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Credit Constraints, Productivity Shocks and Consumption Volatility in Emerging Economies
Bhattacharya, Rudrani - 2013
How does access to credit impact consumption volatility? Theory and evidence from advanced economies suggests that … volatile than income, indicates that financial reform further increases the volatility of consumption relative to output. We … consumption volatility. Calibration of the model for pre and post financial reform in India provides support for the model's key …
Persistent link: https://www.econbiz.de/10014395178
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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
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Smart containment : lessons from countries with past experience
Fotiou, Alexandra; Lagerborg, Andresa - 2021
information campaigns - rather than stay-at-home requirements. Using past coronavirus outbreaks as an instrumental variable, we …
Persistent link: https://www.econbiz.de/10012604786
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Global corporate stress tests : impact of the COVID-19 pandemic and policy responses
Tressel, Thierry; Ding, Xiaodan - 2021
find that a large share of publicly-listed firms become vulnerable as a result of the pandemic shock and additional … the impact of the shock in the near term. Looking forward, while interest coverage ratios tend to improve over time after … the initial shock as earnings recover in line with projected macroeconomic conditions, liquidity needs remain substantial …
Persistent link: https://www.econbiz.de/10012605125
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Defying the odds : remittances during the COVID-19 pandemic
Kpodar, Kangni; Mlachila, Montfort; Quayyum, Saad; … - 2021
This paper provides an early assessment of the dynamics and drivers of remittances during the COVID-19 pandemic, using a newly compiled monthly remittance dataset for a sample of 52 countries, of which 16 countries with bilateral remittance data. The paper documents a strong resilience in...
Persistent link: https://www.econbiz.de/10012605630
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Corporate sector resilience in India in the wake of the COVID-19 shock
Górnicka, Lucyna; Ogawa, Sumiko; Xu, TengTeng - 2021
To assess the resilience of India's corporate sector against COVID-19-related shocks, we conducted a series of stress tests using firm-level corporate balance sheet data. The results reveal a differential impact across sectors, with the most severe impact on contact-intensive services,...
Persistent link: https://www.econbiz.de/10012795139
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Financial amplification of labor supply shocks
Biljanovska, Nina; Vardoulakis, Alexandros P. - 2020
/subsidy and a labor tax/subsidy. Labor shocks, such as the COVID-19 shock, amplify the policy responses, which critically depend …
Persistent link: https://www.econbiz.de/10012302066
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Effects of emerging market asset purchase program announcements on financial markets during the COVID-19 pandemic
Sever, Can; Goel, Rohit; Drakopoulos, Dimitris; … - 2020
The COVID-19 pandemic led many emerging market central banks to adopt, for the first time, unconventional policies in the form of asset purchase programs. In this study, we analyze the effects of these announcements on domestic financial markets using both event studies and local projections...
Persistent link: https://www.econbiz.de/10012487164
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New shocks and asset price volatility in general equilibrium
Matsumoto, Akito; Cova, Pietro; Pisani, Massimiliano; … - 2011
Persistent link: https://www.econbiz.de/10009425646
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Oil price volatility and the role of speculation
Beidas-Strom, Samya; Pescatori, Andrea - 2014
Persistent link: https://www.econbiz.de/10010479429