Abstract I study the effects of US fiscal policy response to Great Recession, accounting both for standard tools and financial sector interventions. A nonlinear model calibrated allows me state-dependent different policies. combine with data on find that fall in consumption would have been one-third larger absence response, a cumulative loss 7.18%. Transfers bank recapitalizations yielded large...

In this study, we try to examine whether the forecast errors obtained by the ANN models affect the breakout of financial crises. Additionally, we try to investigate how much the asymmetric information and forecast errors are reflected on the output values. In our study, we used the exchange rate of USD/TRY (USD), the Borsa Istanbul 100 Index (BIST), and gold price (GP) as our output variables o...

While increases in cross-market correlations during periods of market crises are well documented, Forbes and Rigobon (2002) show that correlation coefficients are biased measures of dependence when markets become more volatile, and that there is no evidence of contagion in recent financial crises once corrected for these effects. This paper explores the impact of volatility on market dependence...

Part I brings together material suggesting that the current financial “crisis” may well have been engineered to strengthen the hand of a relatively small group of people who use international financial institutions to manage the planet more generally. It is concluded that, behind the financial crisis lies a public management crisis. Part II discusses the interlinked crises in our habitat. It se...