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We narrate Ireland’s recent odyssey from the pride and envy of Europe to kneeling supplicant through the eyes of an econometric model of the government bond market. The exercise suggests that, in essence, two developments triggered and propelled Ireland’s drift towards sovereign default:...
Persistent link: https://www.econbiz.de/10010693332
The financial market of the Republic of Moldova has been characterized by a high degree of uncertainty during the last years. The political instability had its consequences causing disturbances, especially on the bank market. At the same time, the global financial crisis has had a direct impact...
Persistent link: https://www.econbiz.de/10010693359
After the global financial crisis, there is greater awareness of the need to understand the interactions between the financial sector and the real economy and hence the potential for financial instability. Data from the financial flow of funds, previously relatively neglected, are now seen as...
Persistent link: https://www.econbiz.de/10010693498
We argue that the fundamental cause of the financial crisis of 2007–2009 was that large, complex financial institutions ("LCFIs") took excessive leverage in the form of manufacturing tail risks that were systemic in nature and inadequately capitalized. We employ a set of headline facts about...
Persistent link: https://www.econbiz.de/10010693715
The objective of this paper is to explore the role of global financial crises in creating oil price shock affecting both importing and exporting countries of East and West Asia over 1980-2008. It also investigates the oil shock effect on trade relations among these countries during the period....
Persistent link: https://www.econbiz.de/10010695842
The paper develops a financial systemic stress index (FSSI) for Greece. We present a methodology for constructing and evaluating a systemic stress index which: i) adopts the suggestion of Hollo et al. (2012) [Hollo, Kremer, and Duca (2012) “CISS – A ‘Composite Indicator of Systemic...
Persistent link: https://www.econbiz.de/10010696481
This paper investigates the performance of labor markets during the recent crisis for 28 industrialized countries, specifically the reaction of employment and unemployment indicators relative to output changes.We construct a composite indicator for output as well as labor market performance. The...
Persistent link: https://www.econbiz.de/10010696563
This paper discusses several key issues regarding the current Great Crisis, which has extended over two periods. The first period covered the 2007-09 subprime crisis in the US, while the second took the form of a twin sovereign debt and banking crisis in Europe after 2010, and persists until...
Persistent link: https://www.econbiz.de/10010697215
Since the collapse of Lehman Brothers, the co-dynamics of the Rupee and the India stock exchange index, the Senex, have altered. Although emerging markets could have been shielded from the vagaries of financial flows that have plagued the developed world, it is shown that, in the post financial...
Persistent link: https://www.econbiz.de/10010697254
This paper is assessing the status of e-government development in Europe in comparison with other regions of the world by analyzing evolution trends and making correlations between the financial crisis and the fluctuations registered in the indexes that are measuring e-government development....
Persistent link: https://www.econbiz.de/10010698023