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Does Regulatory Harmonization Increase Bilateral Asset Holdings?

Vlachos, Jonas - C.E.P.R. Discussion Papers - 2004

By combining new data on bilateral asset holdings with data on securities regulation in an empirical gravity model, it … is found that bilateral differences in securities regulation lead to decreased portfolio holdings. Hence, regulatory … the exogenous component of asset holdings to be associated with larger differences in securities regulation. This might …

Persistent link: https://www.econbiz.de/10005124356

Globalization and Business Cycle Transmission

Artis, Michael J; Okubo, Toshihiro - C.E.P.R. Discussion Papers - 2008

The paper uses long-run GDP data for developed countries drawn from Maddison (2003) to generate deviation cycles for the period from 1870 to 2001. The cyclical deviates are examined for their bilateral cross-correlation values in three separate periods, those of the first globalization wave...

Persistent link: https://www.econbiz.de/10005792022

On Identifying the Core of EMU: An Exploration of Some Empirical Criteria

Artis, Michael J; Zhang, Wenda - C.E.P.R. Discussion Papers - 1997

The paper reports strikingly high correlations of the cyclical components of industrial production between the participant countries in the ERM. Supplementing these correlations with criteria based on real exchange rate volatility, trade and monetary policy conformity, cluster analysis is used...

Persistent link: https://www.econbiz.de/10005123757

Are European Business Cycles Close Enough to be Just One?

Camacho, Maximo; Pérez-Quirós, Gabriel; Sáiz Matute, … - C.E.P.R. Discussion Papers - 2005

We propose a comprehensive methodology to characterize the business cycle comovements across European economies and some industrialized countries, always trying to ‘let the data speak’. Out of this framework, we propose a novel method to show that there is no ‘Euro economy’ that acts as...

Persistent link: https://www.econbiz.de/10005124454