This paper analyzes fiscal procyclicality in commodity-exporting countries. It first shows that the degree of fiscal procyclicality is twice as high in commodity exporters than in non-commodity ...

Financial intermediaries borrow in order to lend. When credit is increasing rapidly, the traditional deposit funding (core liabilities) is supplemented with other funding (non-core liabilities). We ...

We show that, over the last decade, about a third of the developing world has been able to escape the procyclicality trap and actually become countercyclical. In line with existing literature, we ...

We show that, over the last decade, about a third of the developing world has been able to escape the procyclicality trap and actually become countercyclical. We then focus on the role played by the ...

In this context, the issue of procyclicality has emerged as a central concern that needs to be monitored because of its impact on financial stability (see "Will Basel II Help Prevent Crises or Worsen ...

The World Bank's Prospects Group conducts in-depth analysis of key global macroeconomic developments and their impact on World Bank member countries. The Prospects Group leads the World Bank’s ...

This paper analyzes the procyclicality of fiscal policy on the tax and spending sides in a sample of 116 developing countries between 2000 and 2016. About 20 percent of the countries in the sample ...

This issue of The Journal of Risk covers anti-procyclicality risk-control tools in central counterparty setups, the estimation of multifactor default correlations, the impact of the Basel Fundamental ...

Federal Reserve Governor Michelle Bowman called for reforms to reduce volatility, increase transparency and address overlaps ...

Welcome to the first issue of Volume 10 of The Journal of Financial Market Infrastructures. This issue contains three papers on central counterparties (CCPs). In our third and final paper, “The ...

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They should, therefore, be a central element of an integrated policy response. Better regulation can help A major problem is that existing regulatory tools do not dampen the procyclicality of ...