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Unemployment surges in the EU : the role of risk premium shocks

Bakker, Bas B.; Korczak, Marta; Krogulski, Krzysztof - 2019

In the last decade, over half of the EU countries in the euro area or with currencies pegged to the euro were hit by large risk premium shocks. Previous papers have focused on the impact of these shocks on demand. This paper, by contrast, focuses on the impact on supply. We show that risk...

Persistent link: https://www.econbiz.de/10012009587

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 trade to GDP during the global recession of 2008-2009. We find that 20-30 percent of the decline in the US and EU demand was borne by foreign countries, with NAFTA, Emerging...

Persistent link: https://www.econbiz.de/10014402796

Apocalypse then : The Evolution of the North Atlantic Economy and the Global Crisis

Bui, Trung - 2011

The financial crisis, originated from the collapse of US housing markets in 2008, reverberates around the world. Its destructive force was felt nowhere more keenly than Western Europe. Indeed, it continues to mire in financial volatility as the debt problem contagiously spreads around the...

Persistent link: https://www.econbiz.de/10014398383

Equity Returns in the Banking Sector in the Wake of the Great Recession and the European Sovereign Debt Crisis

Chan-Lau, Jorge A. - 2012

This study finds that equity returns in the banking sector in the wake of the Great Recession and the European sovereign debt crisis have been driven mainly by weak growth prospects and heightened sovereign risk and to a lesser extent, by deteriorating funding conditions and investor sentiment....

Persistent link: https://www.econbiz.de/10014412154

Initial output losses from the Covid-19 pandemic : robust determinants

Furceri, Davide; Ganslmeier, Michael; Ostry, Jonathan David - 2021

While the COVID-19 pandemic is affecting all countries, output losses vary considerably across countries. We provide a first analysis of robust determinants of observed initial output losses using model-averaging techniques-Weighted Average Least Squares and Bayesian Model Averaging. The results...

Persistent link: https://www.econbiz.de/10012517923

Social repercussions of pandemics

Barrett, Philip; Chen, Sophia - 2021

Epidemics may have social scarring effects, increasing the likelihood of social unrest. They may also have mitigating effect, suppressing unrest by dissuading social activities. Using a new monthly panel on social unrest in 130 countries, we find a positive cross-sectional relationship between...

Persistent link: https://www.econbiz.de/10012517929

Corporate funding and the COVID-19 crisis

Deghi, Andrea; Seneviratne, Dulani; Tsuruga, Tomohiro; … - 2021

COVID-19 pandemic (February-June 2020) using various approaches to identify credit supply shocks. The pandemic crisis …

Persistent link: https://www.econbiz.de/10012518978

US housing market during COVID-19 : aggregate and distributional evidence

Zhao, Yunhui - 2020

COVID-19 era. Some aggregate results are: (1) growth rate of median housing price during the four months (April-August 2020 … displays a structural break since March 2020 (housing demand has increased by much more than before). These results indicate … find that the developments in housing price, demand, and supply since April 2020 are similar across urban, suburban, and …

Persistent link: https://www.econbiz.de/10012392046

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

How does the Repo market behave under stress? : evidence from the COVID-19 crisis

Hüser, Anne-Caroline; Lepore, Caterina; Veraart, Luitgard - 2021

We examine how the repo market operates during liquidity stress by applying network analysis to novel transaction-level data of the overnight gilt repo market including the COVID-19 crisis. During this crisis, the repo network becomes more connected, with most institutions relying on existing...

Persistent link: https://www.econbiz.de/10012796211

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