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Oil prices, exchange rates and asset prices
Fratzscher, Marcel; Schneider, Daniel; Van Robays, Ine - European Central Bank - 2014
This paper takes a financial market perspective in examining the relationship between oil prices, the US dollar and asset prices, and it exploits the heteroskedasticity for the identification of causality in a multifactor model. It finds a bidirectional causality between the US dollar and oil...
Persistent link: https://www.econbiz.de/10011067221
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The mutating euro area crisis: is the balance between "sceptics" and "advocates" shifting?
Mongelli, Francesco Paolo - European Central Bank - 2013
The destructive potential of the sovereign debt crisis of the euro area has been slowly abating since last summer, but … euro area, and the other being an erosion of trust in the viability of the euro area itself. Such concerns have led to talk … the crisis or the future of the euro area. While the crisis is a traumatic wake-up call, it is also a catalyst for change …
Persistent link: https://www.econbiz.de/10010693504
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Has the Euro affected the choice of invoicing currency?
Ligthart, Jenny E.; Werner, Sebastian E. V. - European Central Bank - 2012
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency … invoicing after the introduction of the euro, whereas the home currency share of non-eurozone countries fell slightly. In … addition, the euro as a vehicle currency has overtaken the role of the US dollar in Norwegian imports. The substantial rise in …
Persistent link: https://www.econbiz.de/10010686764
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The mutating euro area crisis: is the balance between "sceptics" and "advocates" shifting?
Mongelli, Francesco Paolo - European Central Bank - 2013
The destructive potential of the sovereign debt crisis of the euro area has been slowly abating since last summer, but … euro area, and the other being an erosion of trust in the viability of the euro area itself. Such concerns have led to talk … the crisis or the future of the euro area. While the crisis is a traumatic wake-up call, it is also a catalyst for change …
Persistent link: https://www.econbiz.de/10010688313
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One currency, one price? Euro changeover-related inflation in Estonia
Meriküll, Jaanika; Rõõm, Tairi - European Central Bank - 2014
This paper studies euro changeover-related inflation using disaggregated price level data. The difference …-in-differences approach is used and the control group for the treatment country, Estonia, is built from 12 euro area countries. The Nielsen … overall inflationary effect of euro adoption was modest, the effects were significantly different across various market …
Persistent link: https://www.econbiz.de/10011067230
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The Heterogeneity of MNC' Subsidiaries and Technology Spillovers: Explaining positive and negative effects in emerging economies
Marin, Anabel; Sasidharan, Subash - United Nations University-Maastricht Economic Research … - 2008
Conventional models of multinational corporation (MNC) related spillovers in host economies assume that they derive from the technological assets created at the headquarters. Subsidiaries' activities in the host economy are not given any role in this process. In this paper, drawing on recent...
Persistent link: https://www.econbiz.de/10010856308
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Do we need different frameworks to explain infant MNEs from developing countries?
Narula, Rajneesh - United Nations University-Maastricht Economic Research … - 2011
Applying extant IB theory, I argue that initial firm internationalisation is shaped by the interdependence and dynamic interaction between its O assets and the L assets of its home location. Regardless of nationality, the initial O assets of an infant MNE tend to be constrained by the L assets...
Persistent link: https://www.econbiz.de/10010856340
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Russia's emerging multinationals: trends and issues
Filippov, Sergey - United Nations University-Maastricht Economic Research … - 2008
The paper focuses on the emergence of Russia's multinational companies. It aims to analyse their motives to internationalise as well as the approaches to internationalisation. While relevance of the theoretical perspectives is highlighted, the intention of the paper is to contribute to the...
Persistent link: https://www.econbiz.de/10010856349
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The challenge of measuring innovation in emerging economies' firms: A proposal of a new set of indicators on innovation
Marins, Luciana - United Nations University-Maastricht Economic Research … - 2008
The traditional indicators on innovation rely on the linear assumption that research leads to development, centring on the measurement of inputs and outputs. Based on the traditional innovation indicators, recent studies focused on the industrial innovation process at Latin America state that...
Persistent link: https://www.econbiz.de/10010856387
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Technology alliances in emerging economies: Persistence and interrelation in European firms' alliance formation
Belderbos, Rene; Gilsing, Victor; Jacob, Jojo - United Nations University-Maastricht Economic Research … - 2011
We analyze patterns and determinants of technology alliance formation with partner firms from emerging economies, with a focus on European firms' alliance strategies. We examine to what extent European firms' alliance formation with partners based in emerging economies is persistent, that is: to...
Persistent link: https://www.econbiz.de/10010856416