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Bems, Rudolfs - 2012

We survey recent literature on the causes of the collapse in international trade during the 2008-2009 global recession. We argue that the evidence points to the collapse in aggregate expenditure, concentrated on trade-intensive durable goods, as the main driver of the trade collapse. Inventory...

Persistent link: https://www.econbiz.de/10013096140

The Great Trade Collapse of 2008-09 : An Inventory Adjustment?

Alessandria, George - 2010

This paper examines the role of inventories in the decline of production, trade, and expenditures in the US in the economic crisis of late 2008 and 2009. Empirically, we show that international trade declined more drastically than trade-weighted production or absorption and there was a sizeable...

Persistent link: https://www.econbiz.de/10013142542

Trade and the Global Recession

Eaton, Jonathan - 2011

We develop a dynamic multi-country general equilibrium model to investigate forces acting on the global economy during the Great Recession and ensuing recovery. Our multi-sector framework accounts completely for countries' trade, investment, production, and GDPs in terms of different sets of...

Persistent link: https://www.econbiz.de/10013131675

Globalization, Trade & Wages : What Does History Tell Us About China?

Mitchener, Kris James - 2010

Chinese imports and exports grew rapidly during the first three decades of the twentieth century as China opened up to global trade. Using a new data set on the factor-intensity of traded goods at the industry level, we show that Chinese exports became more unskilled-intensive and imports became...

Persistent link: https://www.econbiz.de/10013148630

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Durdu, Ceyhun Bora - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops since the mid 1990s. Foreign … saving affects foreign assets via three mechanisms: business cycle volatility, financial globalization, and Sudden Stop risk … Irving Fisher's debt-deflation mechanism. Our results show that financial globalization and Sudden Stop risk are plausible …

Persistent link: https://www.econbiz.de/10012776881

Real-Time Real Economic Activity : Exiting the Great Recession and Entering the Pandemic Recession

Diebold, Francis X. - 2020

We study the real-time signals provided by the Aruoba-Diebold-Scotti Index of Business conditions (ADS) for tracking economic activity at high frequency. We start with exit from the Great Recession, comparing the evolution of real-time vintage beliefs to a "final" late-vintage chronology. We...

Persistent link: https://www.econbiz.de/10012826653

Early Evidence on the Impact of COVID-19 and the Recession on Older Workers

Bui, Truc - 2020

We summarize some of the early effects and discuss possible future effects of the COVID-19 pandemic and recession on the employment outcomes of older workers in the United States. We start by discussing what we know about how older workers faired in prior recessions in the United States and how...

Persistent link: https://www.econbiz.de/10012829784

The Macroeconomic Impact of Financial and Uncertainty Shocks

Caldara, Dario - 2016

The extraordinary events surrounding the Great Recession have cast a considerable doubt on the traditional sources of macroeconomic instability. In their place, economists have singled out financial and uncertainty shocks as potentially important drivers of economic fluctuations. Empirically...

Persistent link: https://www.econbiz.de/10012997363

On Measuring the Effects of Fiscal Policy in Recessions

Parker, Jonathan A. - 2011

We do not have a good measure of the effects of fiscal policy in a recession because the methods that we use to estimate the effects of fiscal policy -- both those using the observed outcomes following different policies in aggregate data and those studying counterfactuals in fitted model...

Persistent link: https://www.econbiz.de/10013122216

Capital Controls and Recovery from the Financial Crisis of the 1930s

Mitchener, Kris James - 2014

We examine the first widespread use of capital controls in response to a global or regional financial crisis. In particular, we analyze whether capital controls mitigated capital flight in the 1930s and assess their causal effects on macroeconomic recovery from the Great Depression. We find...

Persistent link: https://www.econbiz.de/10013052499

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