The Diagnostic Financial Accelerator

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The Diagnostic Financial Accelerator

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Author : Lahcen Bounader
language : en
Publisher: International Monetary Fund
Release Date : 2024-06-28

The Diagnostic Financial Accelerator written by Lahcen Bounader 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 2024-06-28 with categories.

We develop a model with diagnostic expectations (DE) and a financial accelerator (FA) that generates mutually reinforcing shock amplification, especially in the case of demand shocks. However, supply shocks can be dampened via a debt deflation channel, which is strengthened amid DE. Importantly, the model results in a worsening of the inflation-output volatility trade-off confronting policymakers. In contrast to most of the literature—which argues against targeting the level of asset prices—our financial accelerator model with DE suggests that targeting house price growth may result in welfare gains.

The Riskiness Of Credit Allocation And Financial Stability

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Author : Mr.Luis Brandao-Marques
language : en
Publisher: International Monetary Fund
Release Date : 2019-09-27

The Riskiness Of Credit Allocation And Financial Stability written by Mr.Luis Brandao-Marques 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 2019-09-27 with Business & Economics categories.

We explore empirically how the time-varying allocation of credit across firms with heterogeneous credit quality matters for financial stability outcomes. Using firm-level data for 55 countries over 1991-2016, we show that the riskiness of credit allocation, captured by Greenwood and Hanson (2013)’s ISS indicator, helps predict downside risks to GDP growth and systemic banking crises, two to three years ahead. Our analysis indicates that the riskiness of credit allocation is both a measure of corporate vulnerability and of investor sentiment. Economic forecasters wrongly predict a positive association between the riskiness of credit allocation and future growth, suggesting a flawed expectations process.

Global Financial Stability Report April 2018

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Author : International Monetary Fund. Monetary and Capital Markets Department
language : en
Publisher: International Monetary Fund
Release Date : 2018-04-18

Global Financial Stability Report April 2018 written by International Monetary Fund. Monetary and Capital Markets Department 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 2018-04-18 with Business & Economics categories.

The April 2018 Global Financial Stability Report (GFSR) finds that short-term risks to financial stability have increased somewhat since the previous GFSR. Medium-term risks are still elevated as financial vulnerabilities, which have built up during the years of accommodative policies, could mean a bumpy road ahead and put growth at risk. This GFSR also examines the short- and medium-term implications for downside risks to growth and financial stability of the riskiness of corporate credit allocation. It documents the cyclical nature of the riskiness of corporate credit allocation at the global and country levels and its sensitivity to financial conditions, lending standards, and policy and institutional settings. Another chapter analyzes whether and how house prices move in tandem across countries and major cities around the world—that is, global house price synchronicity.

In Fed We Trust

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Author : David Wessel
language : en
Publisher: Crown Currency
Release Date : 2009-08-04

In Fed We Trust written by David Wessel and has been published by Crown Currency this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-08-04 with Business & Economics categories.

“Whatever it takes” That was Federal Reserve Chairman Ben Bernanke’s vow as the worst financial panic in more than fifty years gripped the world and he struggled to avoid the once unthinkable: a repeat of the Great Depression. Brilliant but temperamentally cautious, Bernanke researched and wrote about the causes of the Depression during his career as an academic. Then when thrust into a role as one of the most important people in the world, he was compelled to boldness by circumstances he never anticipated. The president of the United States can respond instantly to a missile attack with America’s military might, but he cannot respond to a financial crisis with real money unless Congress acts. The Fed chairman can. Bernanke did. Under his leadership the Fed spearheaded the biggest government intervention in more than half a century and effectively became the fourth branch of government, with no direct accountability to the nation’s voters. Believing that the economic catastrophe of the 1930s was largely the fault of a sluggish and wrongheaded Federal Reserve, Bernanke was determined not to repeat that epic mistake. In this penetrating look inside the most powerful economic institution in the world, David Wessel illuminates its opaque and undemocratic inner workings, while revealing how the Bernanke Fed led the desperate effort to prevent the world’s financial engine from grinding to a halt. In piecing together the fullest, most authoritative, and alarming picture yet of this decisive moment in our nation’s history, In Fed We Trust answers the most critical questions. Among them: • What did Bernanke and his team at the Fed know–and what took them by surprise? Which of their actions stretched–or even ripped through–the Fed’s legal authority? Which chilling numbers and indicators made them feel they had no choice? • What were they thinking at pivotal moments during the race to sell Bear Stearns, the unsuccessful quest to save Lehman Brothers, and the virtual nationalization of AIG, Fannie Mae, and Freddie Mac? What were they saying to one another when, as Bernanke put it to Wessel: “We came very close to Depression 2.0”? • How well did Bernanke, former treasury secretary Hank Paulson, and then New York Fed president Tim Geithner perform under intense pressure? • How did the crisis prompt a reappraisal of the once-impregnable reputation of Alan Greenspan? In Fed We Trust is a breathtaking and singularly perceptive look at a historic episode in American and global economic history.

The Idealist

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Author : Samuel Zipp
language : en
Publisher: Belknap Press
Release Date : 2020-03-10

The Idealist written by Samuel Zipp and has been published by Belknap Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-03-10 with History categories.

