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The Great Recession: a self-fulfilling global panic

Bacchetta, Philippe; Van Wincoop, Eric - 2013

While the 2008-2009 financial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and financial markets, what can account...

Persistent link: https://www.econbiz.de/10010222107

Exposure to international crises : trade vs. financial contagion

Grant, Everett - 2016

primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …

Persistent link: https://www.econbiz.de/10011975657

Exposure to International Crises : Trade vs. Financial Contagion

Grant, Everett - 2016

through them. The results suggest credit disruption as the primary contagion driver, rather than the trade channel. Given this … substantial degree of financial contagion, I run a series of counterfactuals studying the efficacy of capital controls and find … that they would be a useful tool for preventing similarly severe contagion in the future, as long as there is not capital …

Persistent link: https://www.econbiz.de/10013003813

Exposure to International Crises : Trade vs. Financial Contagion

Grant, Everett - 2017

Persistent link: https://www.econbiz.de/10012968486

Exposure to International Crises : Trade vs. Financial Contagion

Grant, Everett - 2021

Persistent link: https://www.econbiz.de/10013248855

Foreign customer accumulation and export dynamics

Tjaden, Volker - 2013

I present a dynamic fixed cost model of export participation extended by a capital theoretic concept of the customer stock. Plants that want to start exporting have to invest into a market specific factor which serves as input into a decreasing returns to scale technology generating sales...

Persistent link: https://www.econbiz.de/10010191654

The Great Recession : a self-fulfilling global panic

Bacchetta, Philippe; Van Wincoop, Eric - 2013

While the 2008-2009 fi nancial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and fi nancial markets, what can account...

Persistent link: https://www.econbiz.de/10009751195

Chapter 13. Accounting for Business Cycles

Brinca, P.; Chari, V.V.; Kehoe, P.J.; McGrattan, E. - In: Handbook of macroeconomics : volume 2, v. 2A-2B SET, (pp. 1013-1063). 2016

We elaborate on the business cycle accounting method proposed by Chari et al. (2006) , clear up some misconceptions about the method, and then apply it to compare the Great Recession across OECD countries as well as to the recessions of the 1980s in these countries. We have four main findings....

Persistent link: https://www.econbiz.de/10014024267

Missing disinflation and missing inflation : the puzzles that aren't

Bobeica, Elena; Jarociński, Marek - Task Force on Low Inflation (LIFT) - 2017

In the immediate wake of the Great Recession we didn't see the disinflation that most models predicted and, subsequently, we didn't see the inflation they predicted. We show that these puzzles disappear in a Vector Autoregressive model that properly accounts for domestic and global factors. Such...

Persistent link: https://www.econbiz.de/10011636259

Economic integration and the exchange rate regime : how damaging are currency crises?

Weber, Axel A.; Beck, Günter W. - 2003 - This version: October 2003

We use consumer price data for 205 cities/regions in 21 countries to study PPP deviations before, during and after the major currency crises of the 1990s. We combine data from industrialized nations in North America (Unites States, Canada and Mexico), Europe (Germany, Italy, Spain and Portugal),...

Persistent link: https://www.econbiz.de/10009767677