The Welfare Consequences of Income-Induced Expenditure Switching

2018 ◽  
Vol 108 ◽  
pp. 547-551
Author(s):  
Rudolfs Bems ◽  
Julian Di Giovanni
Keyword(s):  
Financial Crisis ◽  
Significant Role ◽  
Expenditure Switching ◽  
Welfare Consequences ◽  
Percent Contribution ◽  
External Sector ◽  
Historical Decomposition

Bems and di Giovanni (2016) establish that income-induced expenditure switching (IIES) from foreign goods to cheaper domestic substitutes played a significant role in external rebalancing during the 2008-2009 financial crisis in Latvia. In this paper, we examine the welfare consequences of IIES under different external sector rebalancing scenarios. We find that IIES reduced the negative welfare consequences that accompany external rebalancing by between 12-17 percent. We also show, using a historical decomposition, that IIES accounted for 18 percent of the 2008-2009 collapse in imports, which is greater than the 14 percent contribution due to the conventional price-induced expenditure switching channel.

scholarly journals Analisis Efektivitas G20 Dalam Menangani Krisis Finansial Tahun 2008

2016 ◽  
Vol 3 (02) ◽  
pp. 1
Author(s):  
Arum Tri Utami
Keyword(s):  
Financial Crisis ◽  
Significant Role ◽  
Economic Governance ◽  
Challenging Problem ◽  
Fiscal Stimulus ◽  
Global Economic Governance

AbstrakKrisis finansial 2008 menjadi sebuah permasalahan yang sulit dan menantang untuk diselesaikan, yang membawa pada pentingnya reformasi artsitektur tata kelola ekonomi global. G20 muncul sebagai sebuah tata kelola ekonomi global yang signfikan. Kedua puluh negara anggota G20 dapat mengambil peran yang signifikan dalam ekonomi glob-al. Berbagai upaya dikeluarkan oleh G20 dalam menyelesaikan krisis finansial 2008. Salah satu upayanya adalah dengan pemberian stimulus fiskal sebesar 2% dari PDB negara anggota G20. Kebijakan lainnya terus didorong oleh G20 untuk membuat aturan dan pengawasan yang efektif serta berbagai kebijakan sektor finansial lainnya. Efektivitas G20 dalam menyelesaikan krisis finansial G20 menjadi penting untuk dianalisa untuk membuat tata kelola ekonomi global yang lebih baik.Kata-Kata Kunci : G20, krisis finansial 2008, efektivitas, KTT G20 AbstractFinancial crisis 2008 posed a serious of deeper and more challenging problem, that led to calls for urgent reform of the architecture of global economic governance. G20 emerged as a significant global economic governance. The twenty members of G20 can take a significant role in economic global. Various efforts were made by G20 through policies resulted from the Summit. Those efforts include providing fiscal stimulus in the amount of 2% from GDP the member of G20. Other policies have been pushed by G20 to make an effective regulatory, supervisory and other financial sec-tor policies. The effectiveness of G20 in handling financial crisis 2008 was important to be analyzed to make a global economic governance will be better.Keywords : G20, financial crisis 2008, effectiveness, G20�s summit.

scholarly journals The Impact of the Global Financial Crisis on the Management of Banking Risks

Equilibrium ◽  
2010 ◽  
Vol 5 (2) ◽  
pp. 33-45
Author(s):  
Alina Manta ◽  
Roxana Nanu
Keyword(s):  
Financial Crisis ◽  
Banking Sector ◽  
Global Financial Crisis ◽  
Absorption Capacity ◽  
External Financing ◽  
Financial Soundness ◽  
Global Liquidity ◽  
The Global Financial Crisis ◽  
External Sector ◽  
The Impact

The international macroeconomic and financial environment has undergone major negative changes since the global financial crisis. The magnitude and intensity of the economic and financial crisis have been underestimated by authorities worldwide. The uncertainties surrounding future developments remain high. In Romania, the main challenges posed by the external sector refer to the worsening perception of risks, including contagion effects from the adverse regional developments, the contraction of external markets, the less readily available external financing and the replacement of global liquidity risk by solvency risk. In spite of this, the banking sector continued to report positive financial soundness indicators, displaying and noticeable financial results. Stress testing analyses indicate a solid absorption capacity of moderate shocks. On the other hand, we proposed ourselves to quantify the degree of correlation between the European and Romanian banking systems through the solvency indicator using the trend analysis.

