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This paper uses the switching probability regimes methodology to estimate the determinants of financial crisis, measured in changes in the stochastic regimes of interest and exchange rates. We use Mexico to perform the exercise. Results suggest that public debt structure is important in...
Persistent link: https://www.econbiz.de/10005465060
This note presents a brief summary of the recent literature, both theoretical and empirical, on the effects of financial development on growth and growth volatility. We attempt to contribute to the analysis of the possible channels of interaction between these processes which is key for policies...
Persistent link: https://www.econbiz.de/10010862305
This paper uses structural vector autoregression (SVAR) models to characterize the dynamic impact of fiscal policy on national saving. SVARs have extensively been used in case of monetary policy. Data adjusted for inflation, capital flight, the value loss of debt and cyclical effects, is used...
Persistent link: https://www.econbiz.de/10004991446