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Financial cycles : what? how? when?
Claessens, Stijn; Kose, M. Ayhan; Terrones, Marco E. - 2011
Persistent link: https://www.econbiz.de/10009486246
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Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices
Medina Guzman, Juan Pablo - 2007
This paper studies optimal monetary policy in a two-sector small open economy model under segmented asset markets and sticky prices. We solve the Ramsey problem under full commitment, and characterize the optimal monetary policy in a calibrated version of the model. The findings of the paper are...
Persistent link: https://www.econbiz.de/10014399992
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Applying the central clearing mandate : different options for different markets
Kiff, John; Gullo, Alessandro; Hillier, Cory; … - 2022
Back in 2009, G-20 leaders have called for all standardized over-the-counter (OTC) derivatives to be cleared through central counterparties (CCPs). By now, 18 of the 24 Financial Stability Board (FSB) member jurisdictions have provided for mandatory central clearing frameworks in place, covering...
Persistent link: https://www.econbiz.de/10013170536
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Financial Cycles : What? How? When?
Terrones, Marco E. - 2011
This paper provides a comprehensive analysis of financial cycles using a large database covering 21 advanced countries over the period 1960:1-2007:4. Specifically, we analyze cycles in credit, house prices, and equity prices. We report three main results. First, financial cycles tend to be long...
Persistent link: https://www.econbiz.de/10014400944
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An evaluation of World Economic Outlook growth forecasts - 2004-17
Celasun, Oya; Lee, Jungjin; Mrkaic, Mico; Timmermann, Allan - 2021
growth forecasts over that period exhibit little bias, and their accuracy is broadly similar to those of Consensus Economics …
Persistent link: https://www.econbiz.de/10012796831
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Optimism bias in growth forecasts : the role of planned policy adjustments
Ismail, Kareem; Perrelli, Roberto; Yang, Jessie - 2020
Are IMF growth forecasts systematically optimistic? And if so, what is the role of planned policy adjustments on this outcome? Are program forecasts as biased as surveillance forecasts? We try to answer these questions using a comprehensive database on IMF forecasts of economic growth in...
Persistent link: https://www.econbiz.de/10012392484
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Judge bias in labor courts and firm performance
Cahuc, Pierre; Carcillo, Stéphane; Patault, Berengere; … - 2021
-level records covering the whole universe of French firms. The quasi-random assignment of judges to cases reveals that judge bias … find that the uncertainty associated with the actual dispersion of judge bias is small and has a non-significant impact on …
Persistent link: https://www.econbiz.de/10012518274
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The political economy of fiscal transparency and independent fiscal councils
Beetsma, Roel; Debrun, Xavier; Sloof, Randolph - 2017
IFC as the debt bias would shrink. However, when other considerations eclipse competence and give the incumbent a strong … electoral advantage or disadvantage, setting up an IFC may be counterproductive as the debt bias would increase. If the … bias if voters care sufficiently about policymakers' competence; (ii) not all political environments are conducive to the …
Persistent link: https://www.econbiz.de/10011799662
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Growth : now and forever?
Ho, Giang; Mauro, Paolo - 2014
show that optimism bias is greater the longer the forecast horizon …
Persistent link: https://www.econbiz.de/10012667445
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Fat tails and their (un)happy endings : correlation bias and its implications for systemic risk and prudential regulation
Chan-Lau, Jorge A. - 2011
Persistent link: https://www.econbiz.de/10009486263