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factor in explaining the large budget deficits and increases in debt that follow the crisis. Our estimates of the rise in …
Persistent link: https://www.econbiz.de/10012977744
Many countries around the world have experienced banking crises in the past two decades, and all countries are witnessing substantial changes in the structure and nature of banking. These developments have led national and multilateral policymakers to focus increased attention on the crucial...
Persistent link: https://www.econbiz.de/10013112112
The current economic crisis is a complex social phenomenon, several aspects of which go beyond national borders and … proper examination of the crisis. In this article, I draw out a few insights on the unique position of IB scholars that can … enable them to take a lead on the emerging academic discourse on the crisis, and also invigorate broader interest in the IB …
Persistent link: https://www.econbiz.de/10014046074
the crisis, which might help to restore confidence. This holds all the more since creditors have better access to …
Persistent link: https://www.econbiz.de/10003463647
There is a consensus among the majority of economists that the credit supply is limited by current household saving. If governments or foreigners ran deficits, they would absorb this limited saving so that firms could not borrow any longer and had to reduce their investment. This is the...
Persistent link: https://www.econbiz.de/10011300962
We explore the concept of global liquidity based on a factor model estimated using a large set of financial and macroeconomic variables from 24 advanced and emerging market economies. We measure global liquidity conditions based on the common global factors in the dynamics of liquidity...
Persistent link: https://www.econbiz.de/10009720899
central banks in the game that leads to the crisis and even collapse offinancial systems, and he advocated supranational …
Persistent link: https://www.econbiz.de/10011507825
In most countries, the central bank is required to hold reserve assets as a means of providing credibility for the value of the fiat currency. These assets can be in the form of gold, foreign exchange or some other internationally recognised reserve asset and are held to permit the country to...
Persistent link: https://www.econbiz.de/10011450546
This paper investigates empirically the drivers of financial imbalances ahead of the global financial crisis. Three … financial imbalances ahead of the crisis …
Persistent link: https://www.econbiz.de/10013131803
The Eurozone recent crisis has shown how balance of payments problems in less developed European Monetary Union (EMU …) member countries can affect EMU trading partners, spreading the crisis to a larger group of countries. This paper introduces … spillover effect or a currency crisis transmission between countries. Specifically, using a two period model, it incorporates …
Persistent link: https://www.econbiz.de/10013113935