Showing 1 - 10 of 7,694
and capital flow volatility is the factor that creates a climate conducive to the emergence of the crisis in the USA and … led to its spread to the rest of the world. On the theoretical side, we show that capital flows to the United States in … financial integration can lead to financial crises by increasing the volatility of capital flows. …
Persistent link: https://www.econbiz.de/10011308147
Persistent link: https://www.econbiz.de/10013435239
While the 2008-2009 fi nancial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and fi nancial markets, what can account...
Persistent link: https://www.econbiz.de/10009751195
While the 2008-2009 financial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and financial markets, what can account...
Persistent link: https://www.econbiz.de/10010222107
large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify …
Persistent link: https://www.econbiz.de/10012920861
segmentation of domestic markets from international ones. Crises affect financial integration by generating more volatility in the …
Persistent link: https://www.econbiz.de/10003855387
Although emerging market and developing economies (EMDEs) weathered the global recession a decade ago relatively well, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the room for monetary and fiscal policies to respond to...
Persistent link: https://www.econbiz.de/10012175348
Business cycle correlations are state-dependent and higher in recessions than in expansions. In this paper, I suggest a mechanism to explain why this is the case. For this purpose, I build an international real business cycle model with occasionally binding constraints on capacity utilization...
Persistent link: https://www.econbiz.de/10012928657
Persistent link: https://www.econbiz.de/10012224956
The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 … internationally, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off …
Persistent link: https://www.econbiz.de/10012230745