Macroeconomic Volatility
DOWNLOAD
Download Macroeconomic Volatility PDF/ePub or read online books in Mobi eBooks. Click Download or Read Online button to get Macroeconomic Volatility book now. This website allows unlimited access to, at the time of writing, more than 1.5 million titles, including hundreds of thousands of titles in various foreign languages. If the content not found or just blank you must refresh this page
Macroeconomic Volatility Institutions And Financial Architectures
DOWNLOAD
Author : J. Fanelli
language : en
Publisher: Springer
Release Date : 2008-01-17
Macroeconomic Volatility Institutions And Financial Architectures written by J. Fanelli and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-01-17 with Business & Economics categories.
The deregulation of domestic financial markets and the capital account in developing countries has frequently been associated with financial turmoil and macro volatility. The book analyzes the experiences of several countries, drawing implications for building development-friendly domestic and international financial architectures.
Revisiting The Link Between Finance And Macroeconomic Volatility
DOWNLOAD
Author : Ms.Era Dabla-Norris
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-30
Revisiting The Link Between Finance And Macroeconomic Volatility written by Ms.Era Dabla-Norris 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 2013-01-30 with Business & Economics categories.
This paper examines the impact of financial depth on macroeconomic volatility using a dynamic panel analysis for 110 advanced and developing countries. We find that financial depth plays a significant role in dampening the volatility of output, consumption, and investment growth, but only up to a certain point. At very high levels, such as those observed in many advanced economies, financial depth amplifies consumption and investment volatility. We also find strong evidence that deeper financial systems serve as shock absorbers, mitigating the negative effects of real external shocks on macroeconomic volatility. This smoothing effect is particularly pronounced for consumption volatility in environments of high exposure - when trade and financial openness are high - suggesting significant gains from further financial deepening in developing countries.
Finance And Marcoeconomic Volatility
DOWNLOAD
Author : Cevdet Denizer
language : en
Publisher: World Bank Publications
Release Date : 2000
Finance And Marcoeconomic Volatility written by Cevdet Denizer 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 2000 with Banks and banking categories.
Countries with more developed financial sectors, experience fewer fluctuations in real per capita output, consumption, and investment growth. But the manner in which the financial sector develops matters. The relative importance of banks in the financial system is important in explaining consumption, and investment volatility. The proportion of credit provided to the private sector, best explains volatility of consumption, and output. The authors generate their main results using fixed-effects estimates with panel data from seventy countries for the years 1956-98. Their general findings suggest that the risk management, and information processing provided by banks, maybe especially important in reducing consumption, and investment volatility. The simple availability of credit to the private sector, probably helps smooth consumption, and GDP.
Financial Integration And Macroeconomic Volatility
DOWNLOAD
Author : Mr.Ayhan Kose
language : en
Publisher: International Monetary Fund
Release Date : 2003-03-01
Financial Integration And Macroeconomic Volatility 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 2003-03-01 with Business & Economics categories.
This paper examines the impact of international financial integration on macroeconomic volatility in a large group of industrial and developing economies over the period 1960-99. We report two major results: First, while the volatility of output growth has, on average, declined in the 1990s relative to the three preceding decades, we also document that, on average, the volatility of consumption growth relative to that of income growth has increased for more financially integrated developing economies in the 1990s. Second, increasing financial openness is associated with rising relative volatility of consumption, but only up to a certain threshold. The benefits of financial integration in terms of improved risk-sharing and consumption-smoothing possibilities appear to accrue only beyond this threshold.
Volatility And Growth
DOWNLOAD
Author : Viktoria Hnatkovska
language : en
Publisher: World Bank Publications
Release Date : 2004
Volatility And Growth written by Viktoria Hnatkovska 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 2004 with Business cycles categories.
Macroeconomic Volatility And Stock Market Volatility Worldwide
DOWNLOAD
Author : Francis X. Diebold
language : en
Publisher:
Release Date : 2008
Macroeconomic Volatility And Stock Market Volatility Worldwide written by Francis X. Diebold and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Macroeconomics categories.
