Global Shocks
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Global Shocks And Their Impacton Low Income Countries
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Author : Hans Weisfeld
language : en
Publisher: International Monetary Fund
Release Date : 2011-02-01
Global Shocks And Their Impacton Low Income Countries written by Hans Weisfeld and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-02-01 with Business & Economics categories.
This paper investigates the short-run effects of the 2007-09 global financial crisis on growth in (mainly non-fuel exporting) low-income countries (LICs). Four conclusions stand out. First, for many individual LICs, 2009 was not extraordinarily calamitous; however, aggregate LIC output declined sharply because LICs were unusually synchronized. Second, the growth declines are on average well explained by the decline in export demand. Third, if the external environment facing LICs improves as forecast, their growth should rebound sharply. Finally, and contrary to received wisdom, there are few robust relationships between the cross-country growth variation and the policy and structural environment; the main exceptions are reserve coverage and labor-market flexibility.
Global Shocks
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Author : Nicholas P. Sargen
language : en
Publisher: Springer
Release Date : 2016-10-05
Global Shocks written by Nicholas P. Sargen and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-10-05 with Business & Economics categories.
This book, which is written from a practitioner’s perspective, fills the void by providing the reader with a toolkit and guiding principles to manage money when markets are in turmoil. It features ten case studies beginning with the breakdown of the Bretton Woods fixed exchange rate system through the current situation in which investors are assessing whether China could become the next bubble. Each chapter discusses how the respective crisis or bubble unfolded at the time, the way policymakers and markets responded, and the optimal strategy for positioning portfolios. The goal is to share these experiences and the lessons from them, so investors will be better prepared for future shocks. The opening chapter explores whether there are common patterns in movements of interest rates and exchange rates that investors can exploit. A conceptual framework is presented that helps explain why this is the case for traditional currency crises, but less so for asset bubbles. The concluding chapter ties the episodes together and considers how the nature of financial crises has evolved since the collapse of Bretton Woods. We cite factors that make it difficult for policymakers and investors to detect problems in advance of an asset bubble. The good news is investors get a second chance to outperform when markets are over-sold; however, they need to formulate a strategy to limit the damage during the sell-off phase and to capitalize on the eventual recovery.
Oecd Reviews Of Risk Management Policies Future Global Shocks Improving Risk Governance
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2011-08-23
Oecd Reviews Of Risk Management Policies Future Global Shocks Improving Risk Governance written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-23 with categories.
This report provides strategic advice on preparing for and responding to potential global shocks.
Oecd Reviews Of Risk Management Policies Future Global Shocks Improving Risk Governance
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Author : OECD
language : en
Publisher: OECD Publishing
Release Date : 2011-08-04
Oecd Reviews Of Risk Management Policies Future Global Shocks Improving Risk Governance written by OECD and has been published by OECD Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-04 with categories.
This report provides strategic advice on preparing for and responding to potential global shocks.
Global Shocks And The New Global And Regional Financial Architecture
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Author : Naoyuki Yoshino
language : en
Publisher:
Release Date : 2018
Global Shocks And The New Global And Regional Financial Architecture written by Naoyuki Yoshino and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Business & Economics categories.
Asian economies continue to be subject to new shocks: US monetary policy tightening, the adoption of negative-interest-rate policies by central banks all over the world, the slowdown of the People's Republic of China, and the sharp drop in oil and other commodity prices. All these highlight the vulnerability of the region to volatile trade and capital flows even as the global and Asian regional financial architecture evolves. This volume analyzes the vulnerabilities of Asian economies to external economic and financial shocks and assesses the performance of Asian regional institutions in financial surveillance and cooperation. It also evaluates ongoing reforms of the global financial architecture, including the International Monetary Fund (IMF), the Financial Stability Board, and reviews the experience of the "Troika" (European Commission, European Central Bank, and the IMF) in managing the European sovereign debt and banking crisis. Based on these, the book develops valuable recommendations to strengthen the Asian regional financial architecture and improve cooperation with global multilateral institutions.
