Results 21 to 30 of about 1,860 (237)
Procyclical Debt as Automatic Stabilizer [PDF]
Journal of Quantitative Economics, 2013 This paper shows that government debt creates a so far neglected wealth effect that has sizable effects on business cycle fluctuations. We present a new channel through which governments can influence cyclical fluctuations generated by any type of shock and contribute to macroeconomic stability. We provide evidence for the United States that debt moves
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The overheating of five EU new member states and cyclicality of systemic risk in the banking sector
Journal of Business Economics and Management, 2009 Rapid credit growth has been one of the most pervasive developments in recent years in Central and Eastern Europe. We tested for the significance of macroeconomic and banking sector variables that condition non‐performing loan ratios and the hypothesis ...
Mejra Festić +2 more
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Business cycles, fossil energy and air pollutants: U.S. “stylized facts”
Cleaner and Responsible Consumption, 2022 This paper, in its exploratory nature, develops a descriptive empirical analysis which tries to capture the “regularities” underlying the relationship between the economy, fossil energy use and anthropogenic air pollutants at business cycle frequency ...
Massimiliano Calvia
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Macroprudential Policy: A Review [PDF]
The School of Public Policy Publications, 2015 The severity and longevity of the recession caused by the 2007 financial crisis has highlighted the lack of a reliable macro-based financial regulation framework.
Mahdi Ebrahimi Kahou, Alfred Lehar
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Asymmetric Procyclicality of Chinese Banking and the Countercyclical Buffer of Basel III
Discrete Dynamics in Nature and Society, 2015 Since the global financial crisis of 2007-2008, the importance of the procyclicality in the banking sector has been highlighted. One of the Basel III objectives is to promote countercyclical buffers and reduce procyclicality. We apply time-varying copula
Yufeng Li, Zhongfei Li
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Credit risk measurement and procyclicality [PDF]
SSRN Electronic Journal, 2002 This paper examines the two-way linkages between credit risk measurement and the macroeconomy. It first discusses the issue of whether credit risk is low or high in economic booms. It then reviews how macroeconomic considerations are incorporated into credit risk models and the risk measurement approach that underlies the New Basel Capital Accord ...
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How Capital Flows in the Midst of Excess Savings Affect Macrofinancial Vulnerability [PDF]
Asian Development Review, 2015 In contrast to the period prior to the 1997/98 Asian financial crisis, emerging East Asia today is a region with excess savings, particularly corporate savings.
Iwan J. Azis, Damaris Yarcia
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Copernican Journal of Finance & Accounting, 2019 We analyze the effects of macroprudential policy and micro-prudential capital regulations on the procyclicality of loan-loss provisions, using individual bank information from over 65 countries.
Małgorzata Olszak +2 more
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What makes a currency procyclical? An empirical investigation [PDF]
Journal of International Money and Finance, 2015 This paper looks at the correlation between the cyclical components of gross domestic product and the exchange rate and classifies countries' currencies as procyclical if they appreciate in good times, countercyclical if they appreciate in bad times, and acyclical otherwise.
Cordella, Tito, Gupta, Poonam
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Contingent convertible bonds as countercyclical capital measures
South African Journal of Economic and Management Sciences, 2017 Background: The procyclical nature of capital models under the Basel II Accord has been widely criticised for exacerbating lending in economic expansions and restricting lending during economic contractions. These criticisms have led regulators to employ
Francois Liebenberg +2 more
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