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Guaranteeing Trade in a Severe Crisis: Cash Collateral over Bank Guarantees

Author/Editor: Antonis Kotidis, Margaux MacDonald, Dimitris Malliaropulos.

Release Date:February, 2023

Banks guarantee international trade through letters of credit. This paper analyzes what happens to trade when the critical role of banks as trade guarantors is compromised. Using the case of the more...



Price: $20.00
Financial Sector and Economic Growth in India

Author/Editor: Margaux MacDonald, TengTeng Xu.

Release Date:July, 2022

India's financial sector has faced many challenges in recent decades, with a large, negative, and persistent credit to GDP gap since 2012. We examine how cyclical financial conditions affect GDP more...



Price: $20.00
The Effect of Tariffs in Global Value Chains

Author/Editor: Johannes Eugster, Florence Jaumotte, Margaux MacDonald, Roberto Piazza.

Release Date:February, 2022

This paper empirically investigates the impact of tariffs when production is organized in global value chains. Using global input-output matrices, we construct four different tariff measures that more...



Price: $5.00
The Impact of Political Uncertainty on Asset Prices: The Case of the United Kingdom's EU Membership Referendum

Author/Editor: Joseph Hanna, Niels-Jakob H Hansen, Margaux MacDonald.

Release Date:February, 2021

How did expectations of the outcome of the United Kingdom's (UK) referendum on European Union (EU) membership in 2016 affect prices in financial markets? We study this using high frequency data from more...



Price: $18.00
Are Bilateral Trade Balances Irrelevant?

Author/Editor: Margaux MacDonald, Roberto Piazza, Johannes Eugster, Florence Jaumotte.

Release Date:September, 2020

Based on an empirical gravity model of sectoral bilateral trade, we uncover three features of bilateral trade balances. First, the difficulty of gravity models in fitting the observed level of more...



Price: $18.00
Drivers of Financial Access: the Role of Macroprudential Policies

Author/Editor: Corinne Deléchat, Lama Kiyasseh, Margaux MacDonald, Rui Xu.

Release Date:May, 2020

This study analyzes the drivers of the use of formal vs. informal financial services in emerging and developing countries using the 2017 Global FINDEX data. In particular, we investigate whether more...



Price: $18.00
Regional Growth Spillovers in Sub-Saharan Africa

Author/Editor: Francisco Arizala, Matthieu Bellon, Margaux MacDonald.

Release Date:July, 2019

This paper documents the steady increase in intraregional trade in sub-Saharan Africa since 1980, links this rise to important growth spillovers in the region, and identifies the main source more...



Price: $18.00
Regional Spillovers in Sub-Saharan Africa : Exploring Different Channels

Author/Editor: Francisco Arizala, Matthieu Bellon, Margaux MacDonald, Montfort Mlachila, Mustafa Yenice.

Release Date:August, 2018

After close to two decades of strong economic activity, overall growth in sub-Saharan Africa decelerated markedly in 2015–16 as the largest economies experienced negative or flat growth. Regional more...



Price: $4.99
Unconventional Monetary Policy in a Small Open Economy

Author/Editor: Margaux MacDonald, Michał Ksawery Popiel.

Release Date:December, 2017

This paper investigates the effects of unconventional monetary policy in a small open economy. Using recently proposed shadow interest rates to capture unconventional monetary policy at the more...



Price: $18.00