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Global Business Cycles : Convergence or Decoupling?

Kose, M. Ayhan - 2008

Contents -- I. INTRODUCTION -- II. METHODOLOGY AND DATA -- III. DYNAMIC FACTORS AND EPISODES OF BUSINESS CYCLES -- IV. SOURCES OF BUSINESS CYCLE FLUCTUATIONS: 1960-2005 -- V. GLOBALIZATION AND THE EVOLUTION OF INTERNATIONAL BUSINESS CYCLES -- VI. SENSITIVITY EXPERIMENTS -- VII. CONCLUSION --...

Persistent link: https://www.econbiz.de/10012682176

Financial Globalization : A Reappraisal

Rogoff, Kenneth - 2006

Intro -- Contents -- EXECUTIVE SUMMARY -- I. INTRODUCTION -- II. A BRIEF OVERVIEW OF THEORY -- III. MEASURING FINANCIAL OPENNESS -- IV. PATTERNS OF FINANCIAL GLOBALIZATION -- V. MACROECONOMIC EVIDENCE ON EFFECTS OF FINANCIAL GLOBALIZATION -- VI. HOW DOES THE COMPOSITION OF CAPITAL FLOWS MATTER?...

Persistent link: https://www.econbiz.de/10012690991

Oil Prices and Bank Profitability

Hesse, Heiko - 2009

This paper analyzes the relationship between oil price shocks and bank profitability. Using data on 145 banks in 11 oil …-exporting MENA countries for 1994-2008, we test hypotheses of direct and indirect effects of oil price shocks on bank profitability …. Our results indicate that oil price shocks have indirect effect on bank profitability, channeled through country …

Persistent link: https://www.econbiz.de/10012677890

Global Business Cycles; Convergence or Decoupling?

Kose, M. Ayhan; Prasad, Eswar; Otrok, Christopher - International Monetary Fund (IMF) - 2008

This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups-industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...

Persistent link: https://www.econbiz.de/10005825794

Is Banksâ€™ Home Bias Good or Bad for Public Debt Sustainability?

Asonuma, Tamon; Bakhache, Said; Hesse, Heiko - International Monetary Fund (IMF) - 2015

Motivated by the recent increase in domestic banksâ€™ holdings of domestic sovereign debt (i.e., home bias) in the European periphery, this paper analyzes implications of banksâ€™ home bias for the sovereignâ€™s debt sustainability. The main findings, based on a sample of advanced...

Persistent link: https://www.econbiz.de/10011242437

Financial Spillovers to Emerging Markets During the Global Financial Crisis

Frank, Nathaniel; Hesse, Heiko - International Monetary Fund (IMF) - 2009

In this paper potential financial linkages between liquidity and bank solvency measures in advanced economies and …

Persistent link: https://www.econbiz.de/10008528671

Global Market Conditions and Systemic Risk

González-Hermosillo, Brenda; Hesse, Heiko - International Monetary Fund (IMF) - 2009

This paper examines several key global market conditions, such as a proxy for market uncertainty and measures of interbank funding stress, to assess financial volatility and the likelihood of crisis. Using Markov regime-switching techniques, it shows that the Lehman Brothers failure was a...

Persistent link: https://www.econbiz.de/10008460596

Medium-Term Determinants of Current Accounts in Industrial and Developing Countries; An Empirical Exploration

Chinn, Menzie David; Prasad, Eswar - International Monetary Fund (IMF) - 2000

This paper provides an empirical investigation of the medium-term determinants of current accounts for a large sample of industrial and developing countries. The analysis is based on a structural approach that highlights the roles of the fundamental macroeconomic determinants of saving and...

Persistent link: https://www.econbiz.de/10005605331

How Does Financial Globalization Affect Risk Sharing? Patterns and Channels

Terrones, Marco; Kose, M. Ayhan; Prasad, Eswar - International Monetary Fund (IMF) - 2007

In theory, one of the main benefits of financial globalization is that it should allow for more efficient international risk sharing. This paper provides a comprehensive empirical evaluation of the patterns of risk sharing among different groups of countries and examines how international...

Persistent link: https://www.econbiz.de/10005263747

Financial Globalization; A Reappraisal

Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - International Monetary Fund (IMF) - 2006

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels and with a variety of apparently conflicting results. For instance, there is still little robust evidence of the growth benefits of broad...

Persistent link: https://www.econbiz.de/10005263828