Adrian Alter
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View article: Navigating the Evolving Landscape of External Financing in Sub-Saharan Africa
Navigating the Evolving Landscape of External Financing in Sub-Saharan Africa Open
The landscape of external funding flows to sub-Saharan Africa (SSA) has evolved significantly over the past two decades. This paper provides an overview of the non-official external financing sources, emphasizing the trade-offs between for…
View article: Perspectives économiques régionales : Afrique subsaharienne. Avril 2024.
Perspectives économiques régionales : Afrique subsaharienne. Avril 2024. Open
Après quatre années mouvementées, les perspectives pour l'Afrique subsaharienne s'améliorent progressivement. La croissance va passer de 3,4 % en 2023 à 3,8 % en 2024, et près des deux tiers des pays s'attendent à une croissance plus élevé…
View article: Perspetivas Económicas Regionais: África Subsariana. ABR 2024
Perspetivas Económicas Regionais: África Subsariana. ABR 2024 Open
Após quatro anos turbulentos, as perspetivas para a África Subsariana estão gradualmente a melhorar. O crescimento passará de 3,4%, em 2023, para 3,8%, em 2024, com cerca de dois terços dos países a antecipar um crescimento mais rápido. Es…
View article: Financial Stability in a Higher-for-Longer Interest Rate Environment The Case of the Middle East and North Africa
Financial Stability in a Higher-for-Longer Interest Rate Environment The Case of the Middle East and North Africa Open
View article: Perspectives économiques regionals, Moyen-orient et asie centrale, Octobre 2023
Perspectives économiques regionals, Moyen-orient et asie centrale, Octobre 2023 Open
Au Moyen-Orient et en Asie centrale, les effets conjugués de vents contraires à l'échelle mondiale, de difficultés intérieures et de risques géopolitiques pèsent sur la dynamique économique, et une grande incertitude entoure les perspectiv…
View article: Commercial Real Estate in Crisis: Evidence from Transaction-Level Data
Commercial Real Estate in Crisis: Evidence from Transaction-Level Data Open
During the past two decades, the commercial real estate (CRE) market has been impacted by major disruptions, including the global financial crisis and the Covid-19 pandemic.Using granular data from the U.S., we document how these crises ha…
View article: Informality, Development, and the Business Cycle in North Africa
Informality, Development, and the Business Cycle in North Africa Open
View article: Non-Primary Home Buyers, Shadow Banking, and the US Housing Market
Non-Primary Home Buyers, Shadow Banking, and the US Housing Market Open
This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million residential transactions over 1998–2018. First, we document the evolution of different types of investment purchases such as …
View article: Non-Primary Home Buyers, Shadow Banking, and the US Housing Market
Non-Primary Home Buyers, Shadow Banking, and the US Housing Market Open
This paper studies the US housing market using a proprietary and comprehensive dataset covering nearly 90 million residential transactions over 1998–2018. First, we document the evolution of different types of investment purchases such as …
View article: Household Debt and House Prices-at-risk: A Tale of Two Countries
Household Debt and House Prices-at-risk: A Tale of Two Countries Open
To identify and quantify downside risks to housing markets, we apply the house price-at-risk methodology to a sample of 37 cities across the United States and Canada using quarterly data from 1983 to 2018.This paper finds that downside ris…
View article: Non-Primary Home Buyers, Shadow Banking, and the US Housing Market
Non-Primary Home Buyers, Shadow Banking, and the US Housing Market Open
View article: Household Debt and House Prices-at-Risk: A Tale of Two Countries
Household Debt and House Prices-at-Risk: A Tale of Two Countries Open
View article: Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database
Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database Open
This paper introduces a new comprehensive database of macroprudential policies, which combines information from various sources and covers 134 countries from January 1990 to December 2016. Using these data, we first confirm that loan-targe…
View article: Growth at Risk: Concept and Application in IMF Country Surveillance
Growth at Risk: Concept and Application in IMF Country Surveillance Open
The growth-at-risk (GaR) framework links current macrofinancial conditions to the distribution of future growth. Its main strength is its ability to assess the entire distribution of future GDP growth (in contrast to point forecasts), quan…
View article: Growth at Risk: Concept and Application in IMF Country Surveillance
Growth at Risk: Concept and Application in IMF Country Surveillance Open
The growth-at-risk (GaR) framework links current macrofinancial conditions to the distribution of future growth.Its main strength is its ability to assess the entire distribution of future GDP growth (in contrast to point forecasts), quant…
View article: Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database
Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database Open
This paper introduces a new comprehensive database of macroprudential policies, which combines information from various sources and covers 134 countries from January 1990 to December 2016.Using these data, we first confirm that loan-target…
View article: Growth at Risk: Concept and Application in IMF Country Surveillance
Growth at Risk: Concept and Application in IMF Country Surveillance Open
View article: Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database
Digging Deeper--Evidence on the Effects of Macroprudential Policies from a New Database Open
View article: House Price Synchronicity, Banking Integration, and Global Financial Conditions
House Price Synchronicity, Banking Integration, and Global Financial Conditions Open
We examine the relationship between house price synchronicity and global financial conditions across 40 countries and about 70 cities over the past three decades. The role played by cross-border banking flows in residential property market…
View article: Understanding the Macro-Financial Effects of Household Debt: A Global Perspective
Understanding the Macro-Financial Effects of Household Debt: A Global Perspective Open
View article: House Price Synchronicity, Banking Integration, and Global Financial Conditions
House Price Synchronicity, Banking Integration, and Global Financial Conditions Open
We examine the relationship between house price synchronicity and global financial conditions across 40 countries and about 70 cities over the past three decades.The role played by cross-border banking flows in residential property markets…
View article: Understanding the Macro-Financial Effects of Household Debt: A Global Perspective
Understanding the Macro-Financial Effects of Household Debt: A Global Perspective Open
We confirm the negative relationship between household debt and future GDP growth documented in Mian, Sufi, and Verner (2017) for a wider set of countries over the period 1950-2016.Three mutually reinforcing mechanisms help explain this re…
View article: House Price Synchronicity, Banking Integration, and Global Financial Conditions
House Price Synchronicity, Banking Integration, and Global Financial Conditions Open
View article: Global Financial Stability Report, October 2016
Global Financial Stability Report, October 2016 Open
The current report finds that short-term risks to global financial stability have abated since April 2016, but that medium-term risks continue to build. Financial institutions in advanced economies face a number of cyclical and structural …
View article: Emerging Market Corporate Leverage and Global Financial Conditions
Emerging Market Corporate Leverage and Global Financial Conditions Open
View article: Emerging Market Corporate Leverage and Global Financial Conditions
Emerging Market Corporate Leverage and Global Financial Conditions Open
View article: Centrality-based Capital Allocations
Centrality-based Capital Allocations Open
This paper looks at the effect of capital rules on a banking system that is connected through correlated credit exposures and interbank lending. Keeping total capital in the system constant, the reallocation rules, which combine individual…
View article: Centrality-based Capital Allocations
Centrality-based Capital Allocations Open
This paper looks at the effect of capital rules on a banking system that is connected through correlated credit exposures and interbank lending. Keeping total capital in the system constant, the reallocation rules, which combine individual…
View article: Centrality-Based Capital Allocations
Centrality-Based Capital Allocations Open
View article: Public Investment in a Developing Country Facing Resource Depletion
Public Investment in a Developing Country Facing Resource Depletion Open
This paper analyzes the tradeoffs between savings, debt and public investment in the Republic of Congo, a developing country with looming oil exhaustibility concerns. Our results highlight the risks to fiscal and capital sustainability of …