Showing 1 - 10 of 13
In the aftermath of the financial crisis of 2007 - 2008 (and the resulting Great Recession) policymakers became concerned about a potential long-term effect of the crisis on the wider economy. For instance, in an ECFIN Economic Brief titled "The financial crisis and potential growth: Policy...
Persistent link: https://www.econbiz.de/10009673908
We analyse the relationship between tail risk and crisis measures by governments and the central bank. Using an adjusted Merton model in a game theoretical set-up, the analysis shows that the participation constraint for interventions by the central bank and the governments is less binding if...
Persistent link: https://www.econbiz.de/10010583805
This paper examines which variables have predictive power for financial stress in a sample of 25 OECD countries, using a recently constructed Financial Stress Index (FSI). First, we employ Bayesian model averaging to identify leading indicators of our FSI. Next, we use those indicators as...
Persistent link: https://www.econbiz.de/10013021281
Between the start of the economic and financial crisis in 2008, and early 2010, almost four million jobs were lost in the euro area. Employment began to rise again in the first half of 2011, but declined once more at the end of that year and remains at around three million workers below the...
Persistent link: https://www.econbiz.de/10013100053
We analyse the relationship between tail risk and crisis measures by governments and the central bank. Using an adjusted Merton model in a game theoretical set-up, the analysis shows that the participation constraint for interventions by the central bank and the governments is less binding if...
Persistent link: https://www.econbiz.de/10013089885
Persistent link: https://www.econbiz.de/10009631969
Persistent link: https://www.econbiz.de/10010503366
Persistent link: https://www.econbiz.de/10003391372
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Persistent link: https://www.econbiz.de/10011825565