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The 2007 subprime crisis in the U.S. triggered a succession of financial crises around the globe, reigniting interest in the contagion phenomenon. Not all crises, however, are contagious. This paper models a new channel of contagion where the degree of anticipation of crises, through its impact...
Persistent link: https://www.econbiz.de/10008559279
This paper presents some facts on China’s role in the world economy and measures the impact of China’s growth on growth in the rest of the world in the short and long term. Short-run estimates based on VARs and error-correction models suggest that spillover effects of...
Persistent link: https://www.econbiz.de/10008560430
attributable to direct or indirect spillovers of financial stress in advanced economies. Moreover, the estimated models suggest …
Persistent link: https://www.econbiz.de/10008561069
This paper investigates whether financial crises are alike by considering whether a single modeling framework can fit multiple distinct crises in which contagion effects link markets across national borders and asset classes. The crises considered are Russia and LTCM in the second half of 1998,...
Persistent link: https://www.econbiz.de/10008561080
This paper builds a Bayesian VAR estimation model of growth for Canada, by focusing specifically on the role of external and domestic financial indicators, including credit conditions. A variance decomposition shows that financial conditions explain one-third of the total variability in Canada's...
Persistent link: https://www.econbiz.de/10008561081
Economic theory suggests that with a pollution externality and learning spillovers related to renewable energy …
Persistent link: https://www.econbiz.de/10008562606
terms of positive (i.e. attraction) and/or negative (i.e. deterrence) spillovers. It distinguishes between activities that … facility responsible is located, over the period 1969–1995. The results show that positive spillovers stem from a high degree …
Persistent link: https://www.econbiz.de/10008563478
Persistent link: https://www.econbiz.de/10008564816
This paper studies the innovation strategies of multi-product firms in industries with different scope for product differentiation. In a simple model of multi-product firms, we show that returns to product versus process innovation are industry-specific. Demand and cost linkages induce a natural...
Persistent link: https://www.econbiz.de/10010897327
volatility spillovers from the U.S. market to both the Japanese and the Asian emerging markets. It is also found that the … volatility spillovers between the U.S. market and the Asian markets are stronger and bidirectional during the Asian financial … focusing on shock and volatility spillovers rather than return spillovers, which have been the primary focus of most other …
Persistent link: https://www.econbiz.de/10010898270