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Geopolitical risks and their impact on global macro-financial stability : literature and measurements
Hodula, Martin; Janků, Jan; Malovaná, Simona; Ngoc Anh Ngo - 2024
In our paper, we provide a review of the literature to identify the main transmission channels through which geopolitical risks (GPR) influence m a cro-financial st ab ility. We be gi n by analyzing the existing measures of geopolitical tensions and uncertainty, showing that GPR impacts economic...
Persistent link: https://www.econbiz.de/10015065805
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Sovereign haircuts : 200 years of creditor losses
Luckner, Clemens von <Graf>; Meyer, Josefin; Reinhart, … - 2024
We study sovereign external debt crises over the past 200 years, with a focus on creditor losses, or "haircuts". Our sample covers 327 sovereign debt restructurings with external private creditors over 205 default spells since 1815. Creditor losses vary widely (from none to 100%), but the...
Persistent link: https://www.econbiz.de/10014557831
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Sovereign Credit and Geopolitical Risks During and After the EMU Crisis
Bratis, Theodore D.; Kouretas, Georgios P.; laopodis, … - 2022
geopolitical risk, we employ the Caldara and Iacoviello (2018) global geopolitics index (GPR). Using alternative econometric …
Persistent link: https://www.econbiz.de/10013293408
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Prime money market funds regulation, global liquidity, and the crude oil market
Ivan, Miruna-Daniela; Banti, Chiara; Kellard, Neil - In: Journal of international money and finance 127 (2022), pp. 1-21
Persistent link: https://www.econbiz.de/10013435624
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Granger Predictability of Oil Prices after the Great Recession
Benk, Szilard - 2019
Real oil prices surged from 2009 through 2014, comparable to the 1970's oil shock period. Standard explanations based on monopoly markup fall short since inflation remained low after 2009. This paper contributes strong evidence of Granger (1969) predictability of nominal factors to oil prices,...
Persistent link: https://www.econbiz.de/10012858386
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Granger Predictability of Oil Prices after the Great Recession
Benk, Szilárd; Gillman, Max - 2020
Real oil prices surged from 2009 through 2014, comparable to the 1970's oil shock period. Standard explanations based on monopoly markup fall short since inflation remained low after 2009. This paper contributes strong evidence of Granger (1969) predictability of nominal factors to oil prices,...
Persistent link: https://www.econbiz.de/10014102288
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Global liquidity, world savings glut and global policy coordination
Belke, Ansgar; Gros, Daniel - 2010
drivers of asset prices are global liquidity conditions. Central banks flooded the markets with ample liquidity. Mopping up … this excess liquidity will be one major task for central banks worldwide, which needs to be done in a coordinated fashion …. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods …
Persistent link: https://www.econbiz.de/10003934687
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Global Liquidity, World Savings Glut and Global Policy Coordination
Belke, Ansgar Hubertus - 2010
drivers of asset prices are global liquidity conditions. Central banks flooded the markets with ample liquidity. Mopping up … this excess liquidity will be one major task for central banks worldwide, which needs to be done in a coordinated fashion …. Moreover, our analysis has shown that liquidity will first show up in asset price inflation and only later in consumer goods …
Persistent link: https://www.econbiz.de/10013144334
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The credit composition of global liquidity
Herwartz, Helmut; Ochsner, Christian; Rohloff, Hannes - 2021
We conceptualize global liquidity as global monetary policy and credit components by means of a large-scale dynamic … liquidity considerably. Whereas global government sector credit supply is best understood as a safe-haven lending factor from an …
Persistent link: https://www.econbiz.de/10012543579
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The credit composition of global liquidity
Herwartz, Helmut; Ochsner, Christian; Rohloff, Hannes - 2020
We conceptualize global liquidity as global monetary policy and credit components by means of a large-scale dynamic … households). We show that this decomposition enhances the understanding of global liquidity considerably. Whereas global public …
Persistent link: https://www.econbiz.de/10012318308