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Leverage Across Firms, Banks and Countries

Kalemli-Ozcan, Sebnem; Sørensen, Bent E; Yesiltas, Sevcan - C.E.P.R. Discussion Papers - 2011

We present new stylized facts on bank and firm leverage for 2000-2009 using extensive internationally comparable micro level data from several countries. The main result is that there was very little buildup in leverage for the average non-financial firm and commercial bank before the crisis,...

Persistent link: https://www.econbiz.de/10009283393

Cross-Country Causes and Consequences of the 2008 Crisis: Early Warning

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2009

equity markets; international imbalances and foreign reserve adequacy; macroeconomic policies; and institutional and …

Persistent link: https://www.econbiz.de/10004969128

Cross-Country Causes and Consequences of the 2008 Crisis: International Linkages and American Exposure

Rose, Andrew K; Spiegel, Mark - C.E.P.R. Discussion Papers - 2009

Multiple Cause (MIMIC) model. Our analysis is conducted on a cross-section of 85 countries; we focus on international linkages … are both national (such as equity market run-ups that preceded the crisis) and, critically, international financial and … number of possible causes in a flexible statistical framework, we are unable to find strong evidence that international …

Persistent link: https://www.econbiz.de/10008528523

Do We Really Know that the WTO Increases Trade?

Rose, Andrew K - C.E.P.R. Discussion Papers - 2002

This Paper estimates the effect on international trade of multilateral trade agreements: the World Trade Organization …

Persistent link: https://www.econbiz.de/10005124331

Contagion and Trade: Why are Currency Crises Regional

Glick, Reuven; Rose, Andrew K - C.E.P.R. Discussion Papers - 1998

international trade are important in understanding how currency crises spread, above and beyond any macroeconomic phenomena. We … 1997) we show that currency crises affect clusters of countries tied together by international trade. By way of contrast …

Persistent link: https://www.econbiz.de/10005136645

Size Really Doesn't Matter: In Search of a National Scale Effect

Rose, Andrew K - C.E.P.R. Discussion Papers - 2005

of a country's institutions, heterogeneity, and a number of different international indices and rankings. I have little … success; small countries are more open to international trade than large countries, but are not systematically different …

Persistent link: https://www.econbiz.de/10005498014

Protectionism Isn’t Counter-Cyclic (anymore)

Rose, Andrew K - C.E.P.R. Discussion Papers - 2012

Conventional wisdom holds that protectionism is counter-cyclic; tariffs, quotas and the like grow during recessions. While that may have been a valid description of the data before the Second World War, it is no longer accurate. In the post-war era, protectionism has not actually moved...

Persistent link: https://www.econbiz.de/10011083599

What Calls to ARMs? International Evidence on Interest Rates and the Choice of Adjustable Rate Mortgages

Badarinza, Cristian; Campbell, John Y; Ramadorai, Tarun - C.E.P.R. Discussion Papers - 2014

The relative popularity of adjustable-rate mortgages (ARMs) and fixed-rate mortgages (FRMs) varies considerably both across countries and over time. We ask how movements in current and expected future interest rates affect the share of ARMs in total mortgage issuance. Using a nine-country panel...

Persistent link: https://www.econbiz.de/10011084239

Do WTO Members have More Liberal Trade Policy?

Rose, Andrew K - C.E.P.R. Discussion Papers - 2002

This Paper uses 67 measures of trade policy and trade liberalization to ask if membership in the World Trade Organization (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) is associated with more liberal trade policy. Almost no measures of trade policy are significantly...

Persistent link: https://www.econbiz.de/10005662054

Does a Currency Union Affect Trade? The Time Series Evidence

Glick, Reuven; Rose, Andrew K - C.E.P.R. Discussion Papers - 2001

Does leaving a currency union reduce international trade? We answer this question using a large annual panel data set …

Persistent link: https://www.econbiz.de/10005666714