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International Banking: the Isolation of the Euro Area
Bouvatier, Vincent; Delatte, Anne-Laure - C.E.P.R. Discussion Papers - 2014
We assess the evolution of international banking integration at the light of gravity equations on banks’ bilateral … rest of the world, the banking integration has strengthened since the financial crisis. …
Persistent link: https://www.econbiz.de/10011083790
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Market Potential and Development
Mayer, Thierry - C.E.P.R. Discussion Papers - 2008
and Mayer (2004). The empirical part evaluates this market potential for all countries in the world with available trade …
Persistent link: https://www.econbiz.de/10005791989
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International Investment Patterns
Lane, Philip R.; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2004
We provide a systematic analysis of bilateral, source and host factors driving portfolio equity investment across countries, using newly released data on international equity holdings at the end of 2001. We develop a model that links bilateral equity holdings to bilateral trade in goods and...
Persistent link: https://www.econbiz.de/10005792289
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The Distance Effect and the Regionalization of the Trade of Low-Income Countries
Carrère, Céline; de Melo, Jaime; Wilson, John - C.E.P.R. Discussion Papers - 2009
—i.e. the low-income countries according to the World Bank classification, 2006). We show that this group has intensified trade … in a host of studies based on the gravity model, leading observers to call it the “distance puzzle”. We review the … several methods on cross-section and panel estimates of the gravity equation, we estimate that low-income countries exhibit a …
Persistent link: https://www.econbiz.de/10008528539
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Problems of Post-CMEA Trade and Payments
Rosati MEP, Dariusz - C.E.P.R. Discussion Papers - 1992
The demise of the CMEA trading system in 1991 and the shift to convertible currency settlements and world market prices …
Persistent link: https://www.econbiz.de/10005136560
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Disintegration and Trade
Fidrmuc, Jan; Fidrmuc, Jarko - C.E.P.R. Discussion Papers - 2000
The gravity model of trade is utilized to assess the impact of disintegration on trade. The analysis is based on three …
Persistent link: https://www.econbiz.de/10005498102
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Vehicle Currencies, Bank Debt and the Asset Market Approach to Exchange Rate Determination: The US Dollar, 1980-1985
Thomas, Stephen H; Wickens, Michael R. - C.E.P.R. Discussion Papers - 1987
This paper examines the appreciation of the dollar over the period 1980-85. The standard theories try to explain the increased demand for dollar assets by differential rates of return on bonds or by "safe-haven" arguments associated with the lower riskiness of United States assets. Neither of...
Persistent link: https://www.econbiz.de/10005662155
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Global Liquidity and Drivers of Cross-Border Bank Flows
Cerutti, Eugenio; Claessens, Stijn; Ratnovski, Lev - C.E.P.R. Discussion Papers - 2014
This paper studies the determinants of global liquidity using data on cross-border bank flows, with a longer time … liquidity is driven primarily by uncertainty (VIX), US monetary policy (term premia), and UK and Euro Area bank conditions … tools, and bank regulation. …
Persistent link: https://www.econbiz.de/10011145399
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The Euro and the Geography of International Debt Flows
Hale, Galina B; Obstfeld, Maurice - C.E.P.R. Discussion Papers - 2014
Greater financial integration between core and peripheral EMU members had an effect on both sets of countries. Lower interest rates allowed peripheral countries to run bigger deficits, which inflated their economies by allowing credit booms. Core EMU countries took on extra foreign leverage to...
Persistent link: https://www.econbiz.de/10011083714
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Systemic Risk and Network Formation in the Interbank Market
Cohen-Cole, Ethan; Patacchini, Eleonora; Zenou, Yves - C.E.P.R. Discussion Papers - 2011
We propose a novel mechanism to facilitate understanding of systemic risk in financial markets. The literature on systemic risk has focused on two mechanisms, common shocks and domino-like sequential default. Our approach is a formal model that provides an intellectual combination of the two by...
Persistent link: https://www.econbiz.de/10009003370