Showing 21 - 30 of 517
We examine the effectiveness of capital controls versus macroprudential regulation in reducing financial fragility in a small open economy model in which there is excessive borrowing because of externalities associated with financial crises and contractionary exchange rate depreciations. We find...
Persistent link: https://www.econbiz.de/10013031032
the U.S. and the U.K., pyramidal control structures, cross shareholding and super voting rights are common. Using these …
Persistent link: https://www.econbiz.de/10012754592
After more than three decades of high growth that was based on an exploration of its low-wage advantage and a relatively favorable demographic pattern in combination with market-oriented reforms and openness to the world economy, China is at a crossroad with a much higher wage and a shrinking...
Persistent link: https://www.econbiz.de/10012978531
The increase in defaults in the subprime mortgage market is widely held to be one of the causes behind the recent financial turmoil. Key issues of policy concern include quantifying the role of various factors, such as home price declines and loosened underwriting standards, in the recent...
Persistent link: https://www.econbiz.de/10013085919
In this paper, we study the optimal design of financial safety nets under limited private credit. We ask when it is optimal to restrict ex ante the set of investors that can receive public liquidity support ex post. When the government can commit, the optimal safety net covers all investors....
Persistent link: https://www.econbiz.de/10012983670
We estimate the effect of political regime transitions on growth with semi-parametric methods, combining difference in differences with matching, that have not been used in macroeconomic settings. Our semi-parametric estimates suggest that previous parametric estimates may have seriously...
Persistent link: https://www.econbiz.de/10013224714
This paper uses asset and labor market data from the Health and Retirement Study (HRS) to investigate how the recent "Great Recession" has affected the wealth and retirement of those in the population who were just approaching retirement age at the beginning of the recession, a potentially...
Persistent link: https://www.econbiz.de/10013119041
The US government has recently conducted large scale purchases of assets and implemented policies that reduced the cost of funds to financial institutions. Arguably these policies have helped to correct credit market dysfunctions, allowing interest rate spreads to shrink and output to begin a...
Persistent link: https://www.econbiz.de/10013123690
: comparison with Japan, comparison with the New Economic Policy (NEP), and assuming alternative post-1940 growth scenarios …
Persistent link: https://www.econbiz.de/10013076184
The recent world energy crisis raises serious questions about the extent to which the United States should increase domestic oil production and develop alternative sources of energy. We examine the energy developments in Brazil as an important experiment. Brazil has reduced its share of imported...
Persistent link: https://www.econbiz.de/10012750098