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A search-based neoclassical model of capital reallocation

Dong, Feng; Wang, Pengfei; Wen, Yi - 2018 - This version: July, 2018

As a form of investment, the importance of capital reallocation between firms has been increasing over time, with the purchase of used capital accounting for 25% to 40% of firms total investment nowadays. Cross- firm reallocation of used capital also exhibits intriguing business-cycle...

Persistent link: https://www.econbiz.de/10011911555

Is the Eurozone on the mend? : Latin American examples to analyze the euro question

Cavallo, Eduardo A.; Fernández Arias, Eduardo; Powell, … - 2014

Several European countries face challenges reminiscent of those faced by the emerging economies of Latin America. The economic booms in some peripheral Euro-zone countries financed by large capital inflows; the credit and asset price booms and then the busts including Sudden Stops in capital...

Persistent link: https://www.econbiz.de/10011286667

Uncertainty and economic activity : a global perspective

Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2014

The 2007-2008 global financial crisis and the subsequent anemic recovery have rekindled academic interest in quantifying the impact of uncertainty on macroeconomic dynamics. This paper studies the interrelation between financial markets volatility and economic activity assuming that both...

Persistent link: https://www.econbiz.de/10011286232

Emerging markets bond index performance and sovereign default : the case of Ecuador

Zanoni, Wladimir; Díaz, Emily; Paredes, Jorge; … - 2024

This paper delves into the dynamic impact of Ecuador's 2008 sovereign debt default on the subsequent performance of the country's bonds, specifically as measured by the Emerging Markets Bond Index (EMBI). Through a blend of qualitative and quantitative analyses, the paper develops a framework...

Persistent link: https://www.econbiz.de/10014529939

Tax revolts and sovereign defaults

Arce, Fernando; Morgan, Jan; Werquin, Nicolas - 2025

Political crises often coincide with fiscal crises, with complex causal dynamics at play. We examine the interaction between tax revolts and sovereign risk using a quantitative structural model calibrated to Argentina. In the model, the government can be controlled by political parties with...

Persistent link: https://www.econbiz.de/10015413438

On corporate borrowing, credit spreads and economic activity in emerging economies : an empirical investigation

Caballero, Julián; Fernández, Andrés; Park, Jongho - 2016

This paper studies the influence of external financial factors on economic activity in emerging economies (EMEs) motivated by a considerable increase in foreign financing by the corporate sector in EMEs since the early 2000s, mainly in the form of bond issuance. A quarterly external financial...

Persistent link: https://www.econbiz.de/10011519092

Bridging the gap : mobilization of multilateral development banks in infrastructure

Avellán, Leopoldo; Galindo Andrade, Arturo José; … - 2022

We explore how Multilateral Development Banks (MDBs) can help to fill a large infrastructure financing gap in developing countries by indirectly mobilizing resources from other entities. The analysis focuses on more than 6,500 transactions in 2005-2020 to developing and emerging markets from the...

Persistent link: https://www.econbiz.de/10014497279

Financial conditions and density forecasts for US output and inflation

Alessandri, Piergiorgio; Mumtaz, Haroon - 2014

sent a credible advance warning ahead of the Great Recession. Furthermore, the discrepancies between models are themselves …

Persistent link: https://www.econbiz.de/10010339756

Fintech entry, firm financial inclusion, and macroeconomic dynamics in emerging economies

Finkelstein Shapiro, Alan; Mandelman, Federico S.; … - 2022

Financial inclusion is strikingly low in emerging economies. In only a few years, financial technologies (fintech) have led to a dramatic expansion in the number of non-traditional credit intermediaries, but the macroeconomic and credit-market implications of this rapid growth of fintech are not...

Persistent link: https://www.econbiz.de/10014516215

Consumption in the Great Recession : the financial distress channel

Athreya, Kartik B.; Mather, Ryan; Mustre-del-Río, José; … - 2019

During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house … to the decline in income during the recession, and (2) at the zip-code level, the prevalence of financial distress prior … to the recession was positively correlated with house-price declines at the onset of the recession. Using a rich …

Persistent link: https://www.econbiz.de/10012137091