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The role that the price of oil plays in economic analysis in central banks as well as in financial markets has evolved over time. Oil is not seen anymore just as a input to production but also as a barometer of global economic activity as well as a financial asset. A high frequency structural...
Persistent link: https://www.econbiz.de/10012836821
The role that the price of oil plays in economic analysis in central banks as well as in financial markets has evolved over time. Oil is not seen anymore just as a input to production but also as a barometer of global economic activity as well as a financial asset. A high frequency structural...
Persistent link: https://www.econbiz.de/10013315299
repercussions, with world growth reducing by 0:23 percentage points in the short-run; and (ii) a surge in global financial market … volatility could translate into a fall in world economic growth of around 0:29 percentage points, but it could also have negative …
Persistent link: https://www.econbiz.de/10012969747
repercussions, with world growth reducing by 0.23 percentage points in the short-run; and (ii) a surge in global financial market … volatility could translate into a fall in world economic growth of around 0.29 percentage points, but it could also have negative …
Persistent link: https://www.econbiz.de/10012983788
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
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
The purpose of the paper was to present the decoupling hypothesis which says that the performance of the emerging economies becomes relatively independent from the changes in advanced economies, and to empirically verify this hypothesis. The Christiano-Fitzgerald band-pass filter and spectral...
Persistent link: https://www.econbiz.de/10013100114
With the aim to provide a detailed understanding of global financial cycles and their relevance over time, we analyse co-movement in credit, house prices, equity prices, and interest rates across 17 advanced economies over 130 years. Using a time-varying dynamic factor model, we observe global...
Persistent link: https://www.econbiz.de/10012832636
We analyze cyclical co-movement in credit, house prices, equity prices, and long-term interest rates across 17 advanced economies. Using a time-varying multi-level dynamic factor model and more than 130 years of data, we analyze the dynamics of co-movement at different levels of aggregation and...
Persistent link: https://www.econbiz.de/10011987786
The authors analyze cyclical co-movement in credit, house prices, equity prices, and long-term interest rates across 17 advanced economies. Using a time-varying multi-level dynamic factor model and more than 130 years of data, they analyze the dynamics of co-movement and compare recent...
Persistent link: https://www.econbiz.de/10011992406