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The COVID-19 pandemic prompted a collapse in international tourism, severely impacting the tourism-dependent economies in the Asia and Pacific region. Once countries start reopening, tourism diversion effects could accelerate the recovery in countries that establish themselves as more attractive...
Persistent link: https://www.econbiz.de/10012796804
monetary and financial conditions, leading to novel international spillovers and crucial departures from Mundell's trilemma. We …
Persistent link: https://www.econbiz.de/10012112314
This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover...
Persistent link: https://www.econbiz.de/10011408247
Persistent link: https://www.econbiz.de/10010388854
This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover...
Persistent link: https://www.econbiz.de/10012692504
quarterly data for the period 1999-2016. Our analysis suggests that fiscal spillovers are significant and tend to be larger for … policy have changed over time, with larger estimated domestic multipliers and spillovers between 2011 and 2014 …
Persistent link: https://www.econbiz.de/10011763596
This paper analyzes cross-border macrofinancial spillovers from a variety of macroprudential policy measures, using a … credit spillovers from sectoral macroprudential policy shocks are generally small worldwide, but are regionally concentrated … indicates that countercyclical capital buffer adjustments have the potential to generate sizeable regional spillovers …
Persistent link: https://www.econbiz.de/10011705323
To test the role of bank lending in transmitting currency crisis we examine a panel of BIS data on bank flows to 30 emerging markets disaggregated by 11 banking centers. We find that bank exposures to a crisis country help predict bank flows in third countries after the Mexican and Asian crisis,...
Persistent link: https://www.econbiz.de/10014399830
data, demonstrate the need to include spatial price spillovers to remove bias, and propose an innovative approach to …
Persistent link: https://www.econbiz.de/10014411213
Shocks stemming from Brazil - the large neighbor in South America - have historically been a source of concern for … policy-makers in other countries of the region. This paper studies the importance of Brazil's influence on its neighboring … setting. While trade linkages with Brazil are significant for the Southern Cone countries (Argentina, Bolivia, Chile, Paraguay …
Persistent link: https://www.econbiz.de/10009618584