for stress-testing purposes and to calibrate borrower-based macroprudential tools....

Persistent link: https://www.econbiz.de/10012301885

Remittance concentration and volatility : evidence from 72 developing countries

Hosny, Amr - 2020

, and volatility in the remittance-sending country …

Persistent link: https://www.econbiz.de/10012252729

Nonresident capital flows and volatility : evidence from Malaysia's local currency bond market

Grigorian, David A. - 2019

volatility. The paper provides an overview of the recent developments in the conventional debt market. It builds an empirical two … that nonresident flows are behind the observed exchange rate volatility. The results suggest that the public debt market in … Malaysia responds adequately to both pull and push factors and find no firm evidence that nonresident flows cause volatility in …

Persistent link: https://www.econbiz.de/10012001596

Fiscal rules in a volatile world : a welfare-based approach

García, Carlos José; Restrepo L., Jorge Enrique; … - 2011

Persistent link: https://www.econbiz.de/10009486197

The macroeconomic effects of public investment : evidence from advanced economies

Abiad, Abdul; Furceri, Davide; Topalova, Petia - 2015

Persistent link: https://www.econbiz.de/10011281181

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