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Global economic crisis 2007–2010: Is it really so recent? Implications for the future from the lessons of economic history
Salavrakos, Ioannis-Dionysios - In: International Journal of Economics and Business Research 3 (2011) 6, pp. 655-683
This paper demonstrates that the current economic crisis has its roots in the evolution of the global economy during the 1960s. The gradual increase of US debt from the 1960s accompanied by the deficit in the US trade balance due to international competition from EU, Japan, and later from China...
Persistent link: https://www.econbiz.de/10009352458
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Output sustainability to exogenous and endogenous shocks: evidence from emerging economies
Belitski, Maksim; Peliova, Jana - In: International Journal of Sustainable Economy 3 (2011) 3, pp. 255-280
This paper studies the impact of exogenous and endogenous shocks (exogenous shock is used interchangeably with external … shock; endogenous shock is used interchangeably with domestic shock) on output fluctuations in post-communist countries …) across the countries. Impulse response functions show that exogenous positive shock lead to a drop in output sustainability …
Persistent link: https://www.econbiz.de/10009352630
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Wealth of recent immigrants to the USA
Ketkar, Suhas L.; Dora, Manoj K. - In: International Journal of Economic Policy in Emerging … 4 (2011) 4, pp. 330-344
Immigrants Survey data to determine the wealth accumulation and assets diversification of recent immigrants to the USA from …
Persistent link: https://www.econbiz.de/10009352856
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Test of the J-curve for six selected new EU countries
Hsing, Yu - In: International Journal of Economic Policy in Emerging … 2 (2009) 1, pp. 76-85
, or Slovenia and the USA. This paper finds that the J-curve is not empirically confirmed for any of these six countries …. Instead, after a shock to real depreciation, the trade balance improves for the Czech Republic, deteriorates for Hungary …
Persistent link: https://www.econbiz.de/10008563443
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Test of the J-curve for six selected new EU countries
Hsing, Yu - In: International Journal of Economic Policy in Emerging … 2 (2009) 1, pp. 76-85
, or Slovenia and the USA. This paper finds that the J-curve is not empirically confirmed for any of these six countries …. Instead, after a shock to real depreciation, the trade balance improves for the Czech Republic, deteriorates for Hungary …
Persistent link: https://www.econbiz.de/10005048826
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Financial Crisis, Unconventional Monetary Policy and International Spillovers
Chen, Qianying; Filardo, Andrew; He, Dong; Zhu, Feng - Hong Kong Institute for Monetary Research (HKIMR), … - 2014
This paper studies the effects of unconventional monetary policies in the major advanced economies. We first examine the cross-border financial market impact of central bank announcements of asset purchase programmes based on event studies. We find marked effects, as expansionary balance sheet...
Persistent link: https://www.econbiz.de/10010938735
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Financial crisis, US unconventional monetary policy and international spillovers
Chen, Qianying; Filardo, Andrew; He, Dong; Zhu, Feng - Bank for International Settlements (BIS) - 2015
We study the impact of US quantitative easing (QE) on both the emerging and advanced economies, estimating a global vector error correction model (GVECM). We focus on the effects of reductions in the US term and corporate spreads. The estimated effects of QE are sizeable and vary across...
Persistent link: https://www.econbiz.de/10011210512
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Unconventional Monetary Policy and Long-Term Interest Rates
Wu, Tao - International Monetary Fund (IMF) - 2014
This paper examines the transmission mechanism through which unconventional monetary policy affects long-term interest rates. I construct a real-time measure summarizing market projections of the magnitude and duration of the Federal Reserve's Large Scale Asset Purchases (LSAP) program, and...
Persistent link: https://www.econbiz.de/10010959464
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Global corporate bond issuance: what role for US quantitative easing?
Lo Duca, Marco; Nicoletti, Giulio; Vidal Martinez, Ariadna - European Central Bank - 2014
The paper investigates the impact of US quantitative easing (QE) on global non-financial corporate bond issuance. It distinguishes between two QE instruments, MBS/GSE debt and Treasury bonds, and disentangles between two channels of transmission of QE to global bond markets, namely flow effects...
Persistent link: https://www.econbiz.de/10010753743
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On the international spillovers of US quantitative easing
Fratzscher, Marcel; Lo Duca, Marco; Straub, Roland - European Central Bank - 2013
The paper analyses the global spillovers of the Federal Reserve’s unconventional monetary policy measures. First, we find that Fed measures in the early phase of the crisis (QE1) were highly effective in lowering sovereign yields and raising equity markets, especially in the US relative to...
Persistent link: https://www.econbiz.de/10010686827