This study examines the dynamic and nonlinear effects of global interest rate (based on the G7 market) shocks on equity markets in BRICS countries. A World Interest Rate (WIR) index is constructed using principal component analysis of short-term interest rates from developed economies. The...

1. Introduction -- 2. The slowdown and real interest rates -- 3. The slowdown and asset prices -- 4. The slowdown and the share of profits -- 5. The slowdown in the data -- 6. Losing ground to China and other countries -- 7. The pandemic and its aftermath -- 8. Growth to the Rescue.

Since the late 1990s, the United States has received large capital flows from developing countries and experienced a productivity growth slowdown. Motivated by these facts, we provide a model connecting international financial integration and global productivity growth. The key feature is that...

Since the late 1990s, the United States has received large capital flows from developing countries and experienced a productivity growth slowdown. Motivated by these facts, we provide a model connecting international financial integration and global productivity growth. The key feature is that...

This paper provides new evidence about the role of common global factors exploring the existence of structural breaks in the long-run trend of the term structure and analyzes the spillover effects from unconventional monetary policiesrecently implemented by major industrialized countries. For a...

This paper provides new evidence about the role of common global factors exploring the existence of structural breaks in the long-run trend of the term structure and analyzes the spillover effects from unconventional monetary policiesrecently implemented by major industrialized countries. For a...