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Financing the capital development of the economy : a Keynes-Schumpeter-Minsky synthesis
Mazzucato, Mariana; Wray, L. Randall - 2015
, innovations, and the advance of human knowledge - the rate of growth of capacity has slowed. [...] …
Persistent link: https://www.econbiz.de/10010517057
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Financing the capital development of the economy : a Keynes-Schumpeter-Minsky synthesis
Mazzucato, Mariana; Wray, L. Randall - 2015
, innovations, and the advance of human knowledge-the rate of growth of capacity has slowed. The past quarter century witnessed the …
Persistent link: https://www.econbiz.de/10010530034
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The Role of Finance in Economic Development : Benefits, Risks, and Politics
Beck, Thorsten - 2011
development and growth. The financial system, however, is also subject to boom and bust cycles and fragility, with negative … literature – the finance and growth literature, the literature on financial fragility, and the politics and finance literature …
Persistent link: https://www.econbiz.de/10013117353
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Optimal Macroprudential Policy and Asset Price Bubbles
Biljanovska, Nina - 2019
An asset bubble relaxes collateral constraints and increases borrowing by credit-constrained agents. At the same time, as the bubble deflates when constraints start binding, it amplifies downturns. We show analytically and quantitatively that the macroprudential policy should optimally respond...
Persistent link: https://www.econbiz.de/10012862442
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Volatility spillovers of Federal Reserve and ECB balance sheet expansions to emerging market economies
Apostolou, Apostolos; Beirne, John - 2017
This paper examines volatility spillovers from changes in the size of the balance sheets of the Federal Reserve (FED) and European Central Bank (ECB) to emerging market economies (EMEs) from 2003 to 2014. We find that EME bond markets are most susceptible to positive volatility spillovers from...
Persistent link: https://www.econbiz.de/10011636172
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On the past, present, and future of the Diebold-Yilmaz approach to dynamic network connectedness
Diebold, Francis X.; Yılmaz, Kamil - 2022
We offer retrospective and prospective assessments of the Diebold-Yilmaz connectedness research program, combined with personal recollections of its development. Its centerpiece in many respects is Diebold and Yilmaz (2014), around which our discussion is organized.
Persistent link: https://www.econbiz.de/10013463897
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Resilience to crisis through social protection : can we build the case?
Roca, Thomas; Ferrer, Hélène - 2016
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
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Canada's Potential Growth : Another Victim of the Crisis
Estevão, Marcello M. - 2011
This study investigates the impact of the current financial crisis on Canada's potential GDP growth. Using a simple … accounting framework to decompose trend GDP growth into changes in capital, labor services and total factor productivity, we find … a sizeable drop in Canadian potential growth in the short term. The estimated decline of about 1 percentage point …
Persistent link: https://www.econbiz.de/10013134722
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Global Crisis : Past Experiences and Future Challenges
Mau, Vladimir - 2012
A detailed analysis of all crises (we shall describe them, with some qualification, as ‘systemic crises') exceeds the scope of the present article. Here, we shall highlight only some of their common features. What they have in common has nothing to do with the extent of the decline in...
Persistent link: https://www.econbiz.de/10013103248
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Growing Out of the Crisis : Hidden Assets to Greece's Transition to an Innovation Economy
Herrmann, Benedikt - 2013
Greece's currently planned institutional reforms will help to get the country going with limited economic growth. With …
Persistent link: https://www.econbiz.de/10013076149