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Motivated by the events of the Great Recession, we estimate a time-varying structural VAR model with labor market variables to analyze the effects of a financial shock, focusing on the US. Our results point out that a tightening of financial conditions is highly detrimental for the labor market....
Persistent link: https://www.econbiz.de/10012951455
Motivated by the events of the Great Recession, we estimate a time-varying structural VAR model to analyze the effects of a financial shock on the labor market, focusing on the US. Our results indicate that a tightening of financial conditions is highly detrimental to the labor market. Moreover,...
Persistent link: https://www.econbiz.de/10012915129
This paper studies the sudden stop in capital flows that emerging markets experienced throughout the first months of the pandemic. First, we find that the sudden stop in capital flows was strongly affected by lower portfolio investments by non-bank financial intermediaries: for many emerging...
Persistent link: https://www.econbiz.de/10013233152
Persistent link: https://www.econbiz.de/10011941825
Persistent link: https://www.econbiz.de/10012817228
This paper explores how the sudden stop in capital flows to emerging market economies associated with the Covid-19 pandemic unfolded, the substantial policy responses that were needed to alleviate it, and the lessons we might draw from this episode. We identify four areas where further work...
Persistent link: https://www.econbiz.de/10014351925