Greek migrant jokes online

2020 ◽  
Author(s):  
Argiris Archakis ◽  
Villy Tsakona
Keyword(s):  
Financial Crisis ◽  
Significant Role ◽  
Social Inequalities ◽  
Humor Studies ◽  
Sociopolitical Context ◽  
Time Periods ◽  
Critical Humor

Abstract This study adheres to critical humor studies investigating how humor targeting the migrant ‘Other’ may reproduce social inequalities in the form of racist stereotypes. We examine two datasets of online migrant-targeting jokes from two different time periods in Greece. Our first collection of jokes comes from the period 1990–2010, i.e., when Greece, enjoying financial prosperity, received mostly Albanian migrants, while the second one comes from 2014 onwards, i.e., when Greece, facing a severe financial crisis, received mostly Muslim migrants. Our analysis shows that the local sociopolitical context plays a significant role in shaping the ways migrants are humorously represented and targeted: the incongruities identified in the first dataset are different from those of the second. In both cases, however, migrant-targeting jokes seem to reinforce national homogenization by circulating racist stereotypes for migrants in a light-hearted manner and by naturalizing the latter’s marginalization and/or assimilation.

scholarly journals Competition law

2012 ◽  
Vol 61 (4) ◽  
pp. 991-1005 ◽  
Author(s):  
Robert Lane
Keyword(s):  
Financial Crisis ◽  
Significant Role ◽  
Competition Policy ◽  
Competition Law ◽  
Director General ◽  
Competition Rules ◽  
To Come ◽  
Union Competition

The period under review (January 2010 – June 2012) has been a time of consolidation (or exhaustion) for the Union generally, as the Lisbon changes are allowed to bed in. The competition sphere is no exception. There has been limited initiative, certainly nothing ambitious to come out of the Commission over the period. At the same time a new Commission took up office—three months late, and by a little-remarked constitutional sleight of hand1—in 2010, and with it came a new Commissioner for Competition (Mr Almunia) and with him a new Director-General of DG Competition (Mr Italianer—Dutch notwithstanding the name), which event sometimes, but not always, marks a reorientation of Union competition policy. Both are economists which, again, may or may not influence the direction of policy. At the same time the Union has been buffeted by a financial crisis not wholly of its own making in which the competition rules must have a significant role to play.

scholarly journals A review of operational risk in banks and its role in the financial crisis

2013 ◽  
Vol 16 (4) ◽  
pp. 364-382 ◽  
Author(s):  
Erika De Jongh ◽  
Riaan De Jongh ◽  
Dawie De Jongh ◽  
Gary Van Vuuren
Keyword(s):  
Risk Factors ◽  
Financial Crisis ◽  
Significant Role ◽  
Operational Risk ◽  
Credit Crisis ◽  
2008 Financial Crisis

The role of operational risk in the 2007/2008 financial crisis is explored. The factors that gave rise to the crisis are examined and it is found that although the event is largely regarded as a credit crisis, operational risk factors played a significant role in fuelling its duration and severity. It is concluded that, from an operational risk perspective, 2008 was the worst on record. Considering the extensive role of operational risk in global financial calamities, suggestions are made to improve the management of this risk type. 

scholarly journals Socio-Economic Significance of CPEC Prospects of Intra and Inter-Region Coop and Challenges

2019 ◽  
Vol IV (IV) ◽  
pp. 99-108
Author(s):  
Misbah Zahid ◽  
Zargham Ullah Khan ◽  
Qurrat Ull Ann Javaid
Keyword(s):  
Financial Crisis ◽  
Significant Role ◽  
Growth And Development ◽  
Chinese Economy ◽  
Sustainable Growth ◽  
Primary Data ◽  
Economic Significance ◽  
Financial Conditions ◽  
The World ◽  
Game Changer

The development of the China Pakistan Economic Corridor is one of the most important developments for the economy and as well as for the development of the infrastructure. In the last four decades, Sustainable growth and development in China have assigned her a special status in the world's economy. The financial crisis of the year 2007-08, adversely affect the world, but these crises helped to strengthen the Chinese economy and also increase the importance of China in global. CPEC is considered as a game-changer in the continent. The scholars and analyst play a significant role in analyzing the effect of its social and economic prospects. In this paper, the effect of CPEC is studied on the changing financial conditions by collecting primary data through questionnaire.

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