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Osband, Kent - 1991

It is not unusual for reforming socialist economies to relax wage controls without hardening budget constraints on enterprises or freeing consumer goods prices. This policy can be dangerously destabilizing. While higher wages permit workers to purchase more of some goods, they also tend to...

Persistent link: https://www.econbiz.de/10014398407

The role of monetary policy in Turkey during the global financial crisis

Alp, Harun; Elekdaǧ, Selim Ali - 2011

Persistent link: https://www.econbiz.de/10009424807

The Role of Monetary Policy in Turkey During the Global Financial Crisis

Elekdaǧ, Selim Ali - 2011

Turkey is an interesting case study because it was one of the hardest hit emerging economies by the global financial … fallout from the crisis, the Central Bank of the Republic of Turkey (CBRT) decreased policy rates by an astounding 1025 basis …

Persistent link: https://www.econbiz.de/10014399210

The distributional impact of recessions : the Global Financial Crisis and the Pandemic Recession

Shibata, Ippei - 2020

Using the U.S. Current Population Survey data, this paper compares the distributional impacts of the Pandemic Crisis and those of the Global Financial Crisis in terms of (i) worker characteristics, (ii) job characteristics-'social' (where individuals interact to consume goods), 'teleworkable'...

Persistent link: https://www.econbiz.de/10012251998

The Real Effects of Financial Sector Interventions During Crises

Valencia, Fabian - 2011

We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy...

Persistent link: https://www.econbiz.de/10014402209

Corporate funding and the COVID-19 crisis

Deghi, Andrea; Seneviratne, Dulani; Tsuruga, Tomohiro; … - 2021

This paper assesses whether corporate liquidity needs in the G7 economies were met during the containment phase of the COVID-19 pandemic (February-June 2020) using various approaches to identify credit supply shocks. The pandemic crisis adversely affected nonfinancial corporate sector cash...

Persistent link: https://www.econbiz.de/10012518978

Predicting downside risks to house prices and macro-financial stability

Deghi, Andrea; Katagiri, Mitsuru; Shahid, Sohaib; … - 2020

This paper predicts downside risks to future real house price growth (house-prices-at-risk or HaR) in 32 advanced and … overvaluation, excessive credit growth, and tighter financial conditions jointly forecast higher house-prices-at-risk up to three … years ahead. House-prices-at-risk help predict future growth at-risk and financial crises. We also investigate and propose …

Persistent link: https://www.econbiz.de/10012252738

Systemic Risks and the Macroeconomy

Lucchetta, Marcella - 2010

This paper presents a modeling framework that delivers joint forecasts of indicators of systemic real risk and systemic … financial risk, as well as stress-tests of these indicators as impulse responses to structural shocks identified by standard … of out-of sample forecasting power for tail risk realizations of real activity for several countries, suggesting the …

Persistent link: https://www.econbiz.de/10014404310

Trade Finance and Trade Flows : Panel Data Evidence From 10 Crises

Ronci, Márcio Valério - 2004

This paper assesses the effect of constrained trade finance on trade flows in countries undergoing financial and balance of payments crises. Most of the countries that had a major crisis had a significant trade contraction, while trade-related finance declined sharply. However, trade may also be...

Persistent link: https://www.econbiz.de/10014404046

Economic policy uncertainty in Turkey

Jirasavetakul, La-Bhus Fah; Spilimbergo, Antonio - 2018

policy uncertainty (EPU) index for Turkey and assess how it affects Turkish firms. To disentangle the issues of endogeneity …

Persistent link: https://www.econbiz.de/10011978593