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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
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
2009 ist eine Diskussion darüber entbrannt, inwieweit die derzeitige Finanzkrise Einfluss auf die mittelfristigen … Zeitreihenmodellen abgeschätzt. Die Ergebnisse deuten darauf hin, dass das Niveau des Produktionspotenzials aufgrund der Finanzkrise … Euro ableiten. Demgegenüber dürfte die Trendwachstumsrate in den kommenden Jahren bei 1,3 % liegen und damit nur …
Persistent link: https://www.econbiz.de/10010427571
I discuss briefly the crisis itself and then give some criteria that should be used in evaluating any policy proposed o deal with it. This is followed by a critical discussion of some of the policy measures that have been suggested. Finally, I give a list of proposals, that I believe best...
Persistent link: https://www.econbiz.de/10010427521
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
by robust statistical methods. The estimation period reaches from 1997 to 2007. It is shown that most of the composite …
Persistent link: https://www.econbiz.de/10010265989
In this paper we assess the information content of seven widely cited early indicators for the euro area with respect … forecasts the OECD composite leading indicator performs very good by all criteria, and for 12-month forecasts the FAZ-Euro …
Persistent link: https://www.econbiz.de/10010270868
subgroups including Euro area countries, the UK and the US respectively, provides evidence of a global convergence …
Persistent link: https://www.econbiz.de/10010274514
In this paper we assess the information content of seven widely cited early indicators for the euro area with respect … indicator, the OECD composite leading indicator, and the FAZ-Euro indicator published by the Frankfurter Allgemeine Zeitung. If …
Persistent link: https://www.econbiz.de/10010427576
Liquidity problems lie at the heart of crises on financial markets as demonstrated in this paper by detailed descriptions of the stock market crash in 1987, the LTCM-crisis in 1998 and the financial market consequences of 11 September 2001. The events also demonstrate that modern central banks,...
Persistent link: https://www.econbiz.de/10010427504