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Measures of compliance with sustainable development objectives adopted by Romania in the pre-and post-accession
Duduiala-Popescu, Lorena - 2008
Developing the National Strategy for Sustainable Development (SNDD) is the result of the obligation assumed by Romania, as a member of the European Union, in accordance with the objectives agreed at EU and methodological prescriptions of the European Commission. Defining element of this policy...
Persistent link: https://www.econbiz.de/10015215218
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Equity Returns and Business Cycles in Small Open Economies
Jahan-Parvar, Mohammad R.; Liu, Xuan; Rothman, Philip - 2009
This is the first paper in the literature to match key business cycle moments and long-run equity returns in a small open economy with production. These results are achieved by introducing three modications to a standard real business cycle model: (1) borrowing and lending costs are imposed to...
Persistent link: https://www.econbiz.de/10015217375
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Capital mobility and macroeconomic volatility: evidence from Greece
Anastasios, Pappas - 2010
This paper focuses on the impact of full capital account liberalization on macroeconomic volatility in Greece. According to the standard neoclassical model, such liberalization is to be desired because, among other advantages, it may reduce macroeconomic volatility. The link between...
Persistent link: https://www.econbiz.de/10015225784
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The equity premium in a small open economy, and an application to Israel
Borenstein, Eliezer; Elkayam, David - 2013
In this paper we attempt to reproduce both the business cycle facts and the equity premium of the Israeli economy—an economy which is "typical" in the sense that investment is much more volatile than output (and consumption). We show that GHH preferences, which are quite common in RBC models...
Persistent link: https://www.econbiz.de/10015235419
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Global Financial Risk, Domestic Financial Access, and Unemployment Dynamics
Epstein, Brendan; Finkelstein Shapiro, Alan; Gonzalez … - 2018
We empirically show that after an increase in global financial risk, the response of unemployment is markedly more subdued in emerging economies (EMEs) relative to small open advanced economies (SOAEs), while the differential response of GDP and investment across the two country groups is...
Persistent link: https://www.econbiz.de/10015261427
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Financial Development, Unemployment Volatility, and Sectoral Dynamics
Epstein, Brendan; Finkelstein Shapiro, Alan - 2018
credit can rationalize these differential cross-country results. Un- employment volatility is decreasing in financial … development, but the quantitative relevance of this relationship is increasing in the extent to which input credit is prevalent in … an economy. This insight is consistent with the fact that, empirically, input credit is much more prominent in DEMEs …
Persistent link: https://www.econbiz.de/10015261428
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Banking and Financial Participation Reforms, Labor Markets, and Financial Shocks
Epstein, Brendan; Finkelstein Shapiro, Alan - 2017
The degree of bank competition as well as firms’ and households’ participation in the domestic banking system differ considerably in emerging economies (EMEs) relative to advanced economies (AEs). We build a small-open-economy model with endogenous firm entry, monopolistic banks, household...
Persistent link: https://www.econbiz.de/10015261430
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Private Overborrowing under Sovereign Risk
Arce, Fernando - 2021
This paper proposes a quantitative theory of the interaction between private and public debt in an open economy. Excessive private debt increases the frequency of financial crises. During such crises the government provides fiscal bailouts financed with risky public debt. This response may cause...
Persistent link: https://www.econbiz.de/10015267942
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Digital waves in economics
Ledenyov, Dimitri O.; Ledenyov, Viktor O. - 2015
The recent discovery of the Ledenyov digital waves in the economies of scale and scope led to an origination of considerable scientific interest in the modeling of new types of the discrete-time digital signals generators for the business cycles generation in the macroeconomics. Article aims: 1)...
Persistent link: https://www.econbiz.de/10015247824
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Digital waves in economics
Ledenyov, Dimitri O.; Ledenyov, Viktor O. - 2015
The recent discovery of the Ledenyov digital waves in the economies of scale and scope led to an origination of considerable scientific interest in the modeling of new types of the discrete-time digital signals generators for the business cycles generation in the macroeconomics. Article aims: 1)...
Persistent link: https://www.econbiz.de/10015247928