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This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output, consumption, and investment growth, but only up to...
Persistent link: https://www.econbiz.de/10013086316
This paper mainly examine the sensitivity level of economic recession to the financial sector development by ascertaining whether such relationship is linear and contingent on trade openness, GDP per capita, financial openness, institution, democracy and fuels. We employ annual data of 129...
Persistent link: https://www.econbiz.de/10012896039
This paper studies the business cycle effects on the performance of commercial bank loan portfolios across major developing economies in the period 1996-2008. We measure loan performance via loan loss provisions (that is, recognized expenses related to expected losses in bank income statements)....
Persistent link: https://www.econbiz.de/10013130571
This paper addresses the fifty-year decline in growth for the U.S. and other advanced economies. The paper develops a growth model based upon an economy's capital accounts and illustrates how customary growth factors such as labor and total factor productivity are embedded within investment...
Persistent link: https://www.econbiz.de/10012827044
The paper assesses the impact of adding information on financial cycles on the output gap estimates for eight advanced economies using two unobserved components models: a reduced form extended Hodrick-Prescott filter, and a standard semi-structural unobserved components model. To complement...
Persistent link: https://www.econbiz.de/10012320331
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
The paper explores whether a theory of banks doing ‘finance through money creation' implies a reconsideration of demand-side macro theory as well. To this aim, a simple methodological accounting model of the influence of financial markets over the real economy is presented. The model allows a...
Persistent link: https://www.econbiz.de/10012930485
We study the cross sectional return implications of technology shocks through the channel of capital reallocation. We present a model in which capital reallocation frictions limit the non-innovating firms' ability to redeploy assets when facing technology shocks and forces it to hold...
Persistent link: https://www.econbiz.de/10013017246
This paper studies the long-run evolution of bank risk and its links to the macroeconomy. Using data for 17 advanced economies, we show that the riskiness of bank assets declined materially between 1870 and 2016. But even though bank assets have become safer, the losses on these assets are...
Persistent link: https://www.econbiz.de/10013322444
This paper studies the long-run evolution of bank risk and its links to the macroeconomy. Using data for 17 advanced economies, we show that the riskiness of bank assets declined materially between 1870 and 2016. But even though bank assets have become safer, the losses on these assets are...
Persistent link: https://www.econbiz.de/10013405230