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Does a Monetary Union protect again foreign shocks? An assessment of Latin American integration using a Bayesian VAR

Allégret, Jean-Pierre; Sand-Zantman, Alain - Groupe d'Analyse et de Théorie Économique Lyon … - 2008

This paper analyses the monetary consequences of the Latin-American trade integration process. We consider a sample of five countries –Argentina, Brazil, Chile, Mexico and Uruguay- spanning the period 1991-2007. The main question raised pertains to the feasibility of a monetary union between...

Persistent link: https://www.econbiz.de/10005056855

Regionalization vs. Globalization

Hirata, Hideaki; Kose, M. Ayhan; Otrok, Christopher - Crawford School of Public Policy, Australian National … - 2013

Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the...

Persistent link: https://www.econbiz.de/10011185996

Global Business Cycles: Convergence or Decoupling?

Kose, M. Ayhan; Otrok, Christopher; Prasad, Eswar - Institute for the Study of Labor (IZA) - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups – industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then...

Persistent link: https://www.econbiz.de/10005566406

The impact of the Basel III liquidity coverage ratio on macroeconomic stability: An agent-based approach

Li, Boyao - 2017

international response to the 2007-2008 financial crisis. Particularly, the liquidity coverage ratio (LCR) introduced by the Basel …

Persistent link: https://www.econbiz.de/10011587854

Gestación y desarrollo de la hegemonía de las formas y mecanismos de valorización financiero y especulativo: desde la época de 1970 hasta la crisis ac

Flores, Abelardo Mariña; Ramírez, Giannina Ninnette Torres - UNIVERSIDAD NACIONAL DE COLOMBIA SEDE MEDELLIN - 2010

las formas y los mecanismos de valorización financieros y especulativos desde la década de 1970 hasta la crisis actual …, identificando sus distintas etapas. Asimismo, se examina el curso de la crisis actual: el inicio de la recesión mundial al final de … 2007, su desarrollo como una crisis generalcapitalista, su transmutación al final de 2008 en una depresión de escala …

Persistent link: https://www.econbiz.de/10009144901

Effectives of monetary policy under the high and low economic uncertainty states: evidence from the major Asian economies

Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2021

This study examines the monetary policy effectiveness of five major Asian countries (China, Hong Kong, India, Japan, and South Korea) using a quantile vector autoregression (QVAR) model-based spillover estimation approach of Balcilar et al. (2020b) at different quantile paths. To do this, we...

Persistent link: https://www.econbiz.de/10012549189

The Relationship Between Credit and Business Cycles in Central America and the Dominican Republic

Ramirez, Francisco - Volkswirtschaftliche Fakultät, … - 2013

This study provides evidence of the relationship between credit and real activity in Central America and the Dominican Republic. We address the empirics of the link between credit and real activity for the case of a group of developing countries with limited financial markets where bank credit...

Persistent link: https://www.econbiz.de/10011110074

Credit supply and output volatility

Cantore, Cristiano; Satchi, Mathan - 2009

The link between aggregate profits and investment has been widely analysed through the impact of profits on net worth and therefore the firm's ability to borrow, in the presence of credit market imperfections. How the business cycle is affected if profits also affect investment through an impact...

Persistent link: https://www.econbiz.de/10010277796

Determinants of the credit cycle: A flow analysis of the extensive margin

Cuciniello, Vincenzo; Di Iasio, Nicola - 2021

, we offer new empirical evidence that credit declines during a recession primarily because of the reduction in the net …

Persistent link: https://www.econbiz.de/10012653462

The Great Mortgaging: Housing Finance, Crises, and Business Cycles

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - 2014

This paper unveils a new resource for macroeconomic research: a long-run dataset covering disaggregated bank credit for 17 advanced economies since 1870. The new data show that the share of mortgages on banks' balance sheets doubled in the course of the 20th century, driven by a sharp rise of...

Persistent link: https://www.econbiz.de/10010420692