Business Cycle Fluctuations, Large Shocks, and Development Aid: New Evidence

Business Cycle Fluctuations, Large Macroeconomic Shocks, and Development Aid

— We examine the cyclical properties of development aid using bilateral data for 22 donors and 113 recipients during 1970–2005. We find that bilateral aid flows are on average procyclical with respect to the business cycle in both donor and recipient countries. While aid outlays contract sharply during severe downturns in donor countries, they rise steeply when aid-receiving countries experienc...

The Impact of ICT Shocks on Business Cycle Some Evidence from Iran

Business cycles in Iran: Evidence from asymmetry and correlated shocks

In this Paper, business cycle asymmetry in Iran has been investigated using a nonlinear unobserved component model. In this regard, according to Kim and Nelsonchr('39')s (1999) interpretation of Friedman plucking model (1993), asymmetric transitory component has been modeled and simultaneously the possibility of a correlation between transitory and permanent shocks has also been considered. The...

the impact of ict shocks on business cycle some evidence from iran

Shocks to Bank Lending , Risk - Taking , Securitization , and their Role for U . S . Business Cycle Fluctuations

Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary policy innovations account for more than 30 percent of U.S. output variation. The dynamic effects, however, depend on the type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank lending and risk-taking shocks, in contrast...