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Extreme value theory as a theoretical background for power law behavior

Alfarano, Simone; Lux, Thomas - 2010

therefore allows its application in many diverse fields. Moreover, this theory offers new powerful techniques for the estimation …

Persistent link: https://www.econbiz.de/10010277948

Markov or not Markov - this should be a question

Bickenbach, Frank; Bode, Eckhardt - 2001

Although it is well known that Markov process theory, frequently applied in the literature on income convergence, imposes some very restrictive assumptions upon the data generating process, these assumptions have generally been taken for granted so far. The present paper proposes, resp. recalls...

Persistent link: https://www.econbiz.de/10010265521

The euro's trade effect under cross-sectional heterogeneity and stochastic resistance

Herwartz, Helmut; Weber, Henning - 2010

This paper investigates if the euro's effect on euro-area trade differs across trade sectors and across country pairs …, and to what degree heterogeneity matters for estimating the aggregate euro effect. Time-varying latent variables, which …, aggregate exports within the euro area increase between 2000 and 2002 by 15 to 25 percent compared with aggregate exports …

Persistent link: https://www.econbiz.de/10010270031

Banking and balance of payments crises: On possible causes of the twin crises

Buch, Claudia M.; Heinrich, Ralph P. - 1998

Banking and balance of payments crises often happen quite simultaneously. We show that the impact of an expected devaluation on the net worth of commercial banks with a short open foreign exchange position speeds up the timing of a balance of payments crisis. We employ an asymmetric information...

Persistent link: https://www.econbiz.de/10010275494

Die Weltwirtschaft im Umbruch: müssen die Realeinkommen der Arbeitnehmer sinken?

Siebert, Horst - 1996

Persistent link: https://www.econbiz.de/10010265285

Konjunkturschwankungen in den asiatischen NICs und in ausgewählten Industrieländern: Synchronisation oder Divergenz?

Fels, Joachim - 1988

Die stärkste Dynamik in der Weltwirtschaft entfaltet derzeit die asiatisch-pazifische Region. Besonders kräftig wachsen dort die vier Schwellenländer Südkorea, Taiwan, Hongkong und Singapur, die im folgenden als asiatische NICs (für Newly Industrializing Countries) bezeichnet werden. Sie...

Persistent link: https://www.econbiz.de/10010275522

Estimating the shape of economic crises under heterogeneity

Dovern, Jonas; Jannsen, Nils - 2009

During the ongoing financial crisis the analysis of similar historical crises has gained more and more attention among economic researchers and forecasters. Existing studies, however, do not tackle the immense heterogeneity that is present in cross-country samples in a formal and consistent way....

Persistent link: https://www.econbiz.de/10010265233

Surviving the crisis: Foreign multinationals vs domestic firms

Godart, Olivier; Görg, Holger; Hanley, Aoife - 2011

Starting from the observation that all firms in Ireland (foreign and domestic in manufacturing and services industries) were hit by the crisis, the paper asks whether there is a difference in the behaviour of foreign and domestic firms. One hypothesis is that foreign multinationals are less...

Persistent link: https://www.econbiz.de/10010285497

Euro area: Single currency - national money creation

Kooths, Stefan; van Roye, Björn - 2012

maintaining financial stability in the euro area by providing vast liquidity support to commercial banks that are operating in … centrifugal forces become that ultimately might break up the single currency. Instead of a fiscal union, a euro …

Persistent link: https://www.econbiz.de/10010288223

Globalization, pass-through and inflation dynamic

Benigno, Pierpaolo; Faia, Ester - 2010

An important aspect of the globalization process is the increase in interdependence among countries through the deepening of trade linkages. This process should increase competition in each destination market and change the pricing behavior of firms. We present an extension of Dornbusch (1987)'s...

Persistent link: https://www.econbiz.de/10010326562