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Using data from more than 100 economies for the period of 1975 to 2005, we conduct an extensive empirical analysis of the determinants of international reserve holdings. Four groups of determinants, namely, traditional macro variables, financial variables, institutional variables, and dummy...
Persistent link: https://www.econbiz.de/10003850507
A large literature has documented that fiscal policy is procyclical in emerging markets and developing economies and acyclical/countercyclical in advanced economies. This paper analyzes fiscal procyclicality in commodity-exporting countries. It first shows that the degree of fiscal...
Persistent link: https://www.econbiz.de/10014322818
market inflows, and openness to foreign bank entry are found to reduce the vulnerability to financial contagion. Finally …, vulnerability to international bank balance-sheet shocks is found to be lower in situations of abundant global liquidity …, underlining the importance of adequate central bank reactions in situations of financial turmoil. …
Persistent link: https://www.econbiz.de/10009691018
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This paper presents and describes a new database of major minimum wage and collective bargaining reforms covering 26 advanced economies over the period 1970-2020. The main advantage of this dataset is the precise identification of the nature and date of major reforms, which is valuable in many...
Persistent link: https://www.econbiz.de/10013176915
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COVID-19 can be described as a heat-seeking missile speeding toward the most vulnerable in society. That metaphor applies not just to the vulnerable in the rich world; the vulnerable in the rest of the world are not more immune. Yet, despite the extensive spread of the virus, the mortality toll...
Persistent link: https://www.econbiz.de/10012241230
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