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Monday, August 10, 2020 | History

3 edition of Short-run pain, long-run gain found in the catalog.

Short-run pain, long-run gain

Graciela Laura Kaminsky

Short-run pain, long-run gain

the effects of financial liberalization

by Graciela Laura Kaminsky

  • 75 Want to read
  • 9 Currently reading

Published by National Bureau of Economic Research in Cambridge, Mass .
Written in English

    Subjects:
  • Finance,
  • Capital market,
  • Financial crises

  • Edition Notes

    Other titlesEffects of financial liberalization.
    StatementGraciela L. Kaminsky, Sergio L. Schmukler.
    SeriesNBER working paper series -- no. 9787., Working paper series (National Bureau of Economic Research) -- working paper no. 9787.
    ContributionsSchmukler, Sergio L., National Bureau of Economic Research.
    The Physical Object
    Pagination28, [33] p. :
    Number of Pages33
    ID Numbers
    Open LibraryOL17614650M
    OCLC/WorldCa52714312

    It is important to notice that the “short-run pain, long-run gain” trade-off arising in our \(\textit{AK}\) economy does not hinge on dynamic inefficiency as in exogenous growth models. In addition, \(C_0\) falls after integration also when the entry cost is arbitrarily small provided that \(\rho \ge r\). Get this from a library! Short-run pain, long-run gain: the effects of financial liberalization. [Graciela Laura Kaminsky; Sergio L Schmukler; International Monetary Fund. Research Department.] -- 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.

    Conventional wisdom has it that fiscal adjustments should lead to long-run gains at the expense of short-run costs. Whether long-run gains will be there, however, is really an empirical matter since, theoretically, a fiscal adjustment effected through, say, an increase in income taxes or a cut in public investment should reduce long-run growth. Get this from a library! Short-run pain, long-run gain: the effects of financial liberalization. [Graciela Laura Kaminsky; Sergio L Schmukler; National Bureau of Economic Research.] -- Abstract: 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.

      For a reasonable parametrization, the model is able to match both the long-run trend in the routine employment share and the dramatic impact of the Great Recession on such jobs. Keywords: job polarization, routine-biased technical change, business cycle, human capital investment, upskilling, Great Recession. Get this from a library! Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization. [Graciela Kaminsky; Sergio Schmukler] -- 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.


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Short-run pain, long-run gain by Graciela Laura Kaminsky Download PDF EPUB FB2

Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization Graciela L. Kaminsky and Sergio L. Schmukler NBER Working Paper No.

June JEL No. F30, F32, F33, F34, G12, G15 ABSTRACT We examine the short- and long-run effects of fi Cited by: 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. Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization Graciela Kaminsky, Sergio Schmukler.

NBER Working Paper No. Issued in June NBER Program(s):Asset Pricing, International Finance and Macroeconomics We examine the short- and long-run effects of financial liberalization on capital by: long-run gain book Kaminsky and Schmukler examine the short- and long-run effects of financial liberalization on capital markets.

To do so, they construct a new comprehensive chronology of financial liberalization in 28 developed and emerging economies since The authors also construct an algorithm to identify booms and busts in stock market prices. Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization.

Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization Graciela Laura Kaminsky George Washington University Washington, DC debate is due to the fact that the various lines of empirical research focus either on the short-run or on the long-run effects of deregulation, without studying the possible time-varying effects.

Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization Article (PDF Available) January with Reads How we measure 'reads'. Short-Run Pain, Long-Run Gain: The Effects of Financial Liberalization Graciela Laura Kaminsky George Washington University Washington, DC Short-Run Pain, Long-Run Gain: Financial Liberalization and Stock Market Cycles Article (PDF Available) in Review of Finance 12(2) March with Reads How we measure 'reads'.

"Short-run pain, long-run gain: the conditional welfare gains from international financial integration," Post-Print hal, HAL. Raouf Boucekkine & Giorgio Fabbri & Patrick A.

Pintus, "Short-Run Pain, Long-Run Gain: The Conditional Welfare Gains from International Financial Integration," Working Papers halshs, HAL. Downloadable. The authors examine the short- and long-run effects of financial liberalization on capital markets.

To do so, they construct a new comprehensive chronology of financial liberalization in 28 developed and emerging economies since The authors also construct an algorithm to identify booms and busts in stock market prices.

The results indicate that financial liberalization is. Short-Run Pain, Long-Run Gain. Recessions and Technological Transformation. Alexandr Kopytov* Nikolai Roussanov Mathieu Taschereau-Dumouchel Preliminary and incomplete Octo Abstract Recent empirical evidence suggests that skill-biased technological change that shifts labor.

Graciela Laura Kaminsky & Sergio L. Schmukler, "Short-Run Pain, Long-Run Gain: Financial Liberalization and Stock Market Cycles," Review of Finance, European Finance Association, vol.

12(2), pages Charles T. Carlstrom & Timothy S. Fuerst & Matthias Paustian, Downloadable. 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 We also construct an algorithm to identify booms and busts in stock market prices.

Our results indicate that financial liberalization is followed by more. Raouf Boucekkine & Giorgio Fabbri & Patrick Pintus, "Short-Run Pain, Long-Run Gain: The Conditional Welfare Gains from International Financial Integration The Conditional Welfare Gains from International Financial Integration," AMSE Working PapersAix-Marseille School of Economics, France, revised 27 Jun Handle: RePEc:aim.

At the same time, this short-run pain creates long-lasting value in the form of a better production technology and a higher skill level.

The patterns of technology adoption and skill acquisition generated by the model have support in the data. The evidence from the Great Recession is particularly telling. 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 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. Short-Run Pain, Long-Run Gain: Financial Liberalization and Stock Market Short-Run Pain, Long-Run Gain: Financial Liberalization and Stock Market Cycles, Review of Finance, Vol Issue 2 Financial liberalization is followed by large booms and busts only in the short run.

In the long run institutions improve and financial markets. Short-Run Pain, Long-Run Gain: The Conditional Welfare Gains from International Financial Integration Raouf Boucekkine, Giorgio Fabbri, Patrick A.

Pintus To cite this version: Raouf Boucekkine, Giorgio Fabbri, Patrick A. Pintus. Short-Run Pain, Long-Run Gain: The Conditional Welfare Gains from International Financial Integration.

The euro has had some marked successes over its first five years included the marked deepening of euro bond markets which has benefited the entire world. But at the same time, the pain has probably outweighed the gain as Europe still remains far from an optimal currency area.

JPM. In the short run, whereas the euro has hardly been a failure, it seems the pain has outweighed the gain. What about the longer term? If European integration proceeds far enough, of course, the gain .Short-Run Pain, Long-Run Gain: The Conditional Welfare Gains from International Financial Integration Article in Economic Theory September with 9 Reads How we measure 'reads'.Additional Physical Format: Online version: Kaminsky, Graciela Laura.

Short-run pain, long-run gain. Washington, D.C.: World Bank, Development Research Group.