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Persistent link: https://www.econbiz.de/10011847323
, consumption, investment and sectoral allocations, and the composition of financial assets. …
Persistent link: https://www.econbiz.de/10010869435
Popular perception is that emerging market economies (EMEs), and Asian Pacific Rim countries—China, Indonesia, Korea, Malaysia, Philippines, Thailand, and Vietnam (RIMs)—in particular, have been rapidly accumulating reserves, perhaps beyond what is justified by precautionary motives. This...
Persistent link: https://www.econbiz.de/10011077094
We analyze the way in which Latin American countries have adjusted to commodity terms of trade (CTOT) shocks in the 1970–2007 period. Specifically, we investigate the degree to which the active management of international reserves and exchange rates impacted the transmission of international...
Persistent link: https://www.econbiz.de/10011048521
We explore the stability of the conditioning variables accounting for the real estate valuation before and after the crisis of 2008–9, in a panel of 36 countries, recognizing the crisis break. We validate the robustness of the association between the real estate valuation and lagged current...
Persistent link: https://www.econbiz.de/10011077096
We develop a model of risk sharing in which agents can pool their consumption risks in both national and local markets … and then smooth the remaining consumption fluctuations with credit markets. Estimating the model with a unique dataset on … risk in the national market rather than the local market. The welfare gain from reaching the perfect consumption risk …
Persistent link: https://www.econbiz.de/10011190180
Using a panel dataset covering 139 countries over the 1970–2009 period, we empirically investigate the role of foreign direct investment on growth through diffusion of technology and innovation. Using an otherwise standard growth regression and regressions on productivity growth, we introduce...
Persistent link: https://www.econbiz.de/10010709327
We investigate whether the ECB aligns its monetary policy with financial crisis risk in EMU member countries. We find that since the outbreak of the subprime crisis the ECB has significantly increased net lending and reduced interest rates when banking and sovereign debt crisis risk in...
Persistent link: https://www.econbiz.de/10010573196
Persistent link: https://www.econbiz.de/10011615751
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