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Growing Current Account Deficit a Serious Concern for India

Sinha, Abhrajit - 2020

India has shown spectacular growth in its external sector during the decade of ‘90s in the post liberalization period … just after the massive shock of Balance of Payments Crisis in 1990-91. The Current Account Deficit (CAD) position as well … as the Balance of Payments (BOP) situation has shown gradual improvement and thereby India achieves the Current Account …

Persistent link: https://www.econbiz.de/10014099507

Economic and political liberalizations

Giavazzi, Francesco; Tabellini, Guido Enrico - 2004

This paper studies empirically the effects of and the interactions amongst economic and political liberalizations. Economic liberalizations are measured by a widely used indicator that captures the scope of the market in the economy, and in particular of policies towards freer international...

Persistent link: https://www.econbiz.de/10011450308

Banking networks and economic growth: from idiosyncratic shocks to aggregate fluctuations

Kundu, Shohini; Vats, Nishant - 2021

This paper explores the transmission of non-capital shocks through banking networks. We develop a methodology to construct non-capital (idiosyncratic) shocks, using labor productivity shocks to large firms. We document a change in the relationship between foreign idiosyncratic shocks and...

Persistent link: https://www.econbiz.de/10012694566

The persistence-resilience trade-off in unemployment : the role of labor and product market institutions

Aksoy, Tolga; Manasse, Paolo - 2018

The "great recession" has affected labor markets in Euro-area countries in very different ways. This chapter documents two important aspects of their response: the impact effect of the recession on the rate of unemployment, and the persistence of high unemployment. We find that countries lie on...

Persistent link: https://www.econbiz.de/10011858547

Dynamic effects of monetary policy shocks on macroeconomic volatility

Mumtaz, Haroon; Theodoridis, Konstantinos - 2015

Epstein-Zin preferences to study the volatility implications of a monetary policy shock. An unexpected increases in the policy … volatility effects of the shock are driven by agents' concern about the (in)ability of the monetary authority to reverse …

Persistent link: https://www.econbiz.de/10011389786

Infinite-variance, alpha-stable shocks in monetary SVAR : final working-paper version

Hannsgen, Greg - 2011

This paper adumbrates a theory of what might be going wrong in the monetary SVAR literature and provides supporting empirical evidence. The theory is that macroeconomists may be attempting to identify structural forms that do not exist, given the true distribution of the innovations in the...

Persistent link: https://www.econbiz.de/10009269228

Identifying Technology Shocks in the Frequency Domain

DiCecio, Riccardo - 2010

. In a recent paper, Francis et al. [2008] proposed an alternative to identify technology as the shock that maximizes the … shock increases productivity, output, and hours at business-cycle frequencies. The technology shock that maximizes …

Persistent link: https://www.econbiz.de/10013139541

Infinite-Variance, Alpha-Stable Shocks in Monetary SVAR : Final Working Paper Version

Hannsgen, Greg - 2012

Persistent link: https://www.econbiz.de/10013114143

An Impulse-Response Function for a VAR with Multivariate GARCH-in-Mean that Incorporates Direct and Indirect Transmission of Shocks

Chua, Chew Lian - 2012

An impulse response function is derived for a vector autogressive model with a multivariate GARCH-in-Mean process. The multivariate GARCH volatility speci cation is based on Tsiaplias and Chua (2009) and accommodates both direct and indirect volatility spillovers. The impulse response function...

Persistent link: https://www.econbiz.de/10013098671

A Flexible Finite-Horizon Alternative to Long-Run Restrictions with an Application to Technology Shocks

Francis, Neville - 2012

Recent studies using long-run restrictions question the validity of the technology-driven real business cycle hypothesis. We propose an alternative identification that maximizes the contribution of technology shocks to the forecast-error variance of labor productivity at a long, but finite,...

Persistent link: https://www.econbiz.de/10012712670