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Macroeconomic adjustment and the history of crises in open economies

Aizenman, Joshua; Noy, Ilan - In: Journal of International Money and Finance 38 (2013) C, pp. 41-58

This paper investigates the impact of the history of crises on macroeconomic performance. We first study the impact of past banking crises on the probability of a future banking crisis. We do not detect a learning process from past banking crises. Countries that have already experienced one...

Persistent link: https://www.econbiz.de/10010719324

Macroeconomic adjustment and the history of crises in open economies

Aizenman, Joshua; Noy, Ilan - 2012

This paper investigates the impact of the history of crises on macroeconomic performance. We first study the impact of past banking crises on the probability of a future banking crisis. Applying data for 1980 - 2010 for all countries for which the required information is available, controlling...

Persistent link: https://www.econbiz.de/10010369504

Macroeconomic Adjustment and the History of Crises in Open Economies

Aizenman, Joshua; Noy, Ilan - National Bureau of Economic Research (NBER) - 2012

This paper investigates the impact of the history of crises on macroeconomic performance. We first study the impact of past banking crises on the probability of a future banking crisis. Applying data for 1980‐2010 for all countries for which the required information is available, controlling...

Persistent link: https://www.econbiz.de/10010969363

Volatility and the Investment Response

Aizenman, Joshua; Marion, Nancy P. - National Bureau of Economic Research (NBER) - 1996

We use the World Bank decomposition of aggregate investment shares into their private and public components to test for the correlation between volatility and investment in a set of developing countries. We uncover a statistically significant negative correlation between various volatility...

Persistent link: https://www.econbiz.de/10005714050

Macroeconomic adjustment and the history of crises in open economies

Aizenman, Joshua; Noy, Ilan - 2012

is murky, further delaying necessary adjustments of the financial sector. -- Banking crises ; financial openness ; saving …

Persistent link: https://www.econbiz.de/10009669701

Sources for Financing Domestic Capital â€“ is Foreign Saving a Viable Option for Developing Countries?

Aizenman, Joshua; Pinto, Brian; Radziwill, Artur - Economics Department, University of California-Santa … - 2004

tangible capital supported by actual past national saving, relative to the actual stock of capital. We use the constructed …

Persistent link: https://www.econbiz.de/10011130643

Macroeconomic adjustment and the history of crises in open economies

Aizenman, Joshua; Noy, Ilan - School of Economics and Finance, Victoria Business School - 2012

This paper investigates the impact of the history of crises on macroeconomic performance. We first study the impact of past banking crises on the probability of a future banking crisis. Applying data for 1980-2010 for all countries for which the required information is available, controlling for...

Persistent link: https://www.econbiz.de/10011031820

Public and private saving and the long shadow of macroeconomic shocks

Aizenman, Joshua; Noy, Ilan - School of Economics and Finance, Victoria Business School - 2013

. We know that households that lost access to credit, for example, were forced to adjust and increase saving. But, will … this increased saving persist? We also ask similar questions about the public sector’s saving decisions. We study the … degree to which past income crises increase the saving rates of affected households and the public sector. We find evidence …

Persistent link: https://www.econbiz.de/10010904197

Sources for Financing Domestic Capital - is Foreign Saving a Viable Option for Developing Countries?

Aizenman, Joshua; Pinto, Brian; Radziwill, Artur - Santa Cruz Institute for International Economics … - 2004

stock of tangible capital supported by actual past domestic saving, relative to the actual stock of capital. We use the …

Persistent link: https://www.econbiz.de/10010536124

Sources for Financing Domestic Capital - is Foreign Saving a Viable Option for Developing Countries?

Aizenman, Joshua; Pinto, Brian; Radziwill, Artur - Economics Department, University of California-Santa … - 2004

stock of tangible capital supported by actual past domestic saving, relative to the actual stock of capital. We use the …

Persistent link: https://www.econbiz.de/10010536302