Macro-Financial Linkages in Shallow Markets PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Macro-Financial Linkages in Shallow Markets PDF full book. Access full book title Macro-Financial Linkages in Shallow Markets by International Monetary Fund. African Dept.. Download full books in PDF and EPUB format.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484361490
Category : Business & Economics
Languages : en
Pages : 53
Get Book Here
Book Description
This paper assesses and disseminates experiences and lessons from low-income countries (LICs) in Sub-Saharan Africa that were selected by the Africa Department in 2015-16 as pilots for enhanced analysis of macro-financial linkages in Article IV staff reports. The paper focuses on the common characteristics across the pilot countries and highlights the tools used in the analysis, the challenges encountered, and the solutions deployed in overcoming them.
Author: International Monetary Fund. African Dept.
Publisher: International Monetary Fund
ISBN: 1484361490
Category : Business & Economics
Languages : en
Pages : 53
Get Book Here
Book Description
This paper assesses and disseminates experiences and lessons from low-income countries (LICs) in Sub-Saharan Africa that were selected by the Africa Department in 2015-16 as pilots for enhanced analysis of macro-financial linkages in Article IV staff reports. The paper focuses on the common characteristics across the pilot countries and highlights the tools used in the analysis, the challenges encountered, and the solutions deployed in overcoming them.
Author: Stijn Claessens
Publisher:
ISBN: 9789292591236
Category :
Languages : en
Pages : 191
Get Book Here
Book Description
The Great Financial Crisis of 2007-09 confirmed the vital importance of advancing our understanding of macrofinancial linkages, the two-way interactions between the real economy and the financial sector. The crisis was a bitter reminder of how sharp fluctuations in asset prices, credit and capital flows can have dramatic impact on the financial positions of households, corporations and sovereign nations. As fluctuations were amplified, the global financial system was brought to the brink of collapse and the deepest contraction in world output in more than half a century followed. Moreover, unprecedented challenges for fiscal, monetary and financial regulatory policies resulted.The crisis revived an old debate in the economics profession about the importance of macrofinancial linkages. Some argue that the crisis was a painful reminder of our limited knowledge of these linkages. Others claim that the profession had already made substantial progress in understanding them but that there was too much emphasis on narrow approaches and modelling choices. Yet, most also recognise that the absence of a unifying framework to study these two-way interactions has limited the practical applications of existing knowledge and impeded the formulation of policies.With these observations in mind, this paper presents a systematic review of the rapidly expanding literature on macrofinancial linkages. It first surveys the literature on the linkages between asset prices and macroeconomic outcomes. It then reviews the literature on the macroeconomic implications of financial imperfections. It also examines the global dimensions of macrofinancial linkages and documents the main stylized facts about the linkages between the real economy and the financial sector. The topic of macrofinancial linkages promises to remain an exciting area of research, given the many open questions and significant policy interest. The paper concludes with a discussion of possible directions for future research, stressing the need for richer theoretical models, more robust empirical work and better quality data so as to advance knowledge and help guide policymakers going forward.
Author: Thore Kockerols
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
The main theme of this thesis are macro-financial linkages. I covered three different questions related to this topic. In the first chapter Gaël Giraud and I develop a model for the Euro Area answering to many of the critiques of policy models before the Global Financial Crisis and with a focus on the interaction between the financial sector and the macroeconomy. The second and third chapter focus on behaviour of the financial sector in the aftermath of the Global Financial Crisis and its implications for the macroeconomy. Chapter 2 investigates the practice of forbearance towards stressed borrowers. The ultimately relevant question in this chapter is to what extend there is a feedback to the real economy due to this behaviour. Finally, the third chapter sheds light on an episode of manipulation in commodity markets. This alleged manipulation was apparently only possible due to the dominant market position banks took in the run up to the crisis and thereafter. Ultimately I quantify the effects of such behaviour and provide evidence of a structural change of the manipulated market during the period of alleged manipulation. The first chapter exploits a bank level dataset, whereas in chapter 2 and 3 I develop structural macroeconomic models. Especially the dynamical system model in the second chapter is an innovation. This class of models and more specifically a model of the size we develop has never been estimated and subsequently used for policy analysis.
Author: James Morley
Publisher:
ISBN:
Category :
Languages : en
Pages : 20
Get Book Here
Book Description
In this survey, I review the academic and policy-oriented literature on the linkages between financial markets and the rest of the economy. The survey begins with the leading economic theories for why the financial sector can influence the macroeconomy. Second, I consider the empirical research on spillovers from the financial sector to the rest of the economy, as well as across financial markets in different countries. Third, I discuss key policy debates surrounding macro-finance linkages. The survey concludes with a summary of major gaps in the existing literature.
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages : 37
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Jennifer Moreale
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
Get Book Here
Book Description
Author: Sandra Eickmeier
Publisher:
ISBN: 9783865589088
Category :
Languages : de
Pages : 48
Get Book Here
Book Description
Author: Guglielmo Maria Caporale
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
This paper estimates a bivariate HEAVY system including daily and intra-daily volatility equations and its macro-augmented asymmetric power extension. It focuses on economic factors that exacerbate stock market volatility and represent major threats to financial stability. In particular, it extends the HEAVY framework with powers, leverage, and macro effects that improve its forecasting accuracy significantly. Higher uncertainty is found to increase the leverage and macro effects from credit and commodity markets on stock market realized volatility. Specifically, Economic Policy Uncertainty is shown to be one of the main drivers of US and UK financial volatility alongside global credit and commodity factors.
Author:
Publisher:
ISBN: 9783865587930
Category :
Languages : de
Pages : 0
Get Book Here
Book Description
