Search results for "Crisi"
showing 10 items of 1042 documents
Well-being and the Great Recession in Spain
2018
This is an original manuscript / preprint of an article published by Taylor & Francis in Applied Economics Letters on 2019, available online: https://doi.org/10.1080/13504851.2018.1545076 This letter assesses the impact of the Great Recession on well-being in Spanish provinces using two alternative composite indicators of objective well-being that include somewhat different dimensions. Whereas the crisis notably eroded economic well-being, its impact on overall well-being – which in addition to economic dimensions also includes non-economic ones – was imperceptible. This result points to the need to carefully define and assess well-being in empirical analyses.
Why banks are not too big to fail - evidence from the CDS market
2013
This paper argues that bank size is not a satisfactory measure of systemic risk because it neglects aspects such as interconnectedness, correlation, and the economic context. In order to differentiate the effect of bank size from that of systemic importance, we control for systemic risk using the CoVaR measure introduced by Adrian and Brunnermeier (2011). We show that a bank's contribution to systemic risk has a significant negative effect on banks’ credit default swap (CDS) spreads, supporting the too‐systemic‐to‐fail hypothesis. Once we control for systemic risk, bank size (relative to gross domestic product (GDP)) has either no or a positive effect on banks’ CDS spreads. The effect of ba…
Fiscal sustainability in EMU countries: A continued fiscal commitment?
2017
Abstract The aim of this paper is to study the sustainability of public finances in the Eurozone particularly after the 2007 financial crisis. This paper goes beyond the standard analysis of the univariate properties of the fiscal variables through the estimation of a time-varying fiscal reaction function on a 11-country panel for a period spanning from 1970 to 2014. Even if panel unit root or stationary tests may provide a rough first insight on the sustainability of the public finances, they fail to highlight the adjustment mechanisms to debt overhang in recent years. The main advantage of our empirical approach is that it clearly captures the government’s dynamic response to debt accumul…
The effect of financial crises on potential output: New empirical evidence from OECD countries
2012
Abstract The aim of this paper is to assess the impact of financial crises on potential output. For this purpose a univariate autoregressive growth equation is estimated on an unbalanced panel of OECD countries over the period 1960–2008. Our results suggest that the occurrence of a financial crisis negatively and permanently affects potential output. In particular, financial crises are estimated to lower potential output by around 1.5–2.4% on average, with most of the impact coming from the effect on capital. The magnitude of the effect increases with the severity of the crisis. These results are robust to the use of an alternative measure of potential output, changes in the methodology and…
What determines the likelihood of structural reforms?
2015
We use data for a panel of 60 countries over the period 1980–2005 to investigate the main drivers of the likelihood of structural reforms. We find that: (i) external debt crises are the main trigger of financial and banking reforms; (ii) inflation and banking crises are the key drivers of external capital account reforms; (iii) banking crises also hasten financial reforms; and (iv) economic recessions play an important role in promoting the necessary consensus for financial, capital, banking and trade reforms, especially in the group of OECD-countries. Additionally, we also observe that the degree of globalisation is relevant for financial reforms, in particular in the group of non-OECD cou…
Financialisation, regional economic development and the coronavirus crisis: a time for spatial monetary policy?
2021
Abstract This paper argues that ‘spatial monetary policy’ may be needed to achieve more territorially balanced economic development. Central banks have been key in fostering financialised economies while also preventing their collapse in times of crisis—a role further strengthened by the coronavirus pandemic. Central banks have thus become the most powerful economic policy-making institutions, just when spatial disparities are likely to deepen. In the context of crisis-ridden financialised capitalism, regional development policies should consider the spatial implications of central bank interventions and recognise monetary policy as a key element of spatial policy. Simultaneously, monetary …
Investments in Latvia
2021
The effective attraction of investments to the national economy is a key factor, which provides favourable conditions to perform structural changes in the national economy, regional development as well as promotes technical progress. Therefore, investments in the public and the private sectors conduce development of the national economy and provide conditions to increase the overall competitiveness of a country. The purpose of research is to evaluate investment processes in Latvia before and after the global financial crisis, revealing investment-related problems. Also, to calculate the level of the desired investment, which would ensure the Latvia’s average GDP growth of 5% per year, accor…
Leveraging and Deleveraging: Pluses and Minuses
2013
Abstract As in physics, leverage is an amplifier. In business, the leverage is amplifying the losses or the gains. In good times, leverage is good, it is busting the gains, it supports economic growth. Companies and governments are using leverage at large scale. In bad times, it is busting the losses. Companies and governments will have to deleverage. This paper aims to present in brief the concepts of leveraging and deleveraging, to explain why companies, banks and governments are using the leverage, and what are the consequences of using it? The high degree of leverage is one cause of a financial crisis and therefore deleveraging is usually following a financial crisis. We will address th…
Open dialogues with good and poor outcomes for psychotic crises: examples from families with violence.
2002
In Open Dialogue the first treatment meeting occurs within 24 hr afer contact and includes the social network of the patient. The aim is to generate dialogue to construct words for the experiences embodied in the patient’s psychotic symptoms. All issues are analyzed and planned with everyone present. A dialogical sequence analysis was conducted comparing good and poor outcomes offirst-episode psychotic patients. In good outcomes, the clients had both interactional and semantic dominance, and the dialogue tookplace in a symbolic language and in a dialogical form. Already at the first meeting, in the good outcome cases, the team responded to the client’s words in a dialogical way, but in the …
Problem-based learning for anesthesia resident operating room crisis management training.
2018
Background Senior anesthesia residents must acquire competency in crisis management for operating room (OR) emergencies. We conducted problem based learning (PBL) OR emergency scenarios for anesthesia residents, focused on emergencies in ‘Airway’, ‘Circulation’, ‘Central venous catheter’, and ‘Pain management complications’. Non-technical skills are an integral component of team-based OR emergency management. Methods Prior to integrated OR emergency clinical and non-technical skills PBL training, participating 35 anesthesia residents completed two 5-point scale surveys regarding frequency of emergency experiences in the operating room, and self-confidence for anesthesia-related crisis manag…