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The global economic recovery 10 years after the 2008 financial crisis
Chen, Wenjie; Mrkaic, Mico; Nabar, Malhar - 2019
This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...
Persistent link: https://www.econbiz.de/10012019853
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Non-linearities in fiscal policy : the role of debt
Fotiou, Alexandra - 2020
Empirical evidence shows that fiscal multipliers depend on the state of the cycle, the nature of fiscal policy and the level of debt. In other words, evidence points to non-linearities in the effects of fiscal policy. This paper provides a framework to examine the role of the level of government...
Persistent link: https://www.econbiz.de/10012392585
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How costly are debt crises?
Furceri, Davide; Zdzienicka, Aleksandra - 2011
Persistent link: https://www.econbiz.de/10009419721
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South Africa : the financial sector-sovereign nexus
Hesse, Heiko; Miyajima, Ken - 2022
Globally, financial institutions have increased their holdings of domestic sovereign debt, tightening the linkage between the health of the financial system and the level of sovereign debt, or the "financial sector-sovereign nexus," during the ongoing COVID-19 pandemic. In South Africa, the...
Persistent link: https://www.econbiz.de/10013170007
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Bankruptcy Procedures for Sovereigns : A History of Ideas, 1976-2001
Zettelmeyer, Jeromin - 2002
This paper describes the evolution of ideas to apply bankruptcy reorganization principles to sovereign debt crises. Our focus is on policy proposals between the late 1970s and Anne Krueger''s (2001) proposed ""Sovereign Debt-Restructuring Mechanism,"" with brief reference to the economics...
Persistent link: https://www.econbiz.de/10014403667
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Precautionary savings in the Great Recession
Mody, Ashoka; Ohnsorge, Franziska; Sandri, Damiano - 2012
Persistent link: https://www.econbiz.de/10009572544
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Precautionary Savings in the Great Recession
Mody, Ashoka - 2012
Heightened uncertainty since the onset of the Great Recession has materially increased saving rates, contributing to lower consumption and GDP growth. Consistent with a model of precautionary savings in the face of uncertainty, we find for a panel of advanced economies that greater labor income...
Persistent link: https://www.econbiz.de/10014396946
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Demand Spillovers and the Collapse of Trade in the Global Recession
Yi, Kei-Mu - 2010
This paper uses a global input-output framework to quantify US and EU demand spillovers and the elasticity of world … simultaneously, our framework delivers an elasticity of world trade to GDP of nearly 3. Thus, demand alone can account for 70 percent …
Persistent link: https://www.econbiz.de/10014402796
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Inflation dynamics and the Great Recession
Ball, Laurence M.; Mazumder, Sandeep - 2011
Persistent link: https://www.econbiz.de/10009425658
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Inflation Dynamics and the Great Recession
Mazumder, Sandeep - 2011
This paper examines inflation dynamics in the United States since 1960, with a particular focus on the Great Recession …. A puzzle emerges when Phillips curves estimated over 1960-2007 are ussed to predice inflation over 2008-2010: inflation … by theories of costly price adjustment: we measure core inflation with the median CPI inflation rate, and we allow the …
Persistent link: https://www.econbiz.de/10014399270