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The financial cycle and macroeconomics: What have we learnt?
Borio, Claudio - In: Journal of Banking & Finance 45 (2014) C, pp. 182-198
It is high time we rediscovered the role of the financial cycle in macroeconomics. In the environment that has prevailed for at least three decades now, it is not possible to understand business fluctuations and the corresponding analytical and policy challenges without understanding the...
Persistent link: https://www.econbiz.de/10010943190
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The great mortgaging : housing finance, crises, and business cycles
Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - 2014
17 advanced economies since 1870. The new data show that the share of mortgages on banks’ balance sheets doubled in the …
Persistent link: https://www.econbiz.de/10010412763
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The General Theory as "depression economics"? : financial instability and crises in Keynes's monetary thought
Bibow, Jörg - 2020
This paper revisits Keynes's writings from Indian Currency and Finance (1913) to The General Theory (1936) with a focus on financial instability. The analysis reveals Keynes's astute concerns about the stability/fragility of the banking system, especially under deflationary conditions. Keynes's...
Persistent link: https://www.econbiz.de/10012291986
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Oil price rise and the Great Recession of 2008
Monadjemi, Mehdi S. - In: Expert journal of economics 5 (2017) 1, pp. 14-19
The financial crises of 2007-2008, caused wide-spread falling output and unemployment, in the affected countries and also globally. The severity of the recession was such that it was called the "Great Recession". As a result of an increase in demand from China and India, at the same time, oil...
Persistent link: https://www.econbiz.de/10012062628
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Business cycles and the balance sheets of the financial and non-financial sectors
Villacorta, Alonso - 2018
banks' and firms' balance sheets in real activity. The net worth of firms determines their borrowing capacity both from … households and banks. Banks provide risky loans to multiple firms and use their diversified portfolio as collateral to borrow … from households. This intermediation process allows additional funds to flow from households to firms. Banks require net …
Persistent link: https://www.econbiz.de/10011848362
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The impact of macroeconomic factors on the German stock market : evidence for the crisis, pre- and post-crisis periods
Celebi, Kaan; Hönig, Michaela - In: International Journal of Financial Studies : open … 7 (2019) 2/18, pp. 1-13
Today we live in a post-truth and highly digitalized era characterized by a flow of (mis-) information around the world. Identifying the impact of this information on stock markets and forecasting stock returns and volatilities has become a much more difficult task, perhaps almost impossible....
Persistent link: https://www.econbiz.de/10012039605
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O.M.W. Sprague (the man who "wrote the book” on financial crises) meets the Great Depression
Rockoff, Hugh - In: Jahrbuch für Wirtschaftsgeschichte 63 (2022) 2, pp. 527-557
When the Great Depression struck the United States, O.M.W. Sprague was America's foremost expert on financial crises. His History of Crises under the National Banking System is a frequently cited classic. Had he diagnosed a banking panic and called for an aggressive response by the Federal...
Persistent link: https://www.econbiz.de/10013447677
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Business Cycle with Bank Intermediation in Oil Economies
Tabarraei, Hamid - 2018
The structural model in this paper proposes a micro-founded framework that incorporates an active banking sector with an oil-producing sector. The primary goal of adding a banking sector is to examine the role of an interbank market on shocks, introduce a national development fund and study its...
Persistent link: https://www.econbiz.de/10012907946
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Financial Soundness Indicators and the Characteristics of Financial Cycles
Che, Natasha - 2014
Better “financial soundness” of banks could help mitigate the volatility of financial cycles by reducing banks' risk … regulating changes in banks' FSIs …
Persistent link: https://www.econbiz.de/10013058441
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Theory and evidence on the finance-growth relationship : the virtuous and unvirtuous cycles
Lauretta, Eliana; Chaudhry, Sajid M.; Mullineux, Andrew W. - 2016
Since the 1980s, financial crises have tended to reoccur with increasing frequency and growing intensity. They are endogenously generated by the established OTD (Originate-To-Distribute) model within the new finance-growth paradigm. Good finance fosters the correct allocation of financial...
Persistent link: https://www.econbiz.de/10012010378