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Global Liquidity : Drivers, Volatility and Toolkits

Goldberg, Linda S. - National Bureau of Economic Research - 2023

Global liquidity refers to the volumes of financial flows - largely intermediated through global banks and non-bank financial institutions - that can move at relatively high frequencies across borders. The amplitude of responses to global conditions like risk sentiment, discussed in the context...

Persistent link: https://www.econbiz.de/10014322743

Financial Crises and the Global Supply Network : Evidence from Multinational Enterprises

Basco, Sergi; Felice, Giulia; Merlevede, Bruno; … - National Bureau of Economic Research - 2023

This paper empirically examines the effects of financial crises on the organization of production of multinational enterprises. We construct a panel of European multinational networks from 2003 through 2015. We use as a financial shock the increase in risk premia between August 2007 and July...

Persistent link: https://www.econbiz.de/10014287317

Were COVID and the Great Recession Well-being Reducing?

Blanchflower, David G.; Bryson, Alex - National Bureau of Economic Research - 2023

We show individuals' reports of subjective well being in Europe did decline in the Great Recession and during the Covid …' expectations of the economy and the labor market. Neither the UN's Human Development Index (HDI) nor data used in the World … Happiness Report from the Gallup World Poll shifted much in response to negative shocks. The HDI has been rising in the last …

Persistent link: https://www.econbiz.de/10014322884

The Puzzling Persistence of Financial Crises

Calomiris, Charles W.; Jaremski, Matthew S. - National Bureau of Economic Research - 2024

The high social costs of financial crises imply that economists, policymakers, businesses, and households have a tremendous incentive to understand, and try to prevent them. And yet, so far we have failed to learn how to avoid them. In this article, we take a novel approach to studying financial...

Persistent link: https://www.econbiz.de/10014512067

Corporate Debt, Boom-Bust Cycles, and Financial Crises

Ivashina, Victoria; Kalemli-Ozcan, Sebnem; Laeven, Luc; … - National Bureau of Economic Research - 2024

Using a new dataset on sectoral credit exposures covering financial and non-financial sectors in 115 economies over the period 1940-2014, we document the following evidence that corporate debt plays a key role in explaining boom-bust cycles, financial crises, and slow macroeconomic recoveries:...

Persistent link: https://www.econbiz.de/10014512079

Credit Allocation and Macroeconomic Fluctuations

Mueller, Karsten; Verner, Emil - National Bureau of Economic Research - 2023

We study the relationship between credit expansions, macroeconomic fluctuations, and financial crises using a novel database on the sectoral distribution of private credit for 117 countries since 1940. We document that, during credit booms, credit flows disproportionately to the non-tradable...

Persistent link: https://www.econbiz.de/10014322807

Stress Relief? : Funding Structures and Resilience to the Covid Shock

Forbes, Kristin; Friedrich, Christian; Reinhardt, Dennis - National Bureau of Economic Research - 2023

This paper explores the relationship between different funding structures--including the source, instrument, currency, and counterparty location of funding--and the extent of financial stress experienced in different countries and sectors during the sharp risk-off shock in early 2020 when...

Persistent link: https://www.econbiz.de/10014287355

The Impacts of Crises on the Trilemma Configurations

Aizenman, Joshua; Chinn, Menzie David; Itō, Hiro - National Bureau of Economic Research - 2022

The "monetary trilemma" - the hypothesis that full monetary policy autonomy, exchange rate stability, and financial openness cannot simultaneously be achieved - has long been studied. Recently, holding international reserves (IR) has become an important policy instrument, insuring against...

Persistent link: https://www.econbiz.de/10013362059

Cultural Stereotypes of Multinational Banks

Eichengreen, Barry; Saka, Orkun - National Bureau of Economic Research - 2022

Using hand-collected data spanning more than a decade on European banks' sovereign debt portfolios, we show that the trust of residents of a bank's countries of operation in the residents of a potential target country of investment has a positive, statistically significant, and economically...

Persistent link: https://www.econbiz.de/10013477202

Business environment and firm entry : evidence from international data

Klapper, Leora - 2004

"Using a comprehensive database of firms in Western and Eastern Europe, we study how the business environment in a …

Persistent link: https://www.econbiz.de/10010523101

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