해외동향 | Benefits and Costs of Debt : The Dose Makes the Poison | 한국금융연구원

[LHKOREA]

2020-03-03 일자 [제 20-16 호]

Benefits and Costs of Debt : The Dose Makes the Poison
World Bank (2020-03-03)

Government debt has risen substantially in emerging market and developing economies (EMDEs) since the global financial crisis. The current environment of low global interest rates and weak growth may appear to mitigate c ..  more

Loan Types and the Bank Lending Channel
CEPR (2020-03-03)

Using credit-registry data for Spain and Peru, we document that four main types of commercial credit-asset-based loans, cash flow loans, trade finance and leasing-are easily identifiable and represent the bulk of corpora ..  more

Output Gaps and Robust Monetary Policy Rules
IJCB (2020-03-03)

Policymakers often use the output gap to guide monetary policy, even though inflation and nominal gross domestic product (NGDP) are measured more accurately in real time. Employing a small New Keynesian model with a zero ..  more

제 목	발행기관
A Financial Stability Analysis of Zombie Firms in Canada	Bank of Canada
The Effect of Mortgage Rate Resets on Debt: Evidence from TransUnion (Part I)	Bank of Canada
The Power of Helicopter Money Revisited: A New Keynesian Perspective	Bank of Canada
A Roadmap for Growing Good Jobs: Background on data and methodology	Brookings
Why bank regulators should make their secret ratings public	Brookings
China's Uneven High-Tech Drive: Implications for the United States	CSIS
Capital markets: Modules and Microservices	Deloitte
Avoiding Sovereign Default Contagion: A Normative Analysis	FRB
Capacity Choice, Monetary Trade, and the Cost of Inflation	FRB
Common Transport Infrastructure: A Quantitative Model and Estimates from the Belt and Road Initiative	FRB
How Much Will the Belt and Road Initiative Reduce Trade Costs?	FRB
Online Estimation of DSGE Models	FRB
Piecewise-Linear Approximations and Filtering for DSGE Models with Occasionally Binding Constraints	FRB
The Elusive Gains from Nationally-Oriented Monetary Policy	FRB
The Fed's "Ample-Reserves" Approach to Implementing Monetary Policy	FRB
The Increasing Deflationary Influence of Consumer Digital Access Services	FRB
Credit Score Doctors	FRB of Chicago
The Signaling, Screening, and Human Capital Effects of National Board Certification: Evidence from Chicago and Kentucky High Schools	FRB of Chicago
Oligopsonies over the Business Cycle	FRB of Cleveland
Saving Constraints, Debt, and the Credit Market Response to Fiscal Stimulus	FRB of Cleveland
The Effect of Immigration on Business Dynamics and Employment	FRB of Dallas
Optimal Monetary Policy According to HANK	FRB of New York
The Overnight Drift	FRB of New York
The Fed's Response to Economic News Explains the "Fed Information Effect"	FRB of San Francisco
Assessing Beijing's Power: A Blueprint for the U.S. Response to China over the Next Decades	Heritage
Bank Capital: A Seawall Approach	IJCB
Does Central Bank Transparency and Communication Affect Financial and Macroeconomic Forecasts?	IJCB
Monetary Policy, Commodity Prices, and Misdiagnosis Risk	IJCB
Output Gaps and Robust Monetary Policy Rules	IJCB
Relaxed Lending Standards and the 2007 Mortgage Crisis: Changes in Household Debt and Borrowing Behaviors	IJCB
Stress Tests of the Household Sector Using Microdata from Survey and Administrative Sources	IJCB
The Continuing Validity of Monetary Policy Autonomy under Floating Exchange Rates	IJCB
A 2040 vision for the US power industry: Eval‎uating two decarbonization scenarios	McKinsey
A new management science for technology delivery	McKinsey
Are you asking enough from your design leaders?	McKinsey
21st Century Macro	NBER
Can Low Retirement Savings Be Rationalized?	NBER
Does Information About Climate Risk Affect Property Values?	NBER
Does Student Loan Forgiveness Drive Disability Application?	NBER
Housing Discrimination and Pollution Exposures in the United States	NBER
Human Capital as Engine of Growth - The Role of Knowledge Transfers in Promoting Balanced Growth Within and Across Countries	NBER
Monetary Policy and Bubbles in a New Keynesian Model with Overlapping Generations	NBER
Secured Credit Spread	NBER
Take the Q Train: Value Capture of Public Infrastructure Projects	NBER
The Collateral Channel of Monetary Policy: Evidence from China	NBER
The Electric Vehicle Transition and the Economics of Banning Gasoline Vehicles	NBER
Trust and Saving in Financial Institutions	NBER
Uncovered Interest Parity, Forward Guidance, and the Exchange Rate	NBER
Utilization-Adjusted TFP Across Countries: Measurement and Implications for International Comovement	NBER
What Determines Consumer Financial Distress? Place- and Person-Based Factors	NBER
Jumping Forward: Compliance In Insurance	Oliver Wyman
Reimagining The Korean Wealth Management Market	Oliver Wyman
Democratic presidential candidates have mixed positions on trade	PIIE
Global value chains and the removal of trade protection	PIIE

