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China's emergence in the world economy and business cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2012
world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …
Persistent link: https://www.econbiz.de/10009627525
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International Co-Movements in Recessions
Roth, Moritz A. - 2018
Business cycle correlations are state-dependent and higher in recessions than in expansions. In this paper, I suggest a mechanism to explain why this is the case. For this purpose, I build an international real business cycle model with occasionally binding constraints on capacity utilization...
Persistent link: https://www.econbiz.de/10012928657
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Global recessions
Kose, M. Ayhan; Sugawara, Naotaka; Terrones, Marco E. - 2020
The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 …, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off by …
Persistent link: https://www.econbiz.de/10012159612
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Banking and the macroeconomy in China: A banking crisis deferred?
Le, Vo Phuong Mai; Matthews, Kent; Meenagh, David; … - 2013
The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed …
Persistent link: https://www.econbiz.de/10010397727
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Banking and the macroeconomy in China : a banking crisis deferred?
Le, Vo Phuong Mai; Matthews, Kent; Meenagh, David; … - 2013
The downturn in the world economy following the global banking crisis has left the Chinese economy relatively unscathed …
Persistent link: https://www.econbiz.de/10009738893
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Bank capital regulation, the lending channel and business cycles
Zhang, Longmei - 2009
This paper develops a Dynamic Stochastic General Equilibrium (DSGE) model to study how the instability of the banking sector can amplify and propagate business cycles. The model builds on Bernanke, Gertler and Gilchrist (BGG) (1999), who consider credit demand friction due to agency cost, but it...
Persistent link: https://www.econbiz.de/10003915191
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Uncertainty and monetary policy during the great recession
Pellegrino, Giovanni; Castelnuovo, Efrem; Caggiano, Giovanni - 2021
We employ a nonlinear VAR framework and a state-of-the-art identification strategy to document the large response of real activity to a financial uncertainty shock during and in the aftermath of the great recession. We replicate this evidence with an estimated DSGE framework featuring a concept...
Persistent link: https://www.econbiz.de/10012495676
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Animal spirits, investment and unemployment : an old Keynesian view of the Great Recession
Guerrazzi, Marco - In: Economia : revista da ANPEC 16 (2015) 3, pp. 343-358
This paper develops a DSGE model with investment and capital accumulation build along demand-driven explanations of the Great Recession. Specifically, following Farmer (2013), I set forth a search framework in which households decide about consumption while firms decide about recruiting effort...
Persistent link: https://www.econbiz.de/10011865573
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Global stagflation
Ha, Jongrim; Kose, M. Ayhan; Ohnsorge, Franziska - 2022
Global inflation has risen sharply from its lows in mid-2020, on rebounding global demand, supply bottlenecks, and soaring food and energy prices, especially since the Russian Federation's invasion of Ukraine. Markets expect inflation to peak in mid-2022 and then decline, but to remain elevated...
Persistent link: https://www.econbiz.de/10013256317
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Economics of the financial crisis : any lessons for the pandemic downturn and beyond?
Elyassi, Hamid - In: Contemporary economics 15 (2021) 1, pp. 100-121
The world economy entered the third decade of this century with uncertainties and challenges of COVID-19 pandemic … empirical evidence to critically study external and internal economic processes and policies particularly of major world …
Persistent link: https://www.econbiz.de/10012485796