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provided. We test both hypotheses using calibrated general equilibrium models of the British economy and the rest of the world … trade with the rest of the world, not the American colonies, that allowed Britain to export its rapidly expanding textile …
Persistent link: https://www.econbiz.de/10012771672
The historical frequency of banking crises is quite similar in high- and middle-to-low-income countries, with quantitative and qualitative parallels in both the run-ups and the aftermath. We establish these regularities using a unique dataset spanning from Denmark's financial panic during the...
Persistent link: https://www.econbiz.de/10012765571
This Chartbook provides a pictorial history, on a country-by-country basis, of public debt and economic crises of various forms. It is a timeline of a country's creditworthiness and financial turmoil. The analysis, narrative, and illustrations in Reinhart and Rogoff (2009), This Time is...
Persistent link: https://www.econbiz.de/10013146940
Newly developed long historical time series on public debt, along with modern data on external debts, allow a deeper analysis of the cycles underlying serial debt and banking crises. The evidence confirms a strong link between banking crises and sovereign default across the economic history of...
Persistent link: https://www.econbiz.de/10013147119
We study economic growth and inflation at different levels of government and external debt. Our analysis is based on new data on forty-four countries spanning about two hundred years. The dataset incorporates over 3,700 annual observations covering a wide range of political systems,...
Persistent link: https://www.econbiz.de/10013149089
Interconnections between banking crises and fiscal crises have a long history. We document the long-run evolution from classic banking panics towards modern banking crises where financial guarantees are associated with crisis resolution. Recent crises feature a feedback loop between bank...
Persistent link: https://www.econbiz.de/10012997361
ventures have better export performance than private domestic firms in financially more vulnerable sectors. These results are …
Persistent link: https://www.econbiz.de/10013127980
This paper provides some evidence of the "export overshooting" phenomenon, i.e., the unusually large deviation of … exports from their long-run level. We study the export trends of a sample of 37 countries including both OECD and non …. Moreover, the extent of export overshooting was increasing in more recent crisis, which can be attributed to an increase in …
Persistent link: https://www.econbiz.de/10013128969
relationship between a country's export mix and its wage (GDP per capita). We show that this non-monotonicity permeates the 1980 … and (2) for the poorest third of countries, changes in export mix substantially over-predict growth in GDP per capita …
Persistent link: https://www.econbiz.de/10013129123
To quantify trade frictions, we examine multi-product exporters. We build a flexible general equilibrium model and estimate market entry costs using Brazilian firm-product-destination data under rich demand and market-access cost shocks. Our estimates show that additional products farther from a...
Persistent link: https://www.econbiz.de/10013134907