Start and stop, procyclical macroeconomic policies have been a chronic policy problem for emerging markets. Expansionary in good times and contractionary in bad times, booms become unmanageable credit expansions and ever-rising asset prices and busts turn into major recessions.
Understanding banks in emerging markets
5 - 6 September 2013, EBRD, London
The conference aims to bring together leading researchers to discuss recent developments in empirical banking research. Attention will be given in particular to: 1. The econometric analysis of increasingly rich micro-level data that are available ‘off-the-shelve’; 2. The econometric analysis of tailor-made data from large-scale surveys of banks and their clients; 3. The use of randomized controlled trials and framed field experiments with banks. Key-note speakers: Atif Mian and Antoinette Schoar. If you would like to submit a paper (full papers accepted only) please send an email to email@example.com. In the subject header please add “Submission CEPR-EBRD-EBC-RoF Conference” and nothing else. Authors will be notified about the acceptance of papers and the conference programme by 1 June 2013.
- Ralph De Haas; Thorsten Beck; Steven Ongena
- EBRD, London
- Open attendance
- European Bank for Reconstruction and Development (EBRD) and Tilburg University
- More information:
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Graduation from monetary policy procyclicality
Carlos A. Vegh , Guillermo Vuletin, 22 August 2012
Financial crises in emerging markets: The impact of private sector risk
Betty C. Daniel, 1 July 2012
What causes financial crises? The causes of the global crisis of 2008-2009 have been widely analysed (see for example Eichengreen 2008), just as the Asian crisis was in the 1990s. As economists, we want to attribute crises to something like fraud, greed, cronyism, or misbehaviour of some kind. We want to think that if we can control misbehaviour, we can eliminate crises.
A new measure of the global middle class
Shimelse Ali, Uri Dadush, 2 June 2012
The swelling middle class in emerging economies is transforming the economic balance of power across the globe. Measuring it, however, is no easy task.
Myths about trade, jobs, and competitiveness
Charles Roxburgh, Richard Dobbs, Jan Mischke, 31 May 2012
This is not a happy time for mature economies. They are facing:
On Inflation Targeting and Forex Intervention: Are Two Targets Better Than One?
Jonathan D Ostry, Atish R Ghosh, Marcos Chamon, 27 May 2012
The global financial crisis has reminded emerging market economies, if they needed reminding, that capital flows can be highly volatile and that crises need not be home grown. Emerging markets have been affected in a variety of ways, not least by the sharp ups and downs in exchange rates that volatile capital flows engender.
Interest groups and government capabilities matter for financial development
Eduardo Cavallo, Carlos Scartascini, 12 May 2012
The debate on the benefits and limits of financial development has come to the fore with the global financial crisis. The fact that the epicentre of the global financial crisis was in countries with developed credit markets has led some commentators to argue that financial development may have gone too far.
Divergence of fortunes in recoveries
Prakash Loungani, M Ayhan Kose, Marco E Terrones, 24 April 2012
The last global recession was the deepest of the four recessions the world has experienced since World War II. Each recession led to fears of economic apocalypse but the global economy recovered in a year or two. Because of the depth of the last recession, some analysts worried that the world would relive the Great Depression of the 1930s.
The financial trilemma in China and a comparative analysis with India
Rajeswari Sengupta, Joshua Aizenman, 15 November 2011
Policymakers dealing with the Great Recession of 2008–09 are confronted with what we call the ‘financial trilemma’.
The changing role of emerging-market banks
Neeltje van Horen, 25 October 2011
The global financial crisis has had a major impact on banks worldwide. While some banks are faced with major restructurings (either voluntary or imposed by governments), (almost) all banks will have to make adjustments in order to comply with Basel III and other, country-specific regulatory measures.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Helicopter money as a policy optionReichlin, Turner, Woodford
- The case for 4% inflationBall
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013