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litigation nowadays than during earlier episodes of debt restructurings. -- Financial stability ; International topics …
Persistent link: https://www.econbiz.de/10003463647
This paper attempts to reconcile the apparent contradiction between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private...
Persistent link: https://www.econbiz.de/10011409380
The economic history of the United States is riddled with financial crises and banking panics. During the nineteenth-century, eight major such episodes occurred. In the period following World War II, some believed that these crises would no longer happen, and that the U.S. had reached a time of...
Persistent link: https://www.econbiz.de/10013128859
at a pace higher than many companies could pay back. The current housing bubble originated from issuing sub-prime …
Persistent link: https://www.econbiz.de/10013139545
situation and inability of investors to foresee (or to believe) the broader breakdown of international relations and the … international activity showed essentially no greater response to the political upheaval than those without …
Persistent link: https://www.econbiz.de/10012978570
The 1920s often called the “Golden 20s” because the equity markets were booming but there were a series of structural issues. Only a few years after the 1st World War the global economy was still suffering from the consequences of the brutal war. The market crash of 1929 came unexpected and...
Persistent link: https://www.econbiz.de/10012859878
This paper surveys the co-evolution of monetary policy and financial stability for a number of countries across four exchange rate regimes from 1880 to the present. Historical evidence is presented on the incidence, costs and determinants of financial crises along with some empirical evidence on...
Persistent link: https://www.econbiz.de/10012922048
This paper attempts to reconcile the apparent contradiction between two strands of the literature on the effects of financial intermediation on economic activity. On the one hand, the empirical growth literature finds a positive effect of financial depth as measured by, for instance, private...
Persistent link: https://www.econbiz.de/10013320595
This Occasional Paper analyses how significant expansions in central banks' mandates, roles and instruments can result in challenges to the independence of monetary policy. The paper reviews, in particular, some of the key challenges to central bank independence brought about by the global...
Persistent link: https://www.econbiz.de/10012298570
comprehensive long-run dataset of official international lending, covering 230,000 loans, grants and guarantees extended by … large, easily surpassing the scale of total international bailout lending after the 2008 crash. During peacetime …s, official finance has made a sharp comeback, largely due to the rise of China as an international creditor and the …
Persistent link: https://www.econbiz.de/10012233649