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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/10013112302
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Growth-Promoting Policies and Macroeconomic Stability
Sutherland, Douglas; Höller, Peter - 2013
Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...
Persistent link: https://www.econbiz.de/10014151193
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Ongoing Changes in the Business Cycle: Evidence and Causes
Dalsgaard, Thomas; Elmeskov, Jørgen; Park, Cyn-Young - Economics Department, Organisation de Coopération et … - 2002
This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical...
Persistent link: https://www.econbiz.de/10005046149
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The Effectiveness of Monetary Policy since the Onset of the Financial Crisis
Bouis, Romain; Rawdanowicz, Łukasz; Renne, Jean-Paul; … - Economics Department, Organisation de Coopération et … - 2013
policy interest rate cuts and unconventional policy measures to higher asset prices and lower cost of credit in and outside … willingness to supply credit. The paper also stresses that the monetary accommodation risks having unintended negative … conventionnelles de politique monétaire à des prix d’actifs plus élevés et un coût du crédit plus faible à l’intérieur et à l …
Persistent link: https://www.econbiz.de/10011276812
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China's March to Prosperity: Reforms to Avoid the Middle-income Trap
Koen, Vincent; Herd, Richard; Hill, Sam - Economics Department, Organisation de Coopération et … - 2013
China is well-placed to avoid the so-called “middle-income trap” and to continue to converge towards the more advanced economies, even though growth is likely to slow from near double-digit rates in the first decade of this millennium to around 7% at the 2020 horizon. However, in order to...
Persistent link: https://www.econbiz.de/10011277005
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Entry, Exit, and Aggregate Productivity Growth: Micro Evidence on Korean Manufacturing
Hahn, Chin Hee - Economics Department, Organisation de Coopération et … - 2000
Using plant level panel data on Korean manufacturing during the 1990-98 period, this study tries to assess the role of entry and exit in enhancing aggregate productivity, both qualitatively and quantitatively. The main findings of this study are summarised as follows. First, plant entry and exit...
Persistent link: https://www.econbiz.de/10005045710
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Growth-promoting Policies and Macroeconomic Stability
Sutherland, Douglas; Hoeller, Peter - Economics Department, Organisation de Coopération et … - 2013
Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy’s vulnerability to shocks and their propagation. Macroeconomic shocks as severe and protracted as those since 2007 warrant a reconsideration of the role growth-promoting policies...
Persistent link: https://www.econbiz.de/10011276802
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Entry, Exit, and Aggregate Productivity Growth : Micro Evidence on Korean Manufacturing
Hahn, Chin Hee - 2000
Using plant level panel data on Korean manufacturing during the 1990-98 period, this study tries to assess the role of entry and exit in enhancing aggregate productivity, both qualitatively and quantitatively. The main findings of this study are summarised as follows. First, plant entry and exit...
Persistent link: https://www.econbiz.de/10012445716
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Quantifying the Effect of Financial Conditions on US Activity
Guichard, Stéphanie; Turner, David - Economics Department, Organisation de Coopération et … - 2008
of the credit crisis there has been a marked tightening in financial conditions, despite a substantial easing of policy … depuis le début de la crise du crédit, les conditions financières se sont fortement resserrées malgré la baisse substantielle … restrictif de l’accès au crédit bancaire. Ces derniers ont été les principaux facteurs conduisant á un durcissement des …
Persistent link: https://www.econbiz.de/10005045627
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Quantifying the Effect of Financial Conditions in the Euro Area, Japan, United Kingdom and United States
Guichard, Stéphanie; Haugh, David; Turner, David - Economics Department, Organisation de Coopération et … - 2009
on the economy. In addition to changes in the exchange rate and short and long interest rates, the change in credit … des taux d’intérêt à court et long terme, l’évolution de la disponibilité du crédit, des primes de risques sur les …
Persistent link: https://www.econbiz.de/10005045871