Search results for "crise"
showing 10 items of 149 documents
Systemic financial crises and the housing market cycle
2017
Using quarterly data for a group of 20 industrialized countries and both continuous- and discrete-time duration models, we show that financial crisis recessions are associated with a two- to three-fold increase in the likelihood of the end of a housing boom. Additionally, recessions preceded by booms in mortgage credit are especially damaging, as their occurrence coincides with an increase in the duration of housing market slumps of almost 90%.
The distributional effects of capital account liberalization
2018
Abstract Episodes of account liberalization increase the Gini measure of inequality, based on panel data estimates for 149 countries from 1970 to 2010. These episodes are also associated with a persistent increase in the share of income going to the top. We investigate three channels through which these impacts could occur. First, the impact of liberalization on inequality is stronger where credit markets lack depth and financial inclusion is low; positive impacts of liberalization on poverty rates also vanish when financial inclusion is low. Second, the impact on inequality is also stronger when liberalization is followed by a financial crisis. Third, liberalization seems to alter the rela…
German Bank Lending During Emerging Market Crises: A Bank Level Analysis
2007
This paper studies German bank lending during the Asian and Russian crises, using a bank level data set, which has been compiled from credit data at the Deutsche Bundesbank. Our aim is to gain more insight into the pattern of German bank lending during financial crises in emerging markets. We find that German banks reacted to the Asian crisis mainly by reallocating their portfolios among emerging markets. This behaviour is consistent with active portfolio management and does not necessarily indicate a spontaneous reaction to the Asian crisis. By contrast, the banks' behaviour during the Russian crisis is characterised by a general withdrawal from emerging markets. The use of micro data allo…
The financial crisis and its consequences in European higher education
1990
International audience
Do debt crises boost financial reforms?
2014
"Published online: 15 Aug. 2014"
The limits of minimum income policies : the oppurtunity to pass the social management of exclusion
1997
A la lumière de l’actuel débat théorique en faveur de l’octroi d’un revenu minimum, nous nous proposons de révéler les apports et les limites de la politique française de lutte contre l’exclusion du Revenu Minimum d’insertion. Après avoir mis en évidence la nécessité de dépassement de l’actuelle pratique d’assistance et montré la nécessité sociétale d’évoluer vers un mode renouvelé de partage du revenu et du travail dans la société, nous montrons que cette « utopie progressiste » bute sur un obstacle économique perceptible dans la carence des possibilités de financement du partage du temps de travail. L’origine de cette carence est à rechercher dans la spoliation d’une partie du revenu glob…
A French and U.S. Comparative Overview of the Critical Concerns of Community College Students and Leaders during the Global Pandemic
2021
International audience
El Gran rescate de la prensa española: los anticipos reintegrables durante la Primera Guerra Mundial
2021
Resumen La crisis económica que se derivó de la Primera Guerra Mundial provocó, entre otros efectos, la caída aguda de los resultados económicos de la prensa española y una amenaza real de colapso generalizado. Reconvertida a grandes empresas, con exponentes como el primer trust periodístico español, creado en 1906, los editores de periódicos plantearon por primera vez un dilema clave para el sistema representativo: si se quería que existiese prensa, el tesoro público debía colaborar mediante subvenciones a la compra de papel. Se puso en marcha, de esta forma, el primer gran rescate de la prensa española, con una aportación millonaria de dinero público a empresas privadas que, en teoría, te…
Economic crisis and educational crisis : looking ahead
1986
The worldwide economic crisis has now been with us for a good ten years and, for many countries, the end of the tunnel is not yet in sight and is probably a long way off. So what kind of crisis is this, that can continue for so long, given the fact that, etymologically, the term denotes a brief, crucial moment when the outcome of a troubled situation is decided, for better or for worse? Infelicitous as the term commonly used to describe the present state of the world economy may be, it is none the less true that what is designated as a crisis encompasses a historical phase in which economic growth is lower than in the preceding phase and the problems bound up with certain economic trends (i…
Quantum macroeconomics: A tribute to Bernard Schmitt
2016
Bernard Schmitt, the founder of quantum macroeconomics, died on 26 March 2014. His legacy concerns the discovery of the logical laws of monetary macroeconomics and extends to the explanation of the origin and nature of economic and financial crises. Starting from a novel conception of bank money, he was able to show that economics is founded on true macroeconomic laws, which take the form of logical identities. This paper is a brief and necessarily incomplete introduction to the main themes of Schmitt's macroeconomic analysis. It ranges from the distinction between money and income that lies at the hearth of his theory of the circuit, to the investigation of inflation and unemployment as pa…