Notwithstanding its impressive contributions to empirical financial economics, there remains a significant gap in the volatility literature, namely its relative neglect of the connection between macroeconomic fundamentals and asset return volatility. We progress by analyzing a broad international cross section of stock markets covering approximately forty countries. We find a clear link between macroeconomic fundamentals and stock market volatilities, with volatile fundamentals translating into volatile stock markets.
Volatility And Growth
DOWNLOAD
Author : Viktoria Hnatkovska
language : en
Publisher:
Release Date : 2013
Volatility And Growth written by Viktoria Hnatkovska and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
The authors study the empirical, cross-country relationship between macroeconomic volatility and long-run economic growth. They address four central questions: 1) Does the volatility-growth link depend on country and policy characteristics, such as the level of development or trade openness? 2) Does this link reflect a statistically and economically significant causal effect from volatility to growth? 3) Has this relationship been stable over time and has it become stronger in recent decades? 4) Does the volatility-growth connection actually reveal the impact of crises rather than the overall effect of cyclical fluctuations? The authors find that macroeconomic volatility, and long-run economic growth are indeed negatively related. This negative link is exacerbated in countries that are poor, institutionally underdeveloped, undergoing intermediate stages of financial development, or unable to conduct counter-cyclical fiscal policies. They find evidence that this negative relationship actually reflects the harmful effect from volatility to growth. Furthermore, the authors find that the negative effect of volatility on growth has become considerably larger in the past two decades, and that it is mostly due to large recessions rather than normal cyclical fluctuations.
Macroeconomic Volatility In Reformed Latin America
DOWNLOAD
Author : Ricardo J. Caballero
language : en
Publisher: IDB
Release Date : 2001
Macroeconomic Volatility In Reformed Latin America written by Ricardo J. Caballero and has been published by IDB this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Managing Economic Volatility And Crises
DOWNLOAD
Author : Joshua Aizenman
language : en
Publisher: Cambridge University Press
Release Date : 2005-10-03
Managing Economic Volatility And Crises written by Joshua Aizenman and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-10-03 with Business & Economics categories.
Economic volatility has come into its own after being treated for decades as a secondary phenomenon in the business cycle literature. This evolution has been driven by the recognition that non-linearities, long buried by the economist's penchant for linearity, magnify the negative effects of volatility on long-run growth and inequality, especially in poor countries. This collection organizes empirical and policy results for economists and development policy practitioners into four parts: basic features, including the impact of volatility on growth and poverty; commodity price volatility; the financial sector's dual role as an absorber and amplifier of shocks; and the management and prevention of macroeconomic crises. The latter section includes a cross-country study, case studies on Argentina and Russia, and lessons from the debt default episodes of the 1980s and 1990s.
Volatility And Growth
DOWNLOAD
Author : Philippe Aghion
language : en
Publisher: OUP Oxford
Release Date : 2005-07-28
Volatility And Growth written by Philippe Aghion and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-07-28 with Business & Economics categories.
It has long been recognized that productivity growth and the business cycle are closely interrelated. Yet, until recently, the two phenomena have been investigated separately in the economics literature. This book provides the first consistent attempt to analyze the effects of macroeconomic volatility on productivity growth, and also the reverse causality from growth to business cycles. The authors show that by looking at the economy through the lens of private entrepreneurs, whoinvest under credit constraints, one can go some way towards explaining persistent macroeconomic volatility and the effects of volatility on growth.Beginning with an analysis of the effects of volatility on growth, the authors argue that the lower the level of financial development in a country the more detrimental the effect of volatility on growth. This prediction is confirmed by cross-country panel regressions. The data also suggests that a fixed exchange rate regime or more countercyclical budgetary policies are growth-enhancing in countries with a lower level of financial development. The former reduce aggregate volatility whereas thelatter reduce the negative effects of volatility on long-term productivity-enhancing investment by firms.The book concludes with an investigation into how the interplay between credit constraints and pecuniary externalities is sufficient to generate persistent business cycles and to explain the occurrence of currency crises.