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Asset prices and macroeconomic outcomes: A survey

Claessens, Stijn; Kose, M. Ayhan - 2017

This paper surveys the literature on the linkages between asset prices and macroeconomic outcomes. It focuses on three major questions. First, what are the basic theoretical linkages between asset prices and macroeconomic outcomes? Second, what is the empirical evidence supporting these...

Persistent link: https://www.econbiz.de/10012060200

Macroeconomic implications of financial imperfections: A survey

Claessens, Stijn; Kose, M. Ayhan - 2017

This paper surveys the theoretical and empirical literature on the macroeconomic implications of financial imperfections. It focuses on two major channels through which financial imperfections can affect macroeconomic outcomes. The first channel, which operates through the demand side of finance...

Persistent link: https://www.econbiz.de/10012060201

Hysteresis, endogenous growth, and monetary policy

Amador, Sebastián - 2022

I provide evidence of substantial hysteresis (i.e., a situation in which temporary shocks have longrun effects) from monetary shocks on two sources of endogenous growth; human capital and technological adoption. This contribution is the first to test for the presence of this phenomenon in direct...

Persistent link: https://www.econbiz.de/10013467142

The crisis of finance-led capitalism in the United States of America

Evans, Trevor - 2015

This study examines the development of the US economy since the prolonged recession in the early 1980s. This period was characterised by a serious weakening in the bargaining position of waged workers and a major expansion of the financial sector. Most of the economic gains accrued to top...

Persistent link: https://www.econbiz.de/10011282631

The twilight of neoliberalism in the USA?

Evans, Trevor - 2021

The US economic expansion which began in 2009 was unusually prolonged but relatively weak. Profitability and investment strengthened between 2010 and 2015 but then began to falter. After Trump took office in 2017 there was a minor recovery in investment but the proceeds of major tax cuts were...

Persistent link: https://www.econbiz.de/10012483863

Weathering an unexpected financial shock: The role of cash grants on household finance and business survival

Gallagher, Justin; Hartley, Daniel; Rohlin, Shawn - 2019

We estimate the causal effect of cash grants on household finance and business survival following a natural disaster …. Disaster-affected individuals in high damage blocks with access to cash grants have 17% less credit card debt following the … disaster than those without access to cash grants. Grants do not reduce negative financial outcomes, but do decrease migration …

Persistent link: https://www.econbiz.de/10012429404

Cross-country co-movement in long-term interest rates: A DSGE approach

Chin, Michael; Filippeli, Thomai; Theodoridis, Konstantinos - 2015

Long-term interest rates in a number of small-open inflation targeting economies co-move more strongly with US long-term rates than with short-term rates in those economies. We augment a standard small open-economy model with imperfectly substitutable government bonds and time-varying term...

Persistent link: https://www.econbiz.de/10011380979

Business cycles in emerging markets: The role of liability dollarization and valuation effects

Notz, Stefan; Rosenkranz, Peter - 2014

Understanding differences in business cycle phenomena between Emerging Market Economies (EMEs) and industrialized countries has been at the center of recent research on macroeconomic fluctuations. The purpose of this paper is to investigate the importance of certain credit market imperfections...

Persistent link: https://www.econbiz.de/10011282495

Systematic consumption risk in currency returns

Hoffmann, Mathias; Suter, Rahel - 2013

We sort currencies into portfolios by countries' consumption growth over the past year. The excess return of the highest-consumption-growth currency portfolio over the portfolio of lowest-consumption-growth currencies is positive on average, compensating investors for large negative returns...

Persistent link: https://www.econbiz.de/10010316899

Is a global recession imminent?

Guénette, Justin Damien; Kose, M. Ayhan; Sugawara, Naotaka - 2022

Global growth prospects have deteriorated significantly since the beginning of the year, raising the specter of global recession. This paper relies on insights gleaned from previous global recessions to analyze the recent evolution of economic activity and policies and presents plausible...

Persistent link: https://www.econbiz.de/10014541046

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