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Author : Graciela Laura Kaminsky
Release : 2003
Genre : Economics
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Short-run Pain, Long-term Gain by : Graciela Laura Kaminsky
Download or read book Short-run Pain, Long-term Gain written by Graciela Laura Kaminsky. This book was released on 2003. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Sergio L. Schmukler
Release : 2003-02-01
Genre : Business & Economics
Kind : eBook
Book Rating : 286/5 ( reviews)
Book Synopsis Short-Run Pain, Long-Run Gain by : Mr.Sergio L. Schmukler
Download or read book Short-Run Pain, Long-Run Gain written by Mr.Sergio L. Schmukler. This book was released on 2003-02-01. Available in PDF, EPUB and Kindle. Book excerpt: We examine the short- and long-run effects of financial liberalization on capital markets. To do so, we construct a new comprehensive chronology of financial liberalization in 28 mature and emerging market economies since 1973. We also construct an algorithm to identify booms and busts in stock market prices. Our results indicate that financial liberalization is followed by more pronounced boom-bust cycles in the short run. However, financial liberalization leads to more stable markets in the long run. Finally, we analyze the sequencing of liberalization and institutional reforms to understand the contrasting short- and long-run effects of liberalization.
Author : Christophe André
Release : 2023
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Rising Energy Prices and Productivity: Short-run Pain, Long-term Gain? by : Christophe André
Download or read book Rising Energy Prices and Productivity: Short-run Pain, Long-term Gain? written by Christophe André. This book was released on 2023. Available in PDF, EPUB and Kindle. Book excerpt: Soaring energy prices have raised concerns about the risks energy price shocks pose for firms' performance and the green transition. This paper estimates the impacts of energy price changes on firms' productivity as well as their dynamics, distinguishing between the short and medium-to-long term, using historical data. The analysis shows that following an energy price shock, firms adjust down their capacity utilisation, and their productivity declines. The estimates suggest that a 5% increase in energy prices reduces productivity by approximately 0.4% one year later. However, firms may display positive productivity gains in the medium term. Specifically, a shock corresponding to a 10% increase in energy prices is associated with an increase in productivity growth of around 0.9 p.p four years after the shock. These gains are more likely in less energy-intensive sectors, but tend not to materialise for larger shocks. There is some evidence that investment may be the channel behind productivity gains, the latter being larger for firms that had made investments in capital just before the shock.
Author : Graciela Kaminsky
Release : 2010
Genre :
Kind : eBook
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Book Synopsis Short-Run Pain, Long-Run Gain by : Graciela Kaminsky
Download or read book Short-Run Pain, Long-Run Gain written by Graciela Kaminsky. This book was released on 2010. Available in PDF, EPUB and Kindle. Book excerpt: The views on financial liberalization are quite conflictive. Many argue that it triggers financial bubbles and crises. Others claim that financial liberalization allows markets to function properly and capital to move to its most profitable destination. The empirical evidence on these effects is not robust. This paper constructs a new comprehensive chronology of financial liberalization and shows that a key reason for the inconclusive evidence is that the effects of liberalization are time-varying. Financial liberalization is followed by large booms and busts only in the short run. In the long run institutions improve and financial markets tend to stabilize.
Author : Graciela Laura Kaminsky
Release : 2008
Genre : Electronic book
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Short-Run Pain, Long-Run Gain by : Graciela Laura Kaminsky
Download or read book Short-Run Pain, Long-Run Gain written by Graciela Laura Kaminsky. This book was released on 2008. Available in PDF, EPUB and Kindle. Book excerpt:
