Showing 1 - 10 of 84
Persistent link: https://www.econbiz.de/10014320179
Persistent link: https://www.econbiz.de/10012016788
We develop a model of bank risk-taking with strategic sovereign default risk. Domestic banks invest in real projects and purchase government bonds. While an increase in bond purchases crowds out profitable investments, it improves the government's incentives to repay and therefore lowers its...
Persistent link: https://www.econbiz.de/10012301195
Persistent link: https://www.econbiz.de/10009671476
Persistent link: https://www.econbiz.de/10003529083
the estimation results, two currencies, the Swiss franc and (to a lesser extent) the US dollar qualify as safe haven … currencies, and the euro serves as a hedge currency. Results for the yen support its role as a carry funding vehicle, but not … analysis of bilateral euro-based exchange rates, given the euro’s prominent role during the euro area sovereign debt crisis. …
Persistent link: https://www.econbiz.de/10010433356
A growing literature stresses the importance of the “global financial cycle”, a common global movement in asset prices and credit conditions, for emerging market economies (EMEs). It is argued that one of the key drivers of this global cycle is monetary policy in the U.S., which is...
Persistent link: https://www.econbiz.de/10011405101
Based on the decline in real GDP growth, many economists now believe that the 'Great Recession', the output contraction the world experienced in 2008–09, is the deepest global economic contraction since the Great Depression. But as real-time real GDP data are typically revised, we investigate...
Persistent link: https://www.econbiz.de/10009762417
Persistent link: https://www.econbiz.de/10011883779
Persistent link: https://www.econbiz.de/10003528805