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Chapter 11 Externalities and Growth
Klenow, Peter J.; Rodríguez-Clare, Andrés - 2005
Externalities play a central role in most theories of economic growth. We argue that international externalities, in … particular, are essential for explaining a number of empirical regularities about growth and development. Foremost among these is … that many countries appear to share a common long run growth rate despite persistently different rates of investment in …
Persistent link: https://www.econbiz.de/10014023776
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The economy as an oscillating system : lessons learned - insights - forecasts
Meier, Peter - 2019
Persistent link: https://www.econbiz.de/10012059730
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The climate and the economy
Breckenfelder, Johannes; Maćkowiak, Bartosz; Marqués … - 2023
explores implications for growth, innovation, inflation, financial markets, fiscal policy, and several socio-economic outcomes …
Persistent link: https://www.econbiz.de/10014230344
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The effectiveness of monetary policy instruments under dollarization : a cross-country analysis
Park, Hail; Son, Jong Chil - In: Asia-Pacific journal of accounting & economics : … 30 (2023) 4, pp. 1029-1046
Persistent link: https://www.econbiz.de/10014319637
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Adding space to the international business cycle
Abate, Girum Dagnachew; Servén, Luis - 2019
Growth fluctuations exhibit substantial synchronization across countries, which has been viewed as reflecting a global … countries. This paper brings these two perspectives together by analyzing international growth fluctuations in a setting that … that the cross-country dependence of aggregate growth is the combined result of global shocks summarized by a latent common …
Persistent link: https://www.econbiz.de/10012008277
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The shape of business cycles : a cross-country analysis of Friedman's plucking theory
Kohlscheen, Emanuel; Moessner, Richhild; Rees, Daniel M. - 2023
Persistent link: https://www.econbiz.de/10014249569
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Dating systemic financial stress episodes in the EU countries
Duprey, Thibaut; Klaus, Benjamin; Peltonen, Tuomo - 2016
This paper introduces a new methodology to date systemic financial stress events in a transparent, objective and reproducible way. The financial cycle is captured by a monthly country-specific financial stress index. Based on a Markov-switching model, high financial stress regimes are...
Persistent link: https://www.econbiz.de/10011441674
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Credit market frictions and sudden stops
Imura, Yuko - 2014
Financial crises in emerging economies in the 1980s and 1990s often entailed abrupt declines in foreign capital inflows, improvements in trade balance, and large declines in output and total factor productivity (TFP). This paper develops a two-sector small open economy model wherein...
Persistent link: https://www.econbiz.de/10010426139
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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. During each of these episodes, annual real per capita global gross domestic product contracted, and this contraction was accompanied by weakening of other key indicators of global...
Persistent link: https://www.econbiz.de/10012230745
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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. During each of these episodes, annual real per capita global GDP contracted, and this contraction was accompanied by weakening of other key indicators of global economic activity....
Persistent link: https://www.econbiz.de/10012159612