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Country Heterogeneity and the International Evidence on the Effects of Fiscal Policy
Favero, Carlo A. - 2011
This paper shows how the richer frequency and variety of fiscal policy shocks available in an international sample can be analyzed recognizing the heterogeneity that exists across different countries. The main conclusion of our empirical analysis is that the question "what is the fiscal policy...
Persistent link: https://www.econbiz.de/10013121730
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Stories of the Twentieth Century for the Twenty-First
Gourinchas, Pierre-Olivier - 2011
A key precursor of twentieth-century financial crises in emerging and advanced economies alike was the rapid buildup of leverage. Those emerging economies that avoided leverage booms during the 2000s also were most likely to avoid the worst effects of the twenty-first century's first global...
Persistent link: https://www.econbiz.de/10013121927
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Economic Impossibilities for Our Grandchildren?
O'Rourke, Kevin - 2015
The paper looks at the development of the secular stagnation thesis, in the context of the economic history of the time. It explores some 19th century antecedents of the thesis, before turning to its interwar development. Not only Alvin Hansen, but Keynes and Hicks were involved in the...
Persistent link: https://www.econbiz.de/10013010280
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Dynamic Prediction Pools : An Investigation of Financial Frictions and Forecasting Performance
Del Negro, Marco - 2014
We provide a novel methodology for estimating time-varying weights in linear prediction pools, which we call Dynamic Pools, and use it to investigate the relative forecasting performance of DSGE models with and without financial frictions for output growth and inflation from 1992 to 2011. We...
Persistent link: https://www.econbiz.de/10013045643
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Asiaphoria Meets Regression to the Mean
Pritchett, Lant - 2014
Consensus forecasts for the global economy over the medium and long term predict the world's economic gravity will …
Persistent link: https://www.econbiz.de/10013045644
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Aspects of Global Economic Intergration : Outlook for the Future
Feldstein, Martin S. - 2021
This paper comments on five aspects of globalization: (1) the gains from international flows of goods and capital; (2) the role of foreign direct investment and reasons for its increase; (3) the preventions and management of currency crises; (4) the fluctuation of relative currency values; and...
Persistent link: https://www.econbiz.de/10013217592
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Is Newer Better? Penn World Table Revisions and Their Impact on Growth Estimates
Johnson, Simon - 2010
This paper sheds light on two problems in the Penn World Table (PWT) GDP estimates. First, we show that these estimates …
Persistent link: https://www.econbiz.de/10013150435
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Offshore Jurisdictions (Including Cyprus), Corruption Money Laundering and Russian Round-Trip Investment
Ledyaeva, Svetlana - 2013
(namely, from Cyprus and British Virgin Islands) across Russia and compare them with the benchmark group of genuine foreign … investors in Russia. We further study the determinants of the fraction of round-trip investment in total foreign investment in … large fraction of round-trip investment in Russia is concentrated in real estate and financial sectors, our results point to …
Persistent link: https://www.econbiz.de/10013082421
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Crises in Emerging Market Economies : A Global Perspective
Calvo, Guillermo A. - 2021
The paper argues that global financial factors played an important role in the capital-inflow episode in Emerging Market economies (EMs), during the early part of the 1990s, and clearly in the Sudden Stop (of capital inflows) crises that took place after the 1998 Russian crisis. Moreover, the...
Persistent link: https://www.econbiz.de/10013313675
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Target Setting and Allocative Inefficiency in Lending : Evidence from Two Chinese Banks
Cao, Yiming - 2018
We study the consequences of month-end lending incentives for Chinese bank managers. Using data from two banks, one state-owned and the other partially privatized, we show a clear increase in lending in the final days of each month, a result of both more loan issuance and higher value per loan....
Persistent link: https://www.econbiz.de/10012911690