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Stagflation and Topsy-Turvy Capital Flows

Bengui, Julien; Coulibaly, Louphou - National Bureau of Economic Research - 2022

Are unregulated capital flows excessive during a stagflation episode? We argue that they likely are, owing to a macroeconomic externality operating through the economy's supply side. Inflows raise domestic wages through a wealth effect on labor supply and cause unwelcome upward pressure on...

Persistent link: https://www.econbiz.de/10013462700

Bayesian inference for the mixed-frequency VAR model

Viefers, Paul - 2011

In this paper a mixed-frequency VAR à la Mariano & Murasawa (2004) with Markov regime switching in the parameters is estimated by Bayesian inference. Unlike earlier studies, that used the pseuo-EM algorithm of Dempster, Laird & Rubin (1977) to estimate the model, this paper describes how to...

Persistent link: https://www.econbiz.de/10009579612

Loan Supply Shocks and the Business Cycle

Gambetti, Luca - 2012

the most recent recession, we find that the contribution of these shocks can explain about one half of the decline in …

Persistent link: https://www.econbiz.de/10013101121

Money, Credit, Monetary Policy and the Business Cycle in the Euro Area : What Has Changed since the Crisis?

Giannone, Domenico - 2019

establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis … the financial and sovereign debt crisis …

Persistent link: https://www.econbiz.de/10012893985

Money, Credit, Monetary Policy, and the Business Cycle in the Euro Area : What Has Changed Since the Crisis?

Giannone, Domenico - 2019

establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis … the financial and sovereign debt crisis …

Persistent link: https://www.econbiz.de/10012871932

Credit Supply Dynamics and Economic Activity in Euro Area Countries : A Time-Varying Parameter VAR Analysis

Bijsterbosch, Martin - 2014

This paper aims to shed light on the role of credit supply shocks in euro area countries during the recent pre-crisis …, bust, and post-crisis periods. A time-varying parameter vector autoregression (TVP-VAR) with stochastic volatility à la … economy have generally increased since the recent crisis. Moreover, we report evidence that credit supply shocks contributed …

Persistent link: https://www.econbiz.de/10013049850

Money, credit, monetary policy, and the business cycle in the euro area : what has changed since the crisis?

Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019

establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis … the financial and sovereign debt crisis. …

Persistent link: https://www.econbiz.de/10012000041

Money, credit, monetary policy and the business cycle in the euro area : what has changed since the crisis?

Giannone, Domenico; Lenza, Michele; Reichlin, Lucrezia - 2019

establish stylized facts and study their stability during the global financial crisis and the European sovereign debt crisis … the financial and sovereign debt crisis. …

Persistent link: https://www.econbiz.de/10011959310

Expectation driven business cycles with limited enforcement

Walentin, Karl - 2009

We explore the implications of shocks to expected future productivity in a setting with limited enforcement of financial contracts. As in Lorenzoni andWalentin (2007) optimal financial contracts under limited enforcement imply that to obtain external finance firms have to post collateral in...

Persistent link: https://www.econbiz.de/10003833848

Economic resilience : the usefulness of early warning indicators in OECD countries

Hermansen, Mikkel Nørlem; Röhn, Oliver - 2015

The global financial crisis and the high associated costs have revived the academic and policy interest in “early … crises and in predicting the global financial crisis out-of-sample. The results are broadly robust to different definitions …

Persistent link: https://www.econbiz.de/10011399585