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Flight-to-liquidity and the great recession

Radde, Sören - 2012

outflows with loan scale. The model shows that an aggregate shock to the collateral value of bank assets triggers a flight to … liquidity, which amplifies the initial shock and induces credit crunch dynamics sharing key features with the Great Recession …. The paper thus develops a new balance sheet channel of shock transmission that works through the composition of banks …

Persistent link: https://www.econbiz.de/10009665427

Business cycles in a small open economy: The case of Hong Kong

Garaigorta, Echeverria; Elisa, Paulina; Padilla, Iza; … - Departamento de Fundamentos del Análisis Económico … - 2011

This paper was presented at the All China Economics (ACE) International Conference, Hong Kong, 2006, XXXIII Symposium of Economic Analysis, Spain, 2007, DEGIT XVI Dynamics, Economic Growth and International Trade, Los Angeles, USA, 2009.

Persistent link: https://www.econbiz.de/10009392221

A Neoclassical Analysis of The Korean Crisis

Otsu, Keisuke - In: Review of Economic Dynamics 11 (2008) 2, pp. 449-471

In late 1997, Korea experienced a huge and unusual economic crisis. The three main features of this crisis are the sudden recession, the rapid recovery and a consumption drop as large as the output drop. A large body of literature qualitatively explains the Korean crisis in terms of financial...

Persistent link: https://www.econbiz.de/10005027320

Financial market participation and the developing country business cycle

Özbilgin, H. Murat - In: Journal of development economics 92 (2010) 2, pp. 125-137

Persistent link: https://www.econbiz.de/10008659015

Real Business Cycles Versus Financial Frictions Models for Small Open Economies

Ortiz, Alberto; Wishart, Jacob - 2012

Is a real business cycle model extended with non-stationary technology shocks able to describe small open economies or are credit market imperfections necessary in addition? This study addresses this question by providing evidence of the relative ability of a model with and without financial...

Persistent link: https://www.econbiz.de/10014040627

Emerging Market Business Cycles : The Cycle is the Trend

Aguiar, Mark; Gopinath, Gita - 2008

We document and contrast features of the business cycle for emerging markets and developed small open economies. Current accounts are shown to be more strongly countercyclical and consumption is more volatile relative to income in emerging markets. Next we show that a standard dynamic stochastic...

Persistent link: https://www.econbiz.de/10014072393

Macroprudential Policy and Labor Market Dynamics in Emerging Economies

Finkelstein Shapiro, Alan - 2015

Emerging economies have high shares of self-employed individuals running owner-only firms who, in contrast to many salaried firms, have little access to formal financing and therefore rely on informal financing (input credit) from other firms. We build a small open economy real business cycle...

Persistent link: https://www.econbiz.de/10013023271

China's emergence in the world economy and business cycles in Latin America

Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2012

world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … times since mid-1990s. At the same time, the long-term impact of a US GDP shock has halved, while the transmission of shocks …

Persistent link: https://www.econbiz.de/10009627525

The macroeconomic effects of portfolio equity inflows

Sander, Nicholas - 2023 - Last updated: June 9, 2023

-fixing countries maintain GDP roughly at the same pre-shock levels but achieve this with higher interest rates. …

Persistent link: https://www.econbiz.de/10014288058

Rational inattention and the business cycle effects of productivity and news shocks

Maćkowiak, Bartosz; Wiederholt, Mirko - 2023

We solve a real business cycle model with rational inattention (an RI-RBC model). In the RI-RBC model, the growth rates of employment, investment, and output are about as persistent as in the data, with an amount of inattention consistent with survey data on expectations. Moreover, consumption,...

Persistent link: https://www.econbiz.de/10014343098