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Business cycles and the balance sheets of the financial and non-financial sectors

Villacorta, Alonso - 2018

banks' and firms' balance sheets in real activity. The net worth of firms determines their borrowing capacity both from … households and banks. Banks provide risky loans to multiple firms and use their diversified portfolio as collateral to borrow … from households. This intermediation process allows additional funds to flow from households to firms. Banks require net …

Persistent link: https://www.econbiz.de/10011984851

A new database for financial crises in European countries: ECB/ESRB EU crises database

Lo Duca, Marco; Koban, Anne; Basten, Marisa; Bengtsson, … - 2017

This paper presents a new database for financial crises in European countries, which serves as an important step towards establishing a common ground for macroprudential oversight and policymaking in the EU. The database focuses on providing precise chronological definitions of crisis periods to...

Persistent link: https://www.econbiz.de/10011984884

A structural approach to identify financial transmission in distinguished scenarios of crises

Herwartz, Helmut; Roestel, Jan - 2018

This paper investigates the propagation of instability through key asset markets of the US financial system - equity, real estate, banking and treasury - between 1/3/2000 and 12/26/2014. For this purpose, we develop an identification method to uncover characteristic financial market...

Persistent link: https://www.econbiz.de/10011903666

An optimal early warning system for currency crises under model uncertainty

Abdelsalam, Mamdouh Abdelmoula Mohamed; Abdel-Latif, Hany - In: Central Bank Review (CBR) 20 (2020) 3, pp. 99-107

This paper assesses several early warning (EWS) models of financial crises to propose a model that can predict the incidence of a currency crisis in developing countries. For this purpose, we employ the equal weighting (EW) and dynamic model averaging (DMA) approaches to combine forecast from...

Persistent link: https://www.econbiz.de/10014547774

Financial vulnerability and economic dynamics in Malaysia

Kuek, Tai-Hock; Puah, Chin-Hong - In: Journal of Central Banking Theory and Practice 9 (2020) S1, pp. 55-73

This study attempts to develop a financial vulnerability indicator serving as a composite indicator for the state of financial vulnerability. The indicator was constructed from 10 variables of macroeconomic, financial and property market by extracting a common vulnerability component through the...

Persistent link: https://www.econbiz.de/10014558542

Tax revolts and sovereign defaults

Arce, Fernando; Morgan, Jan; Werquin, Nicolas - 2024

Protests and fiscal crises often coincide, with complex causal dynamics at play. We examine the interaction between tax revolts and sovereign risk using a quantitative structural model calibrated to Argentina during the Macri administration (2015-2019). In the model, the government can be...

Persistent link: https://www.econbiz.de/10014581889

Global Cycles: Capital Flows, Commodities, and Sovereign Defaults, 1815-2015

Reinhart, Carmen M.; Reinhart, Vincent; Trebesch, Christoph - 2016

Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date turning points in global capital flows and commodity prices across two centuries and provide estimates from alternative data...

Persistent link: https://www.econbiz.de/10011431277

Policies in Hard Times: Assessing the Impact of Financial Crises on Structural Reforms

Gokmen, Gunes; Nannicini, Tommaso; Onorato, … - 2020

It is commonly argued that crises open up a window of opportunity to implement policies that otherwise would not have the necessary political backing. The argument goes that the political cost of deep reforms declines as crises unravel structural problems that need to be urgently rectified and...

Persistent link: https://www.econbiz.de/10012180125

From Finance to Fascism

Doerr, Sebastian; Gissler, Stefan; Peydró, José-Luis; … - 2020

Do financial crises radicalize voters? We study Germany's banking crisis of 1931, when two major banks collapsed and …

Persistent link: https://www.econbiz.de/10012313799

Academic scholarship in light of the 2008 financial crisis: Textual analysis of NBER Working Papers

Levy, Daniel; Mayer, Tamir; Raviv, Alon - 2020

Textual analysis of the NBER Working Papers published during 1999-2016 is done to assess the effects of the 2007-2009 crisis on the academic literature. The volume of crisis-related WPs is counter-cyclical, lagging the financial-instability-index. WPs by the Monetary-Economics, Asset-Pricing,...

Persistent link: https://www.econbiz.de/10012387266