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It is well known fact that all good things, as also bad things, come to an end and business cycles pass through good and bad economic times. Economically 2010 was a year of transition from economic recession to recovery. Economies were improving in some countries and industries were showing...
Persistent link: https://www.econbiz.de/10013110884
A growing share of emerging markets (EMs) uses hybrid versions of inflation targeting that differ from the IT regimes of the OECD countries. Real exchange rate and international reserve changes affect the policy interest rates in commodity countries, aiming to stabilize their real exchange rate...
Persistent link: https://www.econbiz.de/10012219537
We develop a model of gross capital flows and analyze their role in global financial stability. In our model, consistent with the data, when a country experiences asset fire sales, foreign investments exit (fickleness) while domestic investments abroad return home (retrenchment). When countries...
Persistent link: https://www.econbiz.de/10011573237
We introduce external risks, in the form of shocks to the level and volatility of world interest rates, into a small …
Persistent link: https://www.econbiz.de/10011779580
The paper provides an explanation of the mechanisms underlying trade roots of the contagion effects emanating from the recent turmoils. It is argued that under demand uncertainty risk averse behavior of firms provides a basis for international trade. The paper shows by means of a simple...
Persistent link: https://www.econbiz.de/10013153132
The global financial crises have had severe impact on various financial markets and the world economies at large. At … impacts of country governance on world economies at large …
Persistent link: https://www.econbiz.de/10012909952
This paper proposes network entropy as a tool for measuring diversity of highly connected financial networks. The computation of network entropy hinges on eigenvector centrality and Shannon entropy. Two policy-related findings emerge from this research. First, regarding time variation of network...
Persistent link: https://www.econbiz.de/10013026008
This paper seeks to fill a gap in the literature on frontier market economies (FMEs) with the following two research questions: (i) Which are the drivers of FMEs' integration into financial globalisation? (ii) What explains the greater vulnerability of FMEs compared to emerging market economies...
Persistent link: https://www.econbiz.de/10014433727
. After the global crisis of 2008-2009, the world economy entered the era of restructuring. This article focuses on the … risks that a new leader will face in the process of shaping the world economy. The methods employed in the research include … combination of world financial system crises and general civilization problems. These new systemic risks for the world economy …
Persistent link: https://www.econbiz.de/10012168948
in each region and devise counter policy measures against future idiosyncratic shocks. In the last decade, world dynamics …
Persistent link: https://www.econbiz.de/10013038855