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This unique and fascinating book illustrates that the ‘credit crunch’ and the ensuing financial and economic crisis of 2007–2009 did not only strike hard at the economy in the Western world, but also at its policymakers, at economics as a scientific discipline and, more...
Persistent link: https://www.econbiz.de/10011182015
This paper provides an empirical investigation of both the within-US and international channels of transmission of macroeconomic and financial shocks by means of a 50-country macroeconometric model (estimated over the 1980–2009 period), including measures of excess liquidity and financial...
Persistent link: https://www.econbiz.de/10011065580
In this paper international comovements among a set of key real and nominal macroeconomic variables in the US, UK, Canada, Japan and the Euro area have been investigated for the 1980-2005 period, using a factor vector autoregressive approach. We present evidence that comovements in macroeconomic...
Persistent link: https://www.econbiz.de/10005107482
In this paper the long-run trend in RPI inflation (core inflation) for the UK over the 1961–1997 period is estimated within the framework of a multivariate common trends model which extends the bivariate VAR approach of Quah and Vahey (1995). In this context core inflation is directly linked...
Persistent link: https://www.econbiz.de/10005613034
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The recent financial crisis has highlighted the fragility of the US financial system under several respects. In this paper the properties of a summary index of financial fragility, timely capturing changes in credit and liquidity risk, distress in the mortgage market, and corporate default risk,...
Persistent link: https://www.econbiz.de/10010719027
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