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Persistent link: https://www.econbiz.de/10012318373
The economic recovery in CESEE has strengthened further in recent months, resulting in a number of additional upgrades to our growth forecasts for 2021, to 5.4% on the regional average. This good performance has been built on two important foundation stones: the adaptation of the CESEE economies...
Persistent link: https://www.econbiz.de/10012663107
Persistent link: https://www.econbiz.de/10012285774
(FDI). We investigate whether prudent monetary and fiscal policy through indicators that reflect the expectations … concerning the central bank's commitment to a target and the sustainability of government finance affects FDI inflows. Based on a … macroeconomic policies are an essential driver of FDI inflows. The findings support the view that using prudent monetary and fiscal …
Persistent link: https://www.econbiz.de/10015055048
This paper attempts to empirically assess the impact of the ECB's quantitative easing policy on capital flows in the countries of the Central and South Eastern region. Given the tight trade and financial linkages of the region with the euro area, one should expect that the buoyant liquidity...
Persistent link: https://www.econbiz.de/10011874153
In this paper we: (i) provide a model of endogenous risk intolerance and serve aggregate demand contractions following a large (non-financial) shock; and (ii) demonstrate the effectiveness of Large Scale Asset Purchases (LSAPs) in addressing these contractions. The key mechanism stems from...
Persistent link: https://www.econbiz.de/10012836868
The COVID-19 crisis is unique in many respects and, as the IMF (2021, p. 43) puts it: "a crisis like no other". A global economic contraction occurred that was unprecedented in its speed and depth. Support packages were put together in some parts of the world that also dwarfed anything seen up...
Persistent link: https://www.econbiz.de/10012591769
We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We use a normalization procedure that makes the pre-policy paths of the...
Persistent link: https://www.econbiz.de/10012315000
We develop a novel empirical approach to identify the effectiveness of policies against a pandemic. The essence of our approach is the insight that epidemic dynamics are best tracked over stages, rather than over time. We use a normalization procedure that makes the pre-policy paths of the...
Persistent link: https://www.econbiz.de/10012312986
The financial impact of the global crisis on Latin America has in some respects been less severe than in previous crises. This reflects in part the development of domestic bond markets and improved net balance sheet positions of the economies, which for a period have allowed gross capital inflow...
Persistent link: https://www.econbiz.de/10013095336