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Would a Stricter Fed Policy and Financial Regulation Have Averted the Financial Crisis?
Gokhale, Jagadeesh - 2009
Many commentators have argued that if the Federal Reserve had followed a stricter monetary policy earlier this decade when the housing bubble was forming, and if Congress had not deregulated banking but had imposed tighter financial standards, the housing boom and bust - and the subsequent...
Persistent link: https://www.econbiz.de/10013155688
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Which financial frictions? : parsing the evidence from the financial crisis of 2007-09
Adrian, Tobias; Colla, Paolo; Shin, Hyun Song - 2011
The financial crisis of 2007-09 has sparked keen interest in models of financial frictions and their impact on macro activity. Most models share the feature that borrowers suffer a contraction in the quantity of credit. However, the evidence suggests that although bank lending contracted during...
Persistent link: https://www.econbiz.de/10009411381
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Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-09
Adrian, Tobias - 2012
The financial crisis of 2007-09 has sparked keen interest in models of financial frictions and their impact on macro activity. Most models share the feature that borrowers suffer a contraction in the quantity of credit. However, the evidence suggests that although bank lending contracted during...
Persistent link: https://www.econbiz.de/10013113163
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The Impact of US Financial Uncertainty Shocks on Emerging Market Economies : An International Credit Channel
Choi, Sangyup - 2016
I document that US financial uncertainty shocks, measured by an unexpected increase in VIX, have a substantial impact … propagation mechanism of US financial uncertainty shocks to EMEs. I augment a boom-bust cycle model of EMEs by Schneider and … EMEs - to satisfy their Value-at-Risk constraints - in response to uncertainty shocks, borrowing costs increase and …
Persistent link: https://www.econbiz.de/10012980162
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Towards an Operational Framework for Financial Stability : 'Fuzzy' Measurement and Its Consequences
Borio, Claudio E. V. - 2013
Over the last decade or so, addressing financial instability has become a policy priority. Despite the efforts made, policymakers are still a long way from developing a satisfactory operational framework. A major challenge complicating this task is the "fuzziness" with which financial...
Persistent link: https://www.econbiz.de/10013095700
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The Great Recession versus the Great Depression: stylized facts on siblings that were given different foster parents
Aiginger, Karl - 2010
This paper compares the depth of the Recent Crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the Recent Crisis leveled off in mid-2009 for production and...
Persistent link: https://www.econbiz.de/10010299944
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The Great Recession vs. the Great Depression: Stylized facts on siblings that were given different foster parents
Aiginger, Karl - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-18, pp. 1-41
This paper compares the depth of the recent crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the recent crisis leveled off in mid-2009 for production and...
Persistent link: https://www.econbiz.de/10010300368
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The Great Recession versus the Great Depression : stylized facts on siblings that were given different foster parents
Aiginger, Karl - 2010
This paper compares the depth of the Recent Crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the Recent Crisis leveled off in mid-2009 for production and...
Persistent link: https://www.econbiz.de/10003933133
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The Great Recession vs. the Great Depression : stylized facts on siblings that were given different foster parents
Aiginger, Karl - 2010
This paper compares the depth of the recent crisis and the Great Depression. We use a new data set to compare the drop in activity in the industrialized countries for seven activity indicators. This is done under the assumption that the recent crisis leveled off in mid-2009 for production and...
Persistent link: https://www.econbiz.de/10003966054
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Crises in Asia : recovery and policy responses
Hong, Kiseok; Hsiao Chink Tang - 2010
The goal of this paper is to provide stylized facts on recovery from economic downturns and to evaluate the role of macroeconomic policies in promoting recovery. In particular, we examine gross domestic product (GDP) recessions and financial downturns (credit contractions and stock price...
Persistent link: https://www.econbiz.de/10011283446