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This document analyzes the patterns of fiscal and monetary policy in five economies of the Latin American Southern Cone (Argentina, Brazil, Chile, Paraguay and Uruguay) during four episodes of international crises: 1994, 1997-1999, 2001 and 2008. In contrast with earlier episodes when most...
Persistent link: https://www.econbiz.de/10011303276
The 2008-2009 global recession, which originated in developed economies, has rapidly spilled over worldwide, hitting different economies with various intensity. The Macedonian economy was not an exception - the export sector suffered heavily, expectations deteriorated and household consumption...
Persistent link: https://www.econbiz.de/10011671841
. Finally, the predictive accuracy of the HAR-RV model is tested against GARCH specifications using one-step-ahead forecasts …-RV ; GARCH ; Futures Trading ; Emissions Markets ; EU ETS ; Intraday data ; Forecasting …
Persistent link: https://www.econbiz.de/10008840052
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Financial markets are central to the transmission of uncertainty shocks. This paper documents a new aspect of the interaction between the two by showing that uncertainty shocks have radically different macroeconomic implications depending on the state financial markets are in when they occur....
Persistent link: https://www.econbiz.de/10010472852
euro area. We assume that the dynamic coefficients implicitly depend on a measure of the Federal Reserve's policy stance … quantities such as government bond yields and inflation swaps to euro area monetary policy shocks change with the US policy … stance. Scenario-specific impulse responses show that the transmission of euro area monetary policy through financial markets …
Persistent link: https://www.econbiz.de/10014445207
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The theory of established-outsider figurations developed by Norbert Elias is a useful tool for examining deprived neighbourhoods. The case of this paper is Dortmund Nordstadt in Germany, an old inner-city neighbourhood which from its early days has housed the newly arrived immigrants. Elias...
Persistent link: https://www.econbiz.de/10011592952