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The "Other" Imbalance and the Financial Crisis
Caballero, Ricardo J. - 2010
the U.S. would experience a sudden stop of capital flows, which would unavoidably drag the world economy into a deep … instead that the root imbalance was of a different kind: The entire world had an insatiable demand for safe debt instruments …. Essentially, the financial sector was able to create "safe" assets from the securitization of lower quality ones, but at the cost …
Persistent link: https://www.econbiz.de/10013149302
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Home Bias in Open Economy Financial Macroeconomics
Coeurdacier, Nicolas - 2011
different types of assets: equities, bonds and bank lending and new micro data on institutional holdings of equity at the fund …
Persistent link: https://www.econbiz.de/10013117208
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Capital Flows and Economic Growth in the Era of Financial Integration and Crisis, 1990-2010
Aizenman, Joshua - 2011
We investigate the relationship between economic growth and lagged international capital flows, disaggregated into FDI, portfolio investment, equity investment, and short-term debt. We follow about 100 countries during 1990-2010 when emerging markets became more integrated into the international...
Persistent link: https://www.econbiz.de/10013119605
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The Financial Crisis and the Geography of Wealth Transfers
Gourinchas, Pierre-Olivier - 2013
This paper studies the geography of wealth transfers during the 2008 global financial crisis. We construct valuation changes on bilateral external positions in equity, direct investment and portfolio debt at the height of the crisis to map who benefited and who lost on their external exposure....
Persistent link: https://www.econbiz.de/10013092491
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The Shifting Drivers of Global Liquidity
Avdjiev, Stefan - 2017
-crisis levels. Conversely, the responsiveness of international bank lending to global risk conditions declined steadily throughout … sensitivity of international bank lending to global risk was mainly driven by increases in the lending shares of better …
Persistent link: https://www.econbiz.de/10012952502
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Capital Flows, Push Versus Pull Factors and the Global Financial Crisis
Fratzscher, Marcel - 2011
The causes of the 2008 collapse and subsequent surge in global capital flows remain an open and highly controversial issue. Employing a factor model coupled with a dataset of high-frequency portfolio capital flows to 50 economies, the paper finds that common shocks - key crisis events as well as...
Persistent link: https://www.econbiz.de/10013121029
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Financial Globalization, Financial Crises and Contagion
Mendoza, Enrique G. - 2010
large asset price spillovers of country-specific shocks to bank capital. The impact of these shocks on asset prices are … amplified by bank capital requirements based on mark-to-market …
Persistent link: https://www.econbiz.de/10013150545
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International Monetary Relations : Taking Finance Seriously
Obstfeld, Maurice - 2017
changing demands for modern central bank interventions in the economy. Financial instability, followed by WWII, left a world … crises,” fueled by bank and bond lending, and its sudden withdrawal. These developments, in fact, made evident a different …
Persistent link: https://www.econbiz.de/10012954933
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Market Integration and Contagion
Bekaert, Geert - 2010
to providing new insights on contagion during crisis periods, we document patterns through time in world and regional …
Persistent link: https://www.econbiz.de/10012762856
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The Unholy Trinity of Financial Contagion
Kaminsky, Graciela; Reinhart, Carmen M.; Vegh, Carlos A. - 2021
Over the last 20 years, some financial events, such as devaluations or defaults, have triggered an immediate adverse chain reaction in other countries -- which we call fast and furious contagion. Yet, on other occasions, similar events have failed to trigger any immediate international reaction....
Persistent link: https://www.econbiz.de/10013221538