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Schüler, Yves S. - 2018

I show that the detrending of financial variables with the Hodrick and Prescott (1981, 1997) (HP) and band-pass filters leads to spurious cycles. I find that distortions become especially severe when considering medium-term cycles, i.e., cycles that exceed the duration of regular business...

Persistent link: https://www.econbiz.de/10011813473

Academic scholarship in light of the 2008 financial crisis : textual analysis of NBER Working Papers

Levy, Daniel C.; Mayer, Tamir; Raviv, Alon - 2020 - Revised: February 23, 2020

Textual analysis of the NBER Working Papers published during 1999-2016 is done to assess the effects of the 2007-2009 crisis on the academic literature. The volume of crisis-related WPs is counter-cyclical, lagging the financial-instability-index. WPs by the Monetary-Economics, Asset-Pricing,...

Persistent link: https://www.econbiz.de/10012167383

Shadow banking : financial intermediation beyond banks

Adrian, Tobias; Chrétien, Edouard; Chui, Michael; … - Shadow Banking: Financial Intermediation beyond Banks …; … - 2018

Persistent link: https://www.econbiz.de/10011790739

Tax revolts and sovereign defaults

Arce, Fernando; Morgan, Jan; Werquin, Nicolas - 2024

Protests and fiscal crises often coincide, with complex causal dynamics at play. We examine the interaction between tax revolts and sovereign risk using a quantitative structural model calibrated to Argentina during the Macri administration (2015-2019). In the model, the government can be...

Persistent link: https://www.econbiz.de/10014505830

Booms and Banking Crises

Boissay, Frédéric - 2016

Banking crises are rare events that break out in the midst of credit intensive booms and bring about particularly deep … freezes, banking crises, credit crunches and severe recessions. Those "financial" recessions follow credit booms and are not …

Persistent link: https://www.econbiz.de/10012998760

The Financial History of Emerging Markets : New Indices

Taylor, Bryan - 2022

New indices are provided for ten emerging markets. Using data from companies listed in London and New York in the 1800s and 1900s, new stock market indices are produced and discussed providing information on companies in Turkey, Egypt, Cuba, China, Singapore, South Africa, Argentina, Brazil,...

Persistent link: https://www.econbiz.de/10013492467

Trusting the bankers : a new look at the credit channel of monetary policy

Ciccarelli, Matteo; Maddaloni, Angela; Peydró, José-Luis - 2010

Any empirical analysis of the credit channel faces a key identification challenge: changes in credit supply and demand … unique Euro area bank lending surveys. Embedding this information within a standard VAR model, we find that: (1) the credit … channel is active through the balance-sheets of households, firms and banks; (2) the credit channel amplifies the impact of a …

Persistent link: https://www.econbiz.de/10003993969

The crisis of finance-led capitalism in the United States of America

Evans, Trevor - 2015

of the economic gains accrued to top earners and economic growth became increasingly dependent on the expansion of credit …

Persistent link: https://www.econbiz.de/10011284841

Economic crisis and share price unpredictability : reasons and implications

Fox, Edward G.; Fox, Merritt B.; Gilson, Ronald J. - 2014

During the recent financial crisis, there was a dramatic spike, across all industries, in the volatility of individual firm share prices after adjustment for movements in the market as a whole. In this Article, we demonstrate that a similar spike has occurred with each major downturn in the...

Persistent link: https://www.econbiz.de/10010259665

Financial conditions and density forecasts for US output and inflation

Alessandri, Piergiorgio; Mumtaz, Haroon - 2014

When do financial markets help in predicting economic activity? With incomplete markets, the link between financial and real economy is state-dependent and financial indicators may turn out to be useful particularly in forecasting "tail" macroeconomic events. We examine this conjecture by...

Persistent link: https://www.econbiz.de/10010339756