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The Euro/Dollar exchange rate: Chaotic or non-chaotic?
Federici, Daniela; Gandolfo, Giancarlo - 2011
econometrically estimated in continuous time with Euro/Dollar data and examined for the possible presence of chaotic motion. Our …
Persistent link: https://www.econbiz.de/10010274880
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Monetary policy spillovers and emerging market credit: The impact of Federal Reserve communications on sovereign CDS spreads
Fender, Ingo; Hayo, Bernd; Neuenkirch, Matthias - 2011
In this paper, we study the effects of US target rate changes and related communications by members of the Federal Reserve Board of Governors on spreads for emerging market sovereign credit default swaps (CDS). Using GARCH models, we find that during the pre-financial crisis sub-sample (April...
Persistent link: https://www.econbiz.de/10010286429
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China and its Dollar exchange rate: A worldwide stabilizing influence?
McKinnon, Ronald; Schnabl, Gunther - 2011
We argue that criticism concerning the Chinese dollar peg is misplaced as no predictable link exists between the exchange rate and the trade balance of an international creditor economy. The stable nominal yuan/dollar rate is argued to have stabilized Chinese, East Asian and global growth....
Persistent link: https://www.econbiz.de/10010275052
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Testing for convergence in stock markets : a non-linear factor approach
Caporale, Guglielmo Maria; Erdogan, Burcu; Kuzin, … - 2009
subgroups including Euro area countries, the UK and the US respectively, provides evidence of a global convergence …
Persistent link: https://www.econbiz.de/10010274514
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After the Bust: The Outlook for Macroeconomics & Macroeconomic Policy
Palley, Thomas I. - 2008
The current economic crisis offers an historic opportunity for change. The depth of the crisis means there will likely be a policy turn in a Keynesian and even Post Keynesian direction. However, there are profound political, intellectual and sociological obstacles blocking change in underlying...
Persistent link: https://www.econbiz.de/10010460471
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The European Financial and Economic Crisis: Alternative Solutions from a (Post-) Keynesian Perspective
Hein, Eckhard; Truger, Achim; van Treeck, Till - 2011
The financial and economic crisis in the Euro area has revealed a number of important flaws in the economic policy … euro, are not sustainable; and this is more serious in a period of crisis in particular. On the other hand, it has become … clear that the Euro area suffers from a serious lack of institutions and policy concepts, which will not allow coping with …
Persistent link: https://www.econbiz.de/10010460503
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Did inequality cause the U.S. financial crisis?
van Treeck, Till - 2012
In his widely discussed book "Fault Lines" (2010), Raghuram Rajan argues that many U.S. consumers have reacted to the decline in their relative permanent incomes since the early 1980s by reducing saving and increasing debt. This has temporarily kept private consumption and thus aggregate demand...
Persistent link: https://www.econbiz.de/10010460517
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Real-time Markov Switching and Leading Indicators in Times of the Financial Crisis
Theobald, Thomas - 2012
This paper uses several macroeconomic and financial indicators within a Markov Switching (MS) framework to predict the turning points of the business cycle. The presented model is applied to monthly German real-time data covering the recession and the recovery after the financial crisis. We show...
Persistent link: https://www.econbiz.de/10010460521
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Escaping from a combination of liquidity trap and credit crunch
Heinemann, Frank - 2008
This brief exposition suggests that the Federal Reserve System temporarily guarantee a lower bound on stock prices in order to escape the current combination of liquidity trap and credit crunch. It shortly discusses reasons for this measure, consequences, and some alternatives. It is meant as a...
Persistent link: https://www.econbiz.de/10010264478
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Is socially responsible investing really beneficial? New empirical evidence for the US and European stock markets
Mollet, Janick Christian; Ziegler, Andreas - 2012
This paper empirically examines the theoretically ambivalent relationship between socially responsible investing (SRI) and stock performance. It extends the existing literature by considering both the US and the entire European stock markets as well as by using consistent world-wide corporate...
Persistent link: https://www.econbiz.de/10010294388