This study investigates the impact of global crisis shocks on India’s trade and industry. We use both panel data modeling and vector autoregression techniques to understand the dynamic effects of global crisis shocks on Indian industry and trade. The estimated results of...

This study investigates the impact of global crisis shocks on India’s trade and industry. We use both panel data modeling and vector autoregression techniques to understand the dynamic effects of global crisis shocks on Indian industry and trade. The estimated results of...

The central objective of this paper is to empirically assess how global imbalances have evolved since the global financial crisis of 2008/09. More specifically, we examine how the security investment positions of major East Asian economies in United States (US) financial markets—equities,...

Emerging market economies were major beneficiaries of the economic boom before 2007. More recently, they have become victims of the global financial crisis. Their future development depends, to a large extent, on global economic prospects. Today the global economy and the European economy are...

It is commonplace to link neoclassical economics to 18th- or 19th-century physics and its notion of equilibrium, of a pendulum once disturbed eventually coming to rest. Likewise, an economy subjected to an exogenous shock seeks equilibrium through the stabilizing market forces unleashed by the...

Global financial market activity refers to the transactions and financial flows that occur within bond, equity, derivatives, banking, and exchange rate markets around the world. The importance of the globalization of financial markets lies in the fact that the financing process is an integral...

The paper lays out an analytical framework for understanding crises in emerging markets based on examination of stock variables in the aggregate balance sheet of a country and the balance sheets of its main sectors (assets and liabilities). It focuses on the risks created by maturity, currency,...

This paper analyzes the conflicting explanations of the global imbalances’ pattern and the size of the US external deficit. In this document, it is argued that, far from being incompatible, the explanations suggested are part of a broader story. The drop of the US saving rate has played a...

Les 8 et 9 décembre 2011, une conférence sur les politiques budgétaire et monétaire à la suite de la crise financière a été organisée à Paris par la Banque de France en collaboration avec la Paris School of Economics, le Euro Area Business Cycle Network et The Economic Journal. Elle a...

La crise financière a durablement transformé l’environnement économique mondial et stimulé de nombreuses études sur ses causes et ses canaux de transmission, qui ont été présentées lors d’une conférence organisée par la Banque de France, PSE et le FMI.