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Financial Liberalization in a Small Open Economy

Hagen, Jürgen von; Zhang, Haiping - 2021

We analyze the long-run and short-run implications of financial liberalization in a small open economy. Our main results are as follows. First, whether financial deregulation in one sector can improve production efficiency may depend on financial regulation in other sectors. Second, financial...

Persistent link: https://www.econbiz.de/10013317493

Political Booms, Financial Crises

Herrera, Helios - 2014

beyond other better-known early warning indicators, such as credit booms. This predictive power, however, only holds in … the short-term popularity benefits of weak credit booms rather than implementing politically costly corrective policies …

Persistent link: https://www.econbiz.de/10013047326

Global Banking, Trade, and the International Transmission of the Great Recession

Born, Alexandra - 2018

The global financial crisis of 2007-2009 spread through different channels from its origin in the United States to large parts of the world. In this paper we explore the financial and the trade channel in a unified framework and quantify their relative importance for this transmission....

Persistent link: https://www.econbiz.de/10012920861

Credit Channel and Business Cycle : The Role of Tax Evasion

Chiarini, Bruno - 2018

the credit channel via the financial accelerator mechanism. The results show that tax evasion is pro cyclical and …

Persistent link: https://www.econbiz.de/10012910934

Business Cycle Effects of Credit and Technology Shocks in a DSGE Model with Firm Defaults

Pesaran, M. Hashem - 2011

This paper proposes a theoretical framework to analyze the impacts of credit and technology shocks on business cycle … financial institutions in the transmission of credit and technology shocks to the real economy. A positive credit shock, defined … between loan and deposit rates. The effects of the credit shock tend to be highly persistent even without price rigidities and …

Persistent link: https://www.econbiz.de/10013119521

The Nature of Financial and Real Business Cycles : The Great Moderation and Banking Sector Pro-Cyclicality

Égert, Balázs - 2012

This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of...

Persistent link: https://www.econbiz.de/10013105148

The Impact of the Global Financial Crisis on Business Cycles in Asian Emerging Economies

Fidrmuc, Jarko - 2013

We analyze the transmission of global financial crisis to business cycles in China and India. The pattern of business cycles in emerging Asian economies generally displays a low degree of synchronization with the OECD countries, which is consistent with the decoupling hypothesis. By contrast,...

Persistent link: https://www.econbiz.de/10013095773