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Global Shocks, Institutional Development, and Trade Restrictions : What Can We Learn from Crises and Recoveries Between 1990 and 2022?

Aizenman, Joshua; Itō, Hiro; Park, Donghyun; Saadaoui, … - National Bureau of Economic Research - 2025

The Global Financial Crisis and the COVID-19 pandemic were two major shocks to the world economy in the 21st century. In this study, we analyze the patterns of recessions and recoveries of 101 advanced and developing economies. We identify the turning points of recessions and expansions between...

Persistent link: https://www.econbiz.de/10015409788

The Resilience of Central, Eastern and Southeastern Europe (CESEE) Countries During ECB's Monetary Cycles

Aizenman, Joshua; Saadaoui, Jamel - National Bureau of Economic Research - 2024

variables influence cross-country resilience regarding exchange rates, interest rates, stock prices, inflation, and growth …-2023. Cross-sectional regressions reveal that limiting inflation, active management of precautionary buffers of international … variables for financial development, central bank independence, and the inflation rate preceding the cycles. These findings may …

Persistent link: https://www.econbiz.de/10015072898

Fiscal fragility: what the past may say about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the increase in stock of public debt/GDP induced by the global recession, to include the perspective that the sustainability of a given public debt/GDP depends on...

Persistent link: https://www.econbiz.de/10010287758

Fiscal fragility: What the past says about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

The end of the great moderation has profound implications on the assessment of fiscal sustainability. The pertinent issue goes beyond the obvious increase in the stock of public debt/GDP induced by the global recession, to include the neglected perspective that the vulnerabilities associated...

Persistent link: https://www.econbiz.de/10010288164

Fiscal fragility : what the past says about the future

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

Persistent link: https://www.econbiz.de/10008689002

Fiscal fragility: what the past may say about the future/ Joshua Aizenman and Gurnain Kaur Pasricha

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010

Persistent link: https://www.econbiz.de/10008698949

Global imbalances: Is Germany the new China? A skeptical view

Sengupta, Rajeswari; Aizenman, Joshua - 2010

In this paper we evaluate the current account patterns of China and Germany. We point out that China's current account surplus as a share of global GDP in recent years resembles that of Germany’s. Yet, an important difference is that the Euro block’s current account inclusive of Germany, has...

Persistent link: https://www.econbiz.de/10015223494

Why do emerging markets liberalize capital outflow controls? Fiscal versus net capital flow concerns

Aizenman, Joshua; Pasricha, Gurnain Kaur - 2013

In this paper, we provide empirical evidence on the factors that motivated emerging economies to change their capital outflow controls in recent decades. Liberalization of capital outflow controls can allow emerging-market economies (EMEs) to reduce net capital inflow (NKI) pressures, but may...

Persistent link: https://www.econbiz.de/10010319621

From the great moderation to the global crisis: Exchange market pressure in the 2000s

Aizenman, Joshua; Lee, Jaewoo; Sushko, Vladyslav - 2010

This paper investigates the factors explaining exchange market pressures (EMP) and the hoarding and use of international reserves (IR) by emerging markets during the 2000s, as the Great Moderation turned to the 2008-9 global crisis and great recession. According to our results, both financial...

Persistent link: https://www.econbiz.de/10010333066

Real estate valuation, current account, and credit growth patterns before and after the 2008 - 2009 crisis

Aizenman, Joshua; Jinjarak, Yothin - 2013

This paper explores the stability of the key conditioning variables accounting for real estate valuation before and after the crisis of 2008 - 2009, in a panel of 36 countries, for the period of 2005:I - 2012:IV, recognizing the incidence of global financial crisis. Our paper validates the...

Persistent link: https://www.econbiz.de/10010397239