Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/273679 
Erscheinungsjahr: 
2022
Schriftenreihe/Nr.: 
Working Papers in Economics and Statistics No. 2022-06
Verlag: 
University of Innsbruck, Research Platform Empirical and Experimental Economics (eeecon), Innsbruck
Zusammenfassung: 
We examine structural differences in growth vulnerabilities across countries associated with financial risk indicators. Considering trade openness, financial sector size, the public spending ratio and government effectiveness, our findings suggest the existence of a structural gap and a risk sensitivity gap. Hence, structural country characteristics not only drive level differences in growth-at-risk (GaR) but also give rise to differences in the responsiveness of GaR to financial risks. Furthermore, we show that the impact of structural characteristics varies over the forecasting horizon. A proper understanding of structural country characteristics in the context of the GaR framework is important to facilitate the use of the concept in macroprudential policy.
Schlagwörter: 
Growth-at-risk
vulnerable growth
structural characteristics
macroprudential policy
JEL: 
E27
E32
E44
F43
G01
G20
G28
Dokumentart: 
Working Paper

Datei(en):
Datei
Größe
5.11 MB





Publikationen in EconStor sind urheberrechtlich geschützt.