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The Impacts of Crises on the Trilemma Configurations

Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - National Bureau of Economic Research - 2022

important policy instrument, insuring against liquidity shortages. We find that countries' policy mixes are diverse, and have …

Persistent link: https://www.econbiz.de/10013362059

The Performance of Emerging Markets During The Fed's Easing and Tightening Cycles : A Cross-Country Resilience Analysis

Aizenman, Joshua; Park, Donghyun; Aleem, Irfan; Uddin, … - National Bureau of Economic Research - 2024

We investigate the determinants of emerging markets performance during five U.S. Federal Reserve monetary tightening and easing cycles during 2004-2023. We study how macroeconomic and institutional conditions of an Emerging Market (EM) at the beginning of a cycle explain EM resilience during...

Persistent link: https://www.econbiz.de/10014528343

International Evidence of Strengthening Taxes and Spending For Sustainable Development

Aizenman, Joshua; Jinjarak, Yothin; Hien Nguyen; Park, … - National Bureau of Economic Research - 2021

We trace the linkages between the episodes of fiscal expansion and consolidation in 72 advanced and emerging and developing economies. The findings suggest that fiscal expansions are positively associated with economic growth, which in turn is positively linked with better sustainable...

Persistent link: https://www.econbiz.de/10012794621

Large Fiscal Episodes and Sustainable Development : Some International Evidence

Aizenman, Joshua; Jinjarak, Yothin; Nguyen, Hien Thi Kim; … - National Bureau of Economic Research - 2021

This paper examines the association between episodes of large fiscal impulses (expansions and adjustments) and sustainable development indicators (prosperity, resilience, and inclusivity). We provide country studies of Chile, Poland, South Africa, and Thailand, examining the components of...

Persistent link: https://www.econbiz.de/10012510619

Geopolitical Shocks And Commodity Market Dynamics : New Evidence From The Russian-Ukraine Conflict

Aizenman, Joshua; Lindahl, Robert; Stenvall, David; … - National Bureau of Economic Research - 2023

We investigate the event-based geopolitical shocks from the Russian invasion of Ukraine on selected agricultural and energy commodities using daily event-based structural vector autoregression (SVAR). We find that the geopolitical shock affects the markets of wheat (3%) and European natural gas...

Persistent link: https://www.econbiz.de/10014447271

Fiscal Stimulus and Commercial Bank Lending Under COVID-19

Aizenman, Joshua; Jinjarak, Yothin; Spiegel, Mark - National Bureau of Economic Research - 2022

We investigate the implications of extra-normal government spending under the COVID-19 pandemic for commercial bank lending growth between 2019Q4 and 2020Q4 in a large sample of over 3000 banks from 71 countries. We control for pre-pandemic structural factors, bank characteristics and government...

Persistent link: https://www.econbiz.de/10013172181

Central Bank Swap Arrangements in the COVID-19 Crisis

Aizenman, Joshua; Itō, Hiro; Pasricha, Gurnain Kaur - National Bureau of Economic Research - 2021

) implemented measures to provide US dollar liquidity by reinforcing swap arrangements with five major central banks, reactivating … in March 2020. This paper assesses motivations for the Fed liquidity lines, and the effects and spillovers of US dollar … auctions by central banks, for about 50 economies. We find that the access to the liquidity arrangements is driven by the …

Persistent link: https://www.econbiz.de/10012496139