Showing 1 - 10 of 353
This paper takes stock of the global economic recovery a decade after the 2008 financial crisis. Output losses after the crisis appear to be persistent, irrespective of whether a country suffered a banking crisis in 2007-08. Sluggish investment was a key channel through which these losses...
Persistent link: https://www.econbiz.de/10012869286
The prevailing narrative about the Great Recession is that it was caused by a financial crisis. This paper refutes that explanation and offers an alternative, namely that issuance of bad government debt played a key role in escalating a regular recession to an economic crisis
Persistent link: https://www.econbiz.de/10013013714
This paper explores episodes of financial crises and recessions experienced by the economies in Southeast Asia: the global debt crisis and the commodity price collapse in the 1980s, the Asian financial crisis in the 1990s, and the burst of the dot-com bubble and the global financial crisis in...
Persistent link: https://www.econbiz.de/10012893520
This paper investigates the linkage between social protection and economic resilience. Does social protection have an impact on income? What role do social protection policies play in strengthening a society's capacity to overcome economic hardships? The recent crisis has brought these questions...
Persistent link: https://www.econbiz.de/10011532279
This paper investigates the linkage between social protection policies and economic resilience. Does social protection have an impact on income and growth? What role do social protection policies play in strengthening a society's capacity to overcome economic and social hardships? These are...
Persistent link: https://www.econbiz.de/10013005536
The subprime crisis produced bizarre movements in real and financial aggregates. In particular, the presence of an unusual relationship between quantitative easing policies and credit market conditions led to an unprecedented drop in the real economic activity. In a Brainard (1967)'s parameter...
Persistent link: https://www.econbiz.de/10013037786
This paper examines how a set of economic indicators have changed in Spain before and after the last round of reforms were passed. This analysis provides some stylized facts of the Spanish recovery. The current account balance and the main competitiveness indicators started to improve in 2009...
Persistent link: https://www.econbiz.de/10012982455
We investigate whether and how the information content of reported profitability and macroeconomic expectations changes when the state of the economy changes from non-crisis to crisis conditions. For this, we analyze data from sixteen European countries over the period 2005-2015. We find...
Persistent link: https://www.econbiz.de/10012902775
This paper reviews recent state interventions in financial crises and draws lessons for crisis management. A number of areas are identified where crisis management could be strengthened, including with regard to the tools and instruments used to involve the private sector in crisis resolution...
Persistent link: https://www.econbiz.de/10013138525
Market economies and command economies have long been differentiated by the presence of alternative choice in the form of diversity. Yet most mainstream economic theory is premised on the existence of uniformity. This paper develops the implications of this contradiction for the theory of...
Persistent link: https://www.econbiz.de/10013101368