Network Effects Of International Shocks And Spillovers
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Author : Mr.Alexei Kireyev
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-07
Network Effects Of International Shocks And Spillovers written by Mr.Alexei Kireyev and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-07-07 with Business & Economics categories.
This paper proposes a method for assessing international spillovers from nominal demand shocks. It quantifies the impact of a shock in one country on all other countries. The paper concludes that the network effects in shock spillovers can be substantial, comparable, and often exceed the initial shock. Individual countries may amplify, absorb, or block spillovers. Most developed countries pass-through shocks, whereas low-income countries and oil exporters tend to block shock spillovers. The method is used to study demand shocks originating from a large and medium country, China and Ukraine respectively.
Do Credit Shocks Matter A Global Perspective
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Author : Mr.Ayhan Kose
language : en
Publisher: International Monetary Fund
Release Date : 2010-11-01
Do Credit Shocks Matter A Global Perspective written by Mr.Ayhan Kose and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-01 with Business & Economics categories.
This paper examines the importance of credit market shocks in driving global business cycles over the period 1988:1-2009:4. We first estimate common components in various macroeconomic and financial variables of the G-7 countries. We then evaluate the role played by credit market shocks using a series of VAR models. Our findings suggest that these shocks have been influential in driving global activity during the latest global recession. Credit shocks originating in the United States also have a significant impact on the evolution of world growth during global recessions.
Economic Shocks And The Global Environment
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Author : F. Desmond McCarthy
language : en
Publisher: World Bank Publications
Release Date :
Economic Shocks And The Global Environment written by F. Desmond McCarthy and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Global Financial Shocks And Foreign Asset Repatriation
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Author : Gustavo Adler
language : en
Publisher: International Monetary Fund
Release Date : 2014-04-16
Global Financial Shocks And Foreign Asset Repatriation written by Gustavo Adler and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-04-16 with Business & Economics categories.
We study the dynamic response of gross capital flows in emerging market economies to different global financial shocks, using a panel vector-autoregressive (PVAR) setting. Our focus lies primarily on the potentially stabilizing role played by domestic investors in offsetting the response of foreign investors to global shocks. We find evidence of such role, but its existence and magnitude depend on the nature of the shock. Local investors play a meaningful stabilizing role in the face of global uncertainty shocks, as well as shocks to long-term U.S. interest rates. However, while in the former case, sizeable asset repatriation largely offsets the retrenchment of non-residents, in the latter case the extent of the offsetting is much more limited. Meanwhile, residents and non-resident behave alike in response to short-term U.S. interest rate shocks, pulling capital away from emerging markets, although magnitudes are not economically significant. The results shed light on the potential impact of the Fed’s QE tapering on emerging market economies.
Understanding Inflation Dynamics The Role Of Global Shocks In Cemac
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Author : Johanna Tiedemann
language : en
Publisher: International Monetary Fund
Release Date : 2024-03-08
Understanding Inflation Dynamics The Role Of Global Shocks In Cemac written by Johanna Tiedemann and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-08 with Business & Economics categories.
As in the rest of the world, inflation in CEMAC surged more quickly and persistently than expected during the 2021–23 period. This paper examines the drivers of inflation dynamics and the contribution of global shocks to inflation persistence in CEMAC. We use a Phillips curve framework combined with the local projections method. Our results confirm the prominent role of global factors in driving inflation dynamics. Global commodity food and oil price fluctuations, and shipping costs are the main factors explaining the large variability in headline inflation. Further, we find that global price shocks have sizable and persistent effects on domestic headline inflation, with differences in the magnitude and speed of pass-through. The pass-through from commodity food price fluctuations to headline inflation is higher and more persistent than that of other global price shocks, reflecting the large share of food in the consumption baskets, which makes inflation more vulnerable to direct effects of international food shocks, but also larger second-round effects.