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Loose financial conditions, rising leverage, and risks to macro-financial stability
Barajas, Adolfo; Choi, Woon Gyu; Gan, Ken Zhi; Guérin, … - 2021
After a steady increase following the global financial crisis, private nonfinancial sector leverage rose further during the COVID-19 on the back of easy financial conditions induced by unprecedented policy support. We investigate the empirical relationships between increased leverage, financial...
Persistent link: https://www.econbiz.de/10012796808
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Taxation, Bank Leverage, and Financial Crises
Mooij, Ruud A. de - 2013
That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and the probability of financial crisis. It finds that...
Persistent link: https://www.econbiz.de/10014395378
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Corporate Financial Structure and Financial Stability
Stone, Mark R. - 2004
This paper uses flow-of-funds and balance sheet data to analyze the impact of financial crises on corporate financing and GDP in a range of countries. Post-crisis GDP contractions are mainly accounted for by declines in investment and inventory and are more severe for emerging market countries....
Persistent link: https://www.econbiz.de/10014404095
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Facing the global financial cycle : what role for policy responses?
Batini, Nicoletta; Durand, Luigi - 2021
Abstract In this paper we ask whether countries can influence their exposure to changes in global financial conditions. Specifically, we show that even though we can model cross-country capital flows via a global factor that closely tracks changes in global financial conditions, there is a large...
Persistent link: https://www.econbiz.de/10012518283
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The global macrofinancial model
Vitek, Francis - 2018
Macrofinancial Model (GFM). This dynamic stochastic general equilibrium model of the world economy, disaggregated into forty national …
Persistent link: https://www.econbiz.de/10011848258
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The impact of the global financial crisis on banking globalization
Claessens, Stijn; Horen, Neeltje van - 2014
Persistent link: https://www.econbiz.de/10010441940
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Financial Globalization : A Reappraisal
Kose, M. Ayhan - 2006
The literature on the benefits and costs of financial globalization for developing countries has exploded in recent … macroeconomic effects of financial globalization, in terms of both growth and volatility. Overall, our critical reading of the … financial globalization, but with many nuances. On the other hand, there is little systematic evidence to support widely cited …
Persistent link: https://www.econbiz.de/10014401981
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Global Imbalances and Financial Stability
Xafa, Miranda - 2007
natural consequence of economic and financial globalization. In terms of their policy implications, the traditional view …
Persistent link: https://www.econbiz.de/10014399530
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Global Risks and Collective Action Failures : What Can the International Community Do?
Otker-Robe, Inci - 2014
Abstract What do climate change, global financial crises, pandemics, and fragility and conflict have in common? They are all examples of global risks that can cross geographical and generational boundaries and whose mismanagement can reverse gains in development and jeopardize the well-being of...
Persistent link: https://www.econbiz.de/10014411688
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The Impact of the Global Financial Crisis on Banking Globalization
Claessens, Stijn - 2014
Although cross-border bank lending has fallen sharply since the crisis, extending our bank ownership database from 1995-2009 up to 2013 shows only limited retrenchment in foreign bank presence. While banks from OECD countries reduced their foreign presence (but still represent 89% of foreign...
Persistent link: https://www.econbiz.de/10014411689