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The Great Recession: a self-fulfilling global panic
Bacchetta, Philippe; Van Wincoop, Eric - 2013
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
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Exposure to international crises : trade vs. financial contagion
Grant, Everett - 2016
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10011975657
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The Great Recession : a self-fulfilling global panic
Bacchetta, Philippe; Van Wincoop, Eric - 2013
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
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Exposure to International Crises : Trade vs. Financial Contagion
Grant, Everett - 2017
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10012968486
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Exposure to International Crises : Trade vs. Financial Contagion
Grant, Everett - 2016
through them. The results suggest credit disruption as the primary contagion driver, rather than the trade channel. Given this … substantial degree of financial contagion, I run a series of counterfactuals studying the efficacy of capital controls and find … that they would be a useful tool for preventing similarly severe contagion in the future, as long as there is not capital …
Persistent link: https://www.econbiz.de/10013003813
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Exposure to International Crises : Trade vs. Financial Contagion
Grant, Everett - 2021
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10013248855
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The Great Recession and a missing generation of exporters
Lincoln, William F.; McCallum, Andrew H.; Siemer, Michael - 2017
The collapse of international trade surrounding the Great Recession has garnered significant attention. This paper studies firm entry and exit in foreign markets and their role in the post-recession recovery of U.S. exports using confidential microdata from the U.S. Census Bureau. We find that...
Persistent link: https://www.econbiz.de/10011803263
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The macroeconomic effects of international uncertainty
Crespo Cuaresma, Jesús; Huber, Florian; Onorante, Luca - 2019
This paper proposes a large-scale Bayesian vector autoregression with factor stochastic volatility to investigate the macroeconomic consequences of international uncertainty shocks in G7 countries. The curse of dimensionality is addressed by means of a global-local shrinkage prior that mimics...
Persistent link: https://www.econbiz.de/10012037349
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Good news is bad news : leverage cycles and sudden stops
Akinci, Ozge; Chahrour, Ryan - 2015
We show that a model with imperfectly forecastable changes in future productivity and an occasionally binding collateral constraint can match a set of stylized facts about "sudden stop" events. "Good" news about future productivity raises leverage during times of expansion, increasing the...
Persistent link: https://www.econbiz.de/10011338832
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Good News Is Bad News : Leverage Cycles and Sudden Stops
Akinci, Ozge - 2015
We show that a model with imperfectly forecastable changes in future productivity and an occasionally binding collateral constraint can match a set of stylized facts about “sudden stop” events. “Good” news about future productivity raises leverage during times of expansion, increasing...
Persistent link: https://www.econbiz.de/10013014942