제 목	발행기관
Erosion of state power, corruption control, and political stability	Bank of Finland
Job-to-Job Flows and Wage Dynamics in France and Italy	Bank of France
How good is the European Commission's Just Transition Fund proposal?	Bruegel
How Do Credits Dollarize? The Role of Firm's Natural Hedges, Banks' Core and Non-Core Liabilities	CBRT
The Role of Imported Inputs in Pass-through Dynamics	CBRT
Heterogeneous Wealth Effects	CEPR
Loan Types and the Bank Lending Channel	CEPR
The Econometrics of Oil Market VAR Models	CEPR
Financial stability committees and the countercyclical capital buffer	Deutsche Bundesbank
The power of forward guidance in a quantitative TANK model	Deutsche Bundesbank
Density forecast combinations: the real-time dimension	ECB
Global Data Access for Solving Rare Disease: A Health Economics Value Framework	WEF
Energy Use Patterns in German Manufacturing Since 2003	ZEW
Labor Shortage and Innovation	ZEW

제 목	발행기관
A Comparative Analysis of Tax Administration in Asia and the Pacific: 2020 Edition	ADB
Attraction or Repulsion? Testing Coagglomeration of Innovation between Firm and University	ADB
Conditions for Effective Macroprudential Policy Interventions	ADB
Exchange Rates and Insulation in Emerging Markets	ADB
Not Business as Usual: Mega-Trends and the Need for New City Building Approaches in the People's Republic of China	ADB
Over Land and Over Sea: Domestic Trade Frictions in the Philippines	ADB
The Integration of Countries' Sovereign Bond Markets: An Empirical Illustration of a Global Financial Cycle	BOJ
미중 대립과 아시아 서플라이체인 재편 (In Japanese)	JRI
시진핑 정권은 왜 미국과의 대립을 마다하지 않는가? (In Japanese)	JRI
Competitive Neutrality of State-owned Enterprises in China's Steel Industry: Causal Inference on the Impacts of Subsidies	RIETI

제 목	발행기관
Variability in risk-weighted assets: what does the market think?	BIS
Enhancing the macroprudential dimension of Solvency II	ESRB
Macroprudential implications of financial instruments in Levels 2 and 3 for accounting purposes	ESRB
Deus ex Machina? A Framework for Macro Forecasting with Machine Learning	IMF
Exploring Residual Profit Allocation	IMF
Foreign Demand and Local House Prices: Evidence from the US	IMF
Household Debt and House Prices-at-risk: A Tale of Two Countries	IMF
International Capital Flows at the Security Level - Evidence from the ECB's Asset Purchase Programme	IMF
The Impact of Conflict and Political Instability on Banking Crises in Developing Countries	IMF
The More the Merrier? A Machine Learning Algorithm for Optimal Pooling of Panel Data	IMF
Transitory and Permanent Shocks in the Global Market for Crude Oil	IMF
Blockchain for SMEs and entrepreneurs in Israel	OECD
Systemic Thinking for Policy Making : The Potential of Systems Analysis for Addressing Global Policy Challenges in the 21st Century	OECD
Brexit Beyond Tariffs: The role of non-tariff measures and the impact on developing countries	UNCTAD
Leveraging the Potential of ESG ETFs for Sustainable Development	UNCTAD
Benefits and Costs of Debt : The Dose Makes the Poison	World Bank
Understanding the Cost of Achieving the Sustainable Development Goals	World Bank

제 목	발행기관
Coronavirus Spread Puts Densely Populated India on High Alert	bloomberg
Japan Pension Fund Sheds Bonds, Bets Virus Fears Are Overblown	bloomberg
Bank of Korea Leaves Key Rate Unchanged Despite Virus Blow	bloomberg
Global Credit Market Seizes Up as Coronavirus Halts Bond Sales	bloomberg
Pandemic Scenario for ECB May Mean Revisiting Maxed-Out Toolkit	bloomberg
Virus Alarm Drives Rotation Into Gold With Record ETF Flows	bloomberg
German Firms Cut Investment for Third Quarter	bloomberg
JPMorgan Says Blockchain Is Laying Foundation for Digital Money	bloomberg
Rethinking how we value data	economist
The virus is coming	economist
Experts predict that covid-19 will spread more widely	economist
Markets wake up with a jolt to the implications of covid-19	economist
As its covid-19 epidemic slows, China tries to get back to work	economist
Healing the rift in Europe's single currency	economist
Business and the next recession	economist
The Iranian regime risks exacerbating the outbreak of covid-19	economist
Coronavirus to knock US earnings growth to zero, Goldman says	ft
Japan shuts all schools to combat coronavirus	ft
Coronavirus and the etiquette of working from home	ft
Stocks whipsaw amid mounting coronavirus concerns	ft
Junk bond spreads surge as investors consider virus risks	ft
The AI doctor will see you now	ft
Coronavirus deals fresh blow to Italy's struggling economy	ft
Japan warns of rapid coronavirus spread after global market sell-off	ft
Bets on Interest Rate Cuts Escalate	wsj
U.S. Coronavirus Outbreak Would Pose Risk to Record Expansion	wsj
Fed's Wait-and-See Posture Tested by Spread of Coronavirus	wsj
Trump versus the Coronavirus	wsj
Coronavirus Concerns Fuel Fresh Selloff in Global Stocks	wsj
The Spending Virus	wsj
SEC Rethinks Approach to Conflicts Among Bond-Rating Firms	wsj
With Current Tools, Fed Unlikely To Sustainably Hit Inflation Target	wsj