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This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …
Persistent link: https://www.econbiz.de/10013242908
This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …
Persistent link: https://www.econbiz.de/10012473688
for the United States but also with reference to the wider world. We establish the outlines of international integration a … century ago and analyze the institutional and informational impediments that prevented the late nineteenth century world from … achieving the same degree of integration as today. We conclude that the world today is different: commercial and financial …
Persistent link: https://www.econbiz.de/10001392028
Do global current account imbalances still matter in a world of deep international financial markets where gross two …" view of the world, large current account imbalances, while very possibly warranted by fundamentals and welcome, can also …
Persistent link: https://www.econbiz.de/10012460782
Do global current account imbalances still matter in a world of deep international financial markets where gross two …" view of the world, large current account imbalances, while very possibly warranted by fundamentals and welcome, can also …
Persistent link: https://www.econbiz.de/10013109869
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We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of contagion. While we find evidence of...
Persistent link: https://www.econbiz.de/10010229208