The Effect Of Financial Crises On Potential Output
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The Effect Of Financial Crises On Potential Output
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Author : Davide Furceri
language : en
Publisher:
Release Date : 2009
The Effect Of Financial Crises On Potential Output written by Davide Furceri and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Effect Of Financial Crises On Potential Output
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Author :
language : en
Publisher:
Release Date : 2009
Effect Of Financial Crises On Potential Output written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Impact Of The Current Economic And Financial Crisis On Potential Output
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Author : European Commission. Directorate-General for Economic and Financial Affairs
language : en
Publisher:
Release Date : 2009
Impact Of The Current Economic And Financial Crisis On Potential Output written by European Commission. Directorate-General for Economic and Financial Affairs and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
The Effect Of The Global Financial Crisis On Oecd Potential Output
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Author : Patrice Ollivaud
language : en
Publisher:
Release Date : 2014
The Effect Of The Global Financial Crisis On Oecd Potential Output written by Patrice Ollivaud and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Do Recessions Affect Potential Output
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Author : Jane Haltmaier
language : en
Publisher:
Release Date : 2013-05-12
Do Recessions Affect Potential Output written by Jane Haltmaier and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-12 with Business & Economics categories.
A number of studies have looked at the effect of financial crises on actual output several years beyond the crisis. This study examines whether the growth of potential output also is affected by recessions, whether or not they include financial crises. Trend per capita output growth is calculated using HP filters, and average growth is compared for the two years preceding a recession, the two years immediately following a recession peak, and the two years after that. Panel regressions are run to determine whether characteristics of recessions, including depth, length, extent to which they are synchronized across countries, and whether or not they include a financial crisis, can explain the cumulative four-year loss in the level of potential output following an output peak preceding a recession. The main result is that the depth of a recession has a significant effect on the loss of potential for advanced countries, while the length is important for emerging markets. These results imply that the Great Recession might have resulted in declines in trend output growth averaging about 3% for the advanced economies, but appear to have had little effect on emerging market trend growth. Figures and tables. This is a print on demand report.
Effect Of The Global Financial Crisis On Oecd Potential Output
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Author :
language : en
Publisher:
Release Date : 2014
Effect Of The Global Financial Crisis On Oecd Potential Output written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with categories.
Output Gap In Presence Of Financial Frictions And Monetary Policy Trade Offs
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Author : Francesco Furlanetto
language : en
Publisher: International Monetary Fund
Release Date : 2014-07-18
Output Gap In Presence Of Financial Frictions And Monetary Policy Trade Offs written by Francesco Furlanetto 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 2014-07-18 with Business & Economics categories.
The recent global financial crisis illustrates that financial frictions are a significant source of volatility in the economy. This paper investigates monetary policy stabilization in an environment where financial frictions are a relevant source of macroeconomic fluctuation. We derive a measure of output gap that accounts for frictions in financial market. Furthermore we illustrate that, in the presence of financial frictions, a benevolent central bank faces a substantial trade-off between nominal and real stabilization; optimal monetary policy significantly reduces fluctuations in price and wage inflations but fails to alleviate the output gap volatility. This suggests a role for macroprudential policies.
The Financial Crisis
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Author : P. Arestis
language : en
Publisher: Springer
Release Date : 2010-11-24
The Financial Crisis written by P. Arestis and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-24 with Business & Economics categories.
The 2008 financial crisis poses three fundamental questions for economists and policy makers; understanding the origins of the crisis, understanding the consequences of this crisis for the world economy, and finally understanding why the 2008 financial crisis is not as serious as the 1929 crisis. The prevailing view is that the 2008 financial crisis was solely the result of inadequate financial regulation together with a very loose monetary policy conducted by central banks, especially the Fed. It is believed that this crisis is a temporary detour in the normal course of the events, so that in the near future capitalist economies will resume the high growth path observed before the crisis. In terms of the third question, there is a widespread view that the fundamental reason that explains the avoidance of the harmful experiences of 1929 was the fiscal and monetary policy expansions in developed countries. No important role is assigned to developing countries in terms of the effects of the financial crisis. This book challenges the prevailing orthodoxy surrounding the origins and the consequences of the 2008 financial crisis. The book demonstrates that measures in addition to a profound change in the financial regulation are required if a new financial crisis is to be avoided in the future, measures include: a change in the conduct of economic policy; a reform of the national and international monetary systems; and a radical change in the pattern of income distribution. This book is essential reading for all interested in macroeconomics, monetary policy, development economics and the global impact of the financial crisis.
Booms Crises And Recoveries A New Paradigm Of The Business Cycle And Its Policy Implications
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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2017-11-16
Booms Crises And Recoveries A New Paradigm Of The Business Cycle And Its Policy Implications written by Ms.Valerie Cerra 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 2017-11-16 with Business & Economics categories.
All types of recessions, on average, not just those associated with financial and political crises (as in Cerra and Saxena, AER 2008), lead to permanent output losses. These findings have far-reaching conceptual and policy implications. A new paradigm of the business cycle needs to account for shifts in trend output and the puzzling inconsistency of output dynamics with other cyclical components of production. The ‘output gap’ can be ill-conceived, poorly measured, and inconsistent over time. Persistent losses require more buffers and crisis-avoidance policies, affecting tradeoffs in prudential, macroeconomic, and reserve management policies. The frequency and depth of crises are key determinants of long-term growth and drive a new stylized model of economic development.
The Great Recession And Developing Countries
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Author : Mustapha K. Nabli
language : en
Publisher: World Bank Publications
Release Date : 2010-12-03
The Great Recession And Developing Countries written by Mustapha K. Nabli 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 2010-12-03 with Business & Economics categories.
The book provides one of the most detailed and comprehensive reviews of the growth experience of a group of low and middle income countries before and during the global crisis. It then explores their growth prospects after the recovery and how they may be shaped by the new global economic environment.