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The banking and currency crises of the last two decades inflictedsubstantial financial, economic, and social damage on thecountries in which they originated. In this work, the efficiencyof early warning indicators for these disastrous economic eventsis evaluated. An analysis of the traditional...
Persistent link: https://www.econbiz.de/10009471830
about contagion effects of the financial crisis in Argentina in 2002 using Panel Probit estimation. Finally there is an …
Persistent link: https://www.econbiz.de/10009475333
After the collapse of the Bretton Woods system, developing countries, including Georgia, experienced several currency crises followed by severe recessions and deteriorated macroeconomic stability. This creates incentives for policymakers to predict currency crises in a timely manner, and avoid...
Persistent link: https://www.econbiz.de/10012522059
recently developed statistical and econometric techniques for estimation of non linear models, crises phenomena connected to …
Persistent link: https://www.econbiz.de/10009428990
after the introduction of the euro for the EMU countries asopposed to the non-EMU countries. I do not obtain strong evidence … supporting PPP forthe EMU countries since the euro adoption, but the faster mean reversion I observe inthe few EMU countries …) countriesthat adopted the euro, and 3 non-EMU countries] from 1993 to 2002 using a dynamicpanel data model. My main contributions to …
Persistent link: https://www.econbiz.de/10009465029
within the projected time frame. Despite the merits of nominal appreciation, countries committed to hard euro pegs might …
Persistent link: https://www.econbiz.de/10009483190
Traditionally clustered around one leading "hegemonic" world currency, with the introduction of the euro the … in the international consequences of the introduction of the Euro and analyzes the costs and gains from cooperation in …
Persistent link: https://www.econbiz.de/10009483196
of EMU). Second it reviews how ERM2 is conducive to future euro-zone membership of the accession countries. From the … "outs" to fulfill the convergence criteria, and whether in this case "ins" open the door for the "outs" to enter the euro … of the Central and Eastern European accession countries to the euro area. In order to overcome these pitfalls the author …
Persistent link: https://www.econbiz.de/10009483197
This paper examines the long-term financial integration of second-round acceding and candidate countries?? with the European Union and the US stock markets during the Accession Process. The lowpair wise correlations between these markets imply portfolio diversification opportunities, yet...
Persistent link: https://www.econbiz.de/10009483198
unevenly distributed over the participants ?? on the other hand, the internal (inflation) and external (value of the Euro vis …), whereas the "soft-currency" group has to carry the adjustment costs to a regime of fixed exchange rates (Euro) which results … ("soft-currency" countries). If the EMU will start with a large group there will be a tendency to devalue the Euro against …
Persistent link: https://www.econbiz.de/10009483202