Winner of the Robert H. Ferrell Book Prize “The Idealist is a powerful book, gorgeously written and consistently insightful. Samuel Zipp uses the 1942 world tour of Wendell Willkie to examine American attitudes toward internationalism, decolonization, and race in the febrile atmosphere of the world’s first truly global conflict.” —Andrew Preston, author of Sword of the Spirit, Shield of Faith A dramatic account of the plane journey undertaken by businessman-turned-maverick-internationalist Wendell Willkie to rally US allies to the war effort. Willkie’s tour of a planet shrunk by aviation and war inspired him to challenge Americans to fight a rising tide of nationalism at home. In August 1942, as the threat of fascism swept the world, a charismatic Republican presidential contender boarded the Gulliver at Mitchel Airfield for a seven-week journey around the world. Wendell Willkie covered 31,000 miles as President Roosevelt’s unofficial envoy. He visited the battlefront in North Africa with General Montgomery, debated a frosty de Gaulle in Beirut, almost failed to deliver a letter to Stalin in Moscow, and allowed himself to be seduced by Chiang Kai-shek in China. Through it all, he was struck by the insistent demands for freedom across the world. In One World, the runaway bestseller he published on his return, Willkie challenged Americans to resist the “America first” doctrine espoused by the war’s domestic opponents and warned of the dangers of “narrow nationalism.” He urged his fellow citizens to end colonialism and embrace “equality of opportunity for every race and every nation.” With his radio broadcasts regularly drawing over 30 million listeners, he was able to reach Americans directly in their homes. His call for a more equitable and interconnected world electrified the nation, until he was silenced abruptly by a series of heart attacks in 1944. With his death, America lost its most effective globalist, the man FDR referred to as “Private Citizen Number One.” At a time when “America first” is again a rallying cry, Willkie’s message is at once chastening and inspiring, a reminder that “one world” is more than a matter of supply chains and economics, and that racism and nationalism have long been intertwined.

Financial Frictions And Sources Of Business Cycle

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Author : Marzie Taheri Sanjani
language : en
Publisher: International Monetary Fund
Release Date : 2014-10-23

Financial Frictions And Sources Of Business Cycle written by Marzie Taheri Sanjani 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 2014-10-23 with Business & Economics categories.

This paper estimates a New Keynesian DSGE model with an explicit financial intermediary sector. Having measures of financial stress, such as the spread between lending and borrowing, enables the model to capture the impact of the financial crisis in a more direct and efficient way. The model fits US post-war macroeconomic data well, and shows that financial shocks play a greater role in explaining the volatility of macroeconomic variables than marginal efficiency of investment (MEI) shocks.

The Business Review

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Author :
language : en
Publisher:
Release Date : 2010

The Business Review written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with United States categories.

Handbook Of Research On Acceleration Programs For Smes

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Author : Lisboa, Inês
language : en
Publisher: IGI Global
Release Date : 2022-12-19

Handbook Of Research On Acceleration Programs For Smes written by Lisboa, Inês and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-12-19 with Business & Economics categories.

The international financial crisis of 2007 and 2008 and the situation caused by the COVID-19 pandemic have had a great impact on many firms’ financial needs. Simultaneously, several emerging countries have bet on boosting private initiatives as a way to diversify their economies and create jobs and wealth for their populations. New forms of financing have appeared that have impacted the firm’s capital structure, cost of capital, and access to finance by underprivileged communities that are normally outside the formal economy. The Handbook of Research on Acceleration Programs for SMEs provides and shares knowledge on the financial mix, alternative forms of finance, capital structure, and more. It calls attention to relevant challenges, financial institutions, and governments to guarantee funds and economic and social development with new competencies, innovations, new ways of investing, entrepreneurship, and business models with new public policies. Covering topics such as earnings management, capital structure, and foreign exchange, this major reference work is an essential resource for government officials, business leaders and executives, economists, sociologists, students and faculty of higher education, librarians, researchers, and academicians.

Microeconomics Of Banking Third Edition

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Author : Xavier Freixas
language : en
Publisher: MIT Press
Release Date : 2023-08-22

Microeconomics Of Banking Third Edition written by Xavier Freixas and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-08-22 with Business & Economics categories.

The third edition of a leading text on the microeconomic foundations of banking, comprehensively updated with new coverage of the 2008 Global Financial Crisis, fintech, and the latest research in banking theory. The banking industry has undergone seismic change in the twenty-first century, from the overhaul of regulation in the wake of the 2008 Global Financial Crisis to the digitalization of the economy and the disruption of traditional business models by ascendant tech giants. Now in a comprehensively updated third edition, this essential graduate-level text on the microeconomic foundations of banking provides the rigorous theoretical approach required to understand these new structures and norms, functioning as a user’s guide to recent academic literature. Microeconomics of Banking offers a comprehensive view of the evolution of banking theory and the rapidly changing realm of financial intermediation, examining the central issues and offering the necessary tools for understanding how they have been modeled. New edition highlights: Up-to-date coverage of the latest research in banking theory as well as the events of the global financial crisis and resultant Basel III regulatory framework New chapters on liquidity and systemic risk New material throughout on cryptocurrencies, fintech, and other facets of a digitalized economy

Handbook Of International Economics

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Author :
language : en
Publisher: Elsevier
Release Date : 2022-04-07

Handbook Of International Economics written by and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-04-07 with Business & Economics categories.

Handbook of International Economics, Sixth Edition provides a definitive reference for researchers and advanced graduate students. The book includes self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists. These surveys summarize not only received results but also newer developments from journal articles and discussion papers. Chapters cover The Global Financial Cycle, Dominant Currency Paradigm: a review, Rethinking exchange rate regimes, CIP deviations, the dollar, and frictions in international capital markets, International macroeconomics with imperfect financial markets, The prudential use of capital controls and foreign currency reserves, and Financial crises: a survey. - Provides the authority and expertise of leading contributors from an international board of authors - Presents the latest release in the Handbook of International Economics series - Includes self-contained surveys of the current state of a branch of economics in the form of chapters prepared by leading specialists