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High Performing Asian Economies
Fogel, Robert W. - 2021
To American and European economists in 1945, the countries of Asia were unpromising candidates for high economic growth … Asia experienced vigorous economic growth, some with growth rates far exceeding the previous growth rates of the … economic growth would falter, proved to be incorrect. Growth rates will probably continue at high levels in Southeast Asia for …
Persistent link: https://www.econbiz.de/10013227236
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External Adjustment and the Global Crisis
Lane, Philip R. - 2011
The period preceding the global financial crisis was characterized by a substantial widening of current account imbalances across the world. Since the onset of the crisis, these imbalances have contracted to a significant extent. In this paper, we analyze the ongoing process of external...
Persistent link: https://www.econbiz.de/10013121032
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Flexibility of Adjustment to Shocks : Economic Growth and Volatility of Middle-Income Countries Before and after the Global Financial Crisis of 2008
Aizenman, Joshua - 2017
The pronounced and persistent impact of the global financial crisis of 2008 motivates our empirical analysis of the role of institutions and macroeconomic fundamentals on countries' adjustment to shocks. Our empirical analysis shows that the associations of growth level, growth volatility,...
Persistent link: https://www.econbiz.de/10012954940
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Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises
Bordo, Michael D. - 2015
Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...
Persistent link: https://www.econbiz.de/10013020714
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Unemployment in the Great Recession : A Comparison of Germany, Canada and the United States
Hoffmann, Florian - 2014
This paper investigates the potential reasons for the surprisingly different labor market performance of the United States, Canada, Germany, and several other OECD countries during and after the Great Recession of 2008-09. Unemployment rates did not change substantially in Germany, increased and...
Persistent link: https://www.econbiz.de/10013043619
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Liquidity and Foreign Asset Management Challenges for Latin American Countries
Aizenman, Joshua - 2014
We analyze the degree to which the growing importance of sovereign wealth funds [SWFs] and the diffusion of inflation targeting and augmented Taylor rules have impacted the post crisis adjustment of Latin American Countries (LATAM) to the challenges associated with terms of trade and financial...
Persistent link: https://www.econbiz.de/10013044618
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Credit Crunches and Credit Allocation in a Model of Entrepreneurship
Bassetto, Marco - 2014
We study the effects of credit shocks in a model with heterogeneous entrepreneurs, financing constraints, and a realistic firm size distribution. As entrepreneurial firms can grow only slowly and rely heavily on retained earnings to expand the size of their business in this set-up, we show that,...
Persistent link: https://www.econbiz.de/10013063297
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Necessity as the Mother of Invention : Monetary Policy after the Crisis
Blinder, Alan S. - 2016
We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys—one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...
Persistent link: https://www.econbiz.de/10012981105
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Currency and Financial Crises of the 1990s and 2000s
Razin, Assaf - 2011
We survey three distinct types of financial crises which took place in the 1990s and the 2000s: 1) the credit implosion leading to severe banking crisis in Japan; 2) The foreign reserves' meltdown triggered by foreign hot money flight from frothy economies with fixed exchange rate regimes of...
Persistent link: https://www.econbiz.de/10013130560
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Liquidity Management and Corporate Investment During a Financial Crisis
Campello, Murillo - 2010
This paper uses a unique dataset to study how firms managed liquidity during the financial crisis. Our analysis provides new insights on the interactions between internal liquidity, external funds, and real corporate decisions, such as investment and employment. We first describe how companies...
Persistent link: https://www.econbiz.de/10013138771