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The Social Cost of Foreign Exchange Reserves
Rodrik, Dani - 2010
There has been a very rapid rise since the early 1990s in foreign reserves held by developing countries. These reserves have climbed to almost 30 percent of developing countries' GDP and 8 months of imports. Assuming reasonable spreads between the yield on reserve assets and the cost of foreign...
Persistent link: https://www.econbiz.de/10012761780
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Looking Beyond Tria : A Clinical Examination of Potential Terrorism Loss Sharing
Kunreuther, Howard; Michel-Kerjan, Erwann - 2021
The Terrorism Risk Insurance Act of 2002 (TRIA) established a public-private program to cover commercial enterprises against foreign terrorism on US soil. It was a temporary measure to increase the availability of risk coverage for terrorist acts by requiring insurers to provide coverage....
Persistent link: https://www.econbiz.de/10013310248
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Does the Aids Epidemic Really Threaten Economic Growth?
Bloom, David E.; Mahal, Ajay S. - 2021
This study examines the claim that the AIDS epidemic will slow the pace of economic growth. We do this by examining the … prevalence of AIDS and the rate of growth of GDP per capita. Our analysis uses well- established empirical growth models to … control for a variety of factors possibly correlated with AIDS prevalence that might also influence growth. We also account …
Persistent link: https://www.econbiz.de/10013218100
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When Fast Growing Economies Slow Down : International Evidence and Implications for China
Eichengreen, Barry - 2011
Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita...
Persistent link: https://www.econbiz.de/10013127765
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The U.S. Left Behind : The Rise of IPO Activity Around the World
Doidge, Craig - 2011
During the past two decades, there has been a dramatic change in IPO activity around the world. Though vibrant IPO … the U.S. has fallen compared to the rest of the world and U.S. firms go public less than expected based on the economic …
Persistent link: https://www.econbiz.de/10013127767
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Sovereign Default Risk and Bank Fragility in Financially Integrated Economies
Bolton, Patrick - 2011
We analyze contagious sovereign debt crises in financially integrated economies. Under financial integration banks optimally diversify their holdings of sovereign debt in an effort to minimize the costs with respect to an individual country's sovereign debt default. While diversification...
Persistent link: https://www.econbiz.de/10013127984
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Dividends and Bank Capital in the Financial Crisis of 2007-2009
Acharya, Viral V. - 2011
The headline numbers appear to show that even as banks and financial intermediaries suffered large credit losses in the financial crisis of 2007-09, they raised substantial amounts of new capital, both from private investors and through government-funded capital injections. However, on closer...
Persistent link: https://www.econbiz.de/10013128263
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What Explains the Lagged Investment Effect?
Eberly, Janice C. - 2011
The best predictor of current investment at the firm level is lagged investment. This lagged-investment effect is empirically more important than the cash-flow and Q effects combined. We show that the specification of investment adjustment costs proposed by Christiano, Eichenbaum and Evans...
Persistent link: https://www.econbiz.de/10013128270
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The Liquidation of Government Debt
Reinhart, Carmen M. - 2011
Historically, periods of high indebtedness have been associated with a rising incidence of default or restructuring of public and private debts. A subtle type of debt restructuring takes the form of "financial repression." Financial repression includes directed lending to government by captive...
Persistent link: https://www.econbiz.de/10013128286
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Does Price Reveal Poor-Quality Drugs? Evidence from 17 Countries
Bate, Roger - 2011
Focusing on 8 drug types on the WHO-approved medicine list, we constructed an original dataset of 899 drug samples from 17 low- and median-income countries and tested them for visual appearance, disintegration, and analyzed their ingredients by chromatography and spectrometry. Fifteen percent of...
Persistent link: https://www.econbiz.de/10013128895