Causes and Consequences of Economic Imbalances: Comparison of US-Asia and Europe - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Causes and Consequences of Economic Imbalances: Comparison of US-Asia and Europe write by Ariane Hillig. This book was released on 2014-10-01. Causes and Consequences of Economic Imbalances: Comparison of US-Asia and Europe available in PDF, EPUB and Kindle. In the past ten years, huge economic imbalances among US-Asia as well as eurozone countries have built up which have led to numerous crisis situations. Thus, the goal of this book is to find out if economic imbalances are sustainable or if they need to be rebalanced? What role do distinct national policies play? The author is going to compare the imbalances of US-China with the intra-euro imbalances of Germany, Spain and Italy. Firstly, the historical development of the economic imbalances is presented in order to point out the unprecedented height of the mentioned imbalances. Furthermore, the author is analyzing the causes of imbalances by presenting the development of the competitiveness, the saving-/investment rates, the financial markets as well as the different national policies. It is shown that distinct national policies were the underlying causes for the development of such high economic imbalances. After having seen the historical development as well as the causes, the author describes the possible costs and benefits of having imbalances as well as the implications of the global financial crisis and the current European crisis. Due to the increasing globalization, the financial crisis spread fast and led to huge losses and decreasing investor’s trust in European countries. This resulted in the European crisis which subsequently could also endanger the global economy. Because of the huge crisis’ impact, traditional and alternative balancing channels are also compared. Despite supporting measures such as restrictive fiscal policies and financial assistance, Europe is still suffering from an economic downturn whereas the US returned to a slow economic recovery. At the end, the author concludes that global imbalances need to be rebalanced in order not to avoid reaching an unsustainable level. The occurring as well as rebalancing of economic imbalances highly depends on distinct national policies. Unless the international coordination and cooperation increases, economic imbalances will continue to occur and will lead to economic crises when reaching an unsustainable level.
Europe and Global Imbalances
Europe and Global Imbalances - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Europe and Global Imbalances write by Philip R. Lane. This book was released on 2007-06. Europe and Global Imbalances available in PDF, EPUB and Kindle. Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world mean that it will still be affected by a shift in the current configuration of external deficits and surpluses. We assess the macroeconomic impact on Europe of global current account adjustment under alternative scenarios, emphasizing both trade and financial channels. Finally, we consider heterogeneous exposure across individual European economies to external adjustment shocks.
Financial Crises Explanations, Types, and Implications
Financial Crises Explanations, Types, and Implications - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Financial Crises Explanations, Types, and Implications write by Mr.Stijn Claessens. This book was released on 2013-01-30. Financial Crises Explanations, Types, and Implications available in PDF, EPUB and Kindle. This paper reviews the literature on financial crises focusing on three specific aspects. First, what are the main factors explaining financial crises? Since many theories on the sources of financial crises highlight the importance of sharp fluctuations in asset and credit markets, the paper briefly reviews theoretical and empirical studies on developments in these markets around financial crises. Second, what are the major types of financial crises? The paper focuses on the main theoretical and empirical explanations of four types of financial crises—currency crises, sudden stops, debt crises, and banking crises—and presents a survey of the literature that attempts to identify these episodes. Third, what are the real and financial sector implications of crises? The paper briefly reviews the short- and medium-run implications of crises for the real economy and financial sector. It concludes with a summary of the main lessons from the literature and future research directions.
Global Waves of Debt
Global Waves of Debt - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Global Waves of Debt write by M. Ayhan Kose. This book was released on 2021-03-03. Global Waves of Debt available in PDF, EPUB and Kindle. The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
Causes and Consequences of Income Inequality
Causes and Consequences of Income Inequality - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Causes and Consequences of Income Inequality write by Ms.Era Dabla-Norris. This book was released on 2015-06-15. Causes and Consequences of Income Inequality available in PDF, EPUB and Kindle. This paper analyzes the extent of income inequality from a global perspective, its drivers, and what to do about it. The drivers of inequality vary widely amongst countries, with some common drivers being the skill premium associated with technical change and globalization, weakening protection for labor, and lack of financial inclusion in developing countries. We find that increasing the income share of the poor and the middle class actually increases growth while a rising income share of the top 20 percent results in lower growth—that is, when the rich get richer, benefits do not trickle down. This suggests that policies need to be country specific but should focus on raising the income share of the poor, and ensuring there is no hollowing out of the middle class. To tackle inequality, financial inclusion is imperative in emerging and developing countries while in advanced economies, policies should focus on raising human capital and skills and making tax systems more progressive.
