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Causes and consequences of the financial crisis and the implications for a more resilient financial and economic system
Hein, Eckhard - 2016
The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...
Persistent link: https://www.econbiz.de/10011431645
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On recessive and expansionary impact of financial development : empirical evidence
Nguena, Christian Lambert; Kodila-Tedika, Oasis - 2020
This paper mainly examines the effect of financial development on the recession, while controlling for potential recession factors. Using panel data of 129 countries spanning 1990-2010, we implemented "Locally Weighted Scatterplot Smoothing", "Local Linear" and "Iteratively Reweighted Least...
Persistent link: https://www.econbiz.de/10012221855
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On recessive and expansionary impact of financial development : empirical evidence
Nguena, Christian Lambert; Kodila-Tedika, Oasis - In: European journal of comparative economics 20 (2023) 1, pp. 97-130
We investigate the effects of financial development on recession while controlling for potential recession factors using data of about 129 countries covering the 1990-2010 period. To the best of our knowledge, this is the first study examining this relationship using a plural and innovative...
Persistent link: https://www.econbiz.de/10014318636
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FISS : a factor based index of systemic stress in the financial system
Szendrei, Tibor; Varga, Katalin - 2017
Tracking and monitoring stress within the financial system is a key component of macroprudential policy. This paper introduces a new measure of contemporaneous stress: the Factor based Index of Systemic Stress (FISS). The aim of the index is to capture the common components of data describing...
Persistent link: https://www.econbiz.de/10011713853
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Stablecoins and their risks to financial stability
MacDonald, Cameron; Zhao, Laura - 2022
The market for fiat-referenced cryptoassets, commonly known as stablecoins, has expanded rapidly in recent years alongside the growth of the cryptoasset ecosystem. In fact, the market capitalization of stablecoins increased by more than 30 times since the beginning of 2020. What risks could...
Persistent link: https://www.econbiz.de/10013465126
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Financial networks as a source of systemic instability
Zieliński, Tomasz - In: E-Finanse : finansowy kwartalnik internetowy 12 (2016) 3, pp. 59-68
Systemic risk is a fundamental constituent of contemporary financial systems. For the past decades a growing number of abrupt upsets in financial systems could be observed. Due to previous experiences, politicians and regulators prefer to identify the off enders outside the system or to blame...
Persistent link: https://www.econbiz.de/10011616783
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Financing Economic Growth in Greece : Lessons from the Crisis
Migiakis, Petros M.; Louri, Helen - 2022
We examine the existence of a feedback loop between the resilience of the financial sector and Greek economic activity. A sequence of structural VARs is employed using data for bank credit, liquidity, capital, asset quality and private demand in 2001-2018 in two data sets. One in monthly...
Persistent link: https://www.econbiz.de/10013492494
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The relevance of Haavelmo's macroeconomic theorizing for contemporary macro policy making
Chand, Sheetal K. - 2012
The recent great financial crisis and the ensuing deep recessions have placed in sharp relief the fundamental issue of how financial factors, including financial instability, interact with the real economy. In order to understand the nature of these interactions and formulate policies that would...
Persistent link: https://www.econbiz.de/10010330242
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Financial distress and corporate investment: The Japanese case in the 90s
Ogawa, Kazuo - 2003
We examine quantitatively the extent to which financial distress in the 90s affected Japanese corporate investment …. Based on the firm-level data that includes small, unlisted firms, we estimate investment function to measure the impact of … financial distress on investment. We find that the firm's ratio of debt to total asset exerts a significantly negative effect on …
Persistent link: https://www.econbiz.de/10010332354
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The relevance of Haavelmo's macroeconomic theorizing for contemporary macro policy making
Chand, Sheetal K. - 2012 - Publisert 27. feb. 2012 09:34 - Sist endret 27. feb. 2012 10:49
the current predicament. -- financial crisis ; investment ; monetary and fiscal policies …
Persistent link: https://www.econbiz.de/10009501890