Similar Search Results

Davis, Steven J. - 2019

-based measures. Examples from countries around the world illustrate the role of political and policy developments as drivers of …

Persistent link: https://www.econbiz.de/10012480187

An Index of Global Economic Policy Uncertainty

Davis, Steven J. - 2016

Building on Baker, Bloom and Davis (2016), I construct a monthly index of Global Economic Policy Uncertainty (GEPU) from January 1997. The GEPU Index is a GDP-weighted average of national EPU indices for 16 countries that account for two-thirds of global output. Each national EPU index reflects...

Persistent link: https://www.econbiz.de/10012455940

The Economic Effects of Private Equity Buyouts

Davis, Steven J. - 2019

We examine thousands of U.S. private equity (PE) buyouts from 1980 to 2013, a period that saw huge swings in credit market tightness and GDP growth. Our results show striking, systematic differences in the real-side effects of PE buyouts, depending on buyout type and external conditions....

Persistent link: https://www.econbiz.de/10012480316

Precaution Versus Mercantilism : Reserve Accumulation, Capital Controls, and the Real Exchange Rate

Choi, Woo Jin - 2017

We document a new international stylized fact describing the relationship between real exchange rates and external asset holdings. Economists have long argued that the real exchange rate is associated with the net international investment position, appreciating as external wealth increases. This...

Persistent link: https://www.econbiz.de/10012455340

The Time for Austerity : Estimating the Average Treatment Effect of Fiscal Policy

Jordà, Òscar - 2013

After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...

Persistent link: https://www.econbiz.de/10012459247

On the Gains to International Trade in Risky Financial Assets

Davis, Steven J. - 2000

enormous gains to trade when asset returns are calibrated to observed risk premia and all agents participate in asset markets …. The gains-to-trade puzzle is closely related to, but distinct from, the equity premium puzzle. High risk aversion merely … both puzzles. We also identify three reasons for limited international risk sharing. First, the requirement that asset …

Persistent link: https://www.econbiz.de/10012470954

What Triggers Stock Market Jumps?

Baker, Scott; Bloom, Nicholas; Davis, Steven J.; … - National Bureau of Economic Research - 2021

We examine next-day newspaper accounts of large daily jumps in 16 national stock markets to assess their proximate cause, clarity as to cause, and the geographic source of the market-moving news. Our sample of 6,200 market jumps yields several findings. First, policy news - mainly associated...

Persistent link: https://www.econbiz.de/10012510565

Trade, Technology, and the Great Divergence

O'Rourke, Kevin Hjortshøj - 2019

Why did per capita income divergence occur so dramatically during the 19th Century, rather than at the outset of the Industrial Revolution? How were some countries able to reverse this trend during the globalization of the late 20th Century? To answer these questions, this paper develops a...

Persistent link: https://www.econbiz.de/10012479692

After the Panic : Are Financial Crises Demand or Supply Shocks? Evidence from International Trade

Benguria, Felipe - 2019

Are financial crises a negative shock to demand or a negative shock to supply? This is a fundamental question for both macroeconomics researchers and those involved in real-time policymaking, and in both cases the question has become much more urgent in the aftermath of the recent financial...

Persistent link: https://www.econbiz.de/10012479740

Elections, Political Polarization, and Economic Uncertainty

Baker, Scott R. - 2020

We examine patterns of economic policy uncertainty (EPU) around national elections in 23 countries. Uncertainty shows a clear tendency to rise in the months leading up to elections. Average EPU values are 13% higher in the month of and the month prior to an election than in other months of the...

Persistent link: https://www.econbiz.de/10012482181