Showing 1 - 10 of 1,860
markets. More specifically, a tighter level of regulation reducesthe sensitivity of GDP growth to VIX movements and capital …
Persistent link: https://www.econbiz.de/10012828057
This paper assesses the implications of Chinese capital account liberalization for capital flows. Stylized facts from capital account liberalization in advanced and large emerging market economies illustrate that capital account liberalization has historically generated large gross capital in-...
Persistent link: https://www.econbiz.de/10013075542
This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of advanced and emerging market economies. It finds that a common component, 'global...
Persistent link: https://www.econbiz.de/10012927458
Consider two views of the global financial crisis. One view looks across the border: it blames external imbalances, the unprecedented current account deficits and surpluses in recent years. Another view looks within the border: it faults domestic financial systems where risks originated in...
Persistent link: https://www.econbiz.de/10013060542
This paper assesses the costs of internal trade barriers and proposes policies to improve internal trade. Estimates suggest that complete liberalization of internal trade in goods can increase GDP per capita by about 4 percent and reallocate employment towards provinces that experience large...
Persistent link: https://www.econbiz.de/10012864110
stagnation (Meade, 1961). We use growth accounting to analyze the sources of past growth and project potential ranges of growth … through 2033. Growth averaged 41/2 percent over the past 20 years. Our baseline suggests future growth rates around 31 …/4 percent, but growth could reach 4-5 percent with strong pro-active policies including (i) improving investment and savings …
Persistent link: https://www.econbiz.de/10012950441
This paper explores the connection between interest rates in major industrial countries and annual real output growth … GDP growth in the domestic economy, but that this effect is centered on countries with fixed exchange rates. The paper …
Persistent link: https://www.econbiz.de/10012755558
and rapid growth, data availability is only partial. During the 2008 financial crisis, policy makers, notably the G20 …
Persistent link: https://www.econbiz.de/10012864103
Over the past two decades, Mexico has hedged oil price risk through the purchase of putoptions. We examine the resulting welfare gains using a standard sovereign default modelcalibrated to Mexican data. We show that hedging increases welfare by reducing incomevolatility and reducing risk spreads...
Persistent link: https://www.econbiz.de/10012924997
This paper borrows the tradition of estimating policy reaction functions from monetary policy literature to ask whether capital controls respond to macroprudential or mercantilist motivations. I explore this question using a novel, weekly dataset on capital control actions in 21 emerging...
Persistent link: https://www.econbiz.de/10012829284