How Long to Read Financial Stress and Economic Activity: Evidence from a New Worldwide Index

How Long Does it Take to Read Financial Stress and Economic Activity: Evidence from a New Worldwide Index?

It takes the average reader 2 hours and 13 minutes to read Financial Stress and Economic Activity: Evidence from a New Worldwide Index by Hites Ahir

Assuming a reading speed of 250 words per minute. Learn more

Description

This paper uses text analysis to construct a continuous financial stress index (FSI) for 110 countries over each quarter during the period 1967-2018. It relies on a computer algorithm along with human expert oversight and is thus easy to update. The new indicator has a larger country and time coverage and higher frequency than similar measures focusing on advanced economies. And it complements existing binary chronologies in that it can assess the severity of financial crises. We use the indicator to assess the impact of financial stress on the economy using both country- and firm-level data. Our main findings are fivefold: i) consistent with existing literature, we show an economically significant and persistent relationship between financial stress and output; ii) the effect is larger in emerging markets and developing economies and (iii) for higher levels of financial stress; iv) we deal with simultaneous causality by constructing a novel instrument—financial stress originating from other countries—using information from the text analysis, and show that, while there is clear evidence that financial stress harms economic activities, OLS estimates tend to overestimate the magnitude of this effect; (iv) we confirm the presence of an exogenous effect of financial stress through a difference-in-differences exercise and show that effects are larger for firms that are more financially constrained and less profitable.

How long is Financial Stress and Economic Activity: Evidence from a New Worldwide Index?

Financial Stress and Economic Activity: Evidence from a New Worldwide Index by Hites Ahir is 132 pages long, and a total of 33,264 words.

This makes it 45% the length of the average book. It also has 41% more words than the average book.

How Long Does it Take to Read Financial Stress and Economic Activity: Evidence from a New Worldwide Index Aloud?

The average oral reading speed is 183 words per minute. This means it takes 3 hours and 1 minute to read Financial Stress and Economic Activity: Evidence from a New Worldwide Index aloud.

What Reading Level is Financial Stress and Economic Activity: Evidence from a New Worldwide Index?

Financial Stress and Economic Activity: Evidence from a New Worldwide Index is suitable for students ages 10 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Financial Stress and Economic Activity: Evidence from a New Worldwide Index?

Financial Stress and Economic Activity: Evidence from a New Worldwide Index by Hites Ahir is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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