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Macro prudential Policies and Financial Stability
Hughes Hallett, Andrew; Libich, Jan; Stehlík, Petr - Department of Economics and Finance, La Trobe Business … - 2009
cause financial instability, such as housing or asset bubbles, overextended budgetary policies, or excessive public and … imbalances (bubbles) can occur in the medium-run. Considering several scenarios with both benevolent and idiosyncratic policy …
Persistent link: https://www.econbiz.de/10010615392
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PUBLIC FINANCES CRISES WITHIN THE COUNTRIES OF PIIGS GROUP
GÓRNIEWICZ, GRZEGORZ - In: JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA (2011)
The world financial crisis, started by the collapse of the mortgage market in USA, gave rise to the deterioration of public finances in many European countries. The countries on which the impact was strong are Portugal, Ireland, Italy, Greece and Spain (or PIIGS). Already during 2010, Greece and...
Persistent link: https://www.econbiz.de/10010838280
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Signaling asset price bubbles with time-series methods
Taipalus, Katja - Suomen Pankki - 2012
This paper provides an early warning indicator for bubbles in financial markets. The indicator is based on traditional … consensus bubbles and gives warning signals well ahead of the crash, in most cases as early as 12 months ahead. The indicator … also signals most of the 'negative bubbles' before their turning points. …
Persistent link: https://www.econbiz.de/10010611666
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Detecting asset price bubbles with time-series methods
Taipalus, Katja - Suomen Pankki - 2012
conventional unit root tests in modified forms can be used to construct early warning indicators for bubbles in financial markets … 1871, they are able to signal most of the consensus bubbles, defined as stock market booms for example by the IMF, and they … bubbles from the data. Finally, these early warning indicators are applied to data for several housing markets. In most of the …
Persistent link: https://www.econbiz.de/10010818810
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Poate contribui la stabilitatea financiară o bancă de importanţă sistemică având capital autohton?
Nicolae, Dănilă - In: Revista OEconomica (2011) 04
In the current framework outlined by Eurozone crisis effects, by the high level of debt service starting next year and by the Romanian banking system outlook, our country needs actions and solutions at national level, resorting firstly to domestic resources and to our intellectual ability,...
Persistent link: https://www.econbiz.de/10010965588
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Economic Policy out of the Corridor. Reflections on the Global Crisis and the Latin American Experience
Fanelli, José María - In: Ensayos Económicos 1 (2009) 53-54, pp. 73-105
These notes examine the international crisis by analyzing it through Latin American lenses. The exercise consists in interpreting some key facts of the current global crisis in the light of what we know about volatility, crisis and stabilization policies in Latin America. The exercise has an...
Persistent link: https://www.econbiz.de/10010849657
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Monetary Policy Under Uncertainty, Regime Change and High Volatility
Basco, Emiliano; Castagnino, Tomás; Katz, Sebastián; … - Banco Central de la República Argentina - 2007
Economic policy usually faces a number of risks and uncertainties, as a byproduct of the changing nature of signals, the economic structure, the interaction of aggregate variables, the mutations in the behavior of economic agents and their reaction to policy decisions. It is generally...
Persistent link: https://www.econbiz.de/10010849673
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Financial Stress Indicator Variables and Monetary Policy in South Africa
Raputsoane, Leroi - Economic Research Southern Africa (ERSA) - 2014
This paper analyses the relationship between financial stress indicator variables and monetary policy in South Africa with emphasis on how robust these variables are related to the monetary policy interest rate. The financial stress indicator variables comprise a set of variables from the main...
Persistent link: https://www.econbiz.de/10010888681
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Un external compact per rilanciare l'Europa
Bagnai, Alberto - Associazione Italiana per lo Studio delle asimmetrie … - 2014
La crisi dell’Eurozona è ormai certificata dalla sua performance estremamente deludente in seguito allo shock esterno provocato dalla crisi dei subprime. La richiesta di un ridisegno delle regole è unanime, e in parte già accolta dalle stesse istituzioni europee. La diagnosi sulle cause...
Persistent link: https://www.econbiz.de/10010908116
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Information Acquisition in Rumor Based Bank Runs
He, Zhiguo; Manela, Asaf - National Bureau of Economic Research (NBER) - 2012
We study information acquisition and dynamic withdrawal decisions when a spreading rumor exposes a solvent bank to a run. Uncertainty about the bank's liquidity and potential failure motivates depositors who hear the rumor to acquire additional noisy signals. Depositors with less informative...
Persistent link: https://www.econbiz.de/10010951353