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Jeanne, Olivier; Rose, Andrew K - C.E.P.R. Discussion Papers - 1999

both create and share the risk associated with exchange rate volatility. In such circumstances, monetary policy can be used … of noise traders alters the composition of the market and generates excess exchange rate volatility, since noise traders … to lower exchange rate volatility without altering macroeconomic fundamentals. …

Persistent link: https://www.econbiz.de/10005666966

Preferred Risk Habitat of Individual Investors

Dorn, Daniel; Huberman, Gur - C.E.P.R. Discussion Papers - 2007

commensurate with their risk aversion; more risk-averse individuals pick lower-volatility stocks. The investors' portfolio …The preferred risk habitat hypothesis, introduced here, is that individual investors select stocks with volatilities … consistent with the predictions of the hypothesis: the portfolios contain highly similar stocks in terms of volatility, when …

Persistent link: https://www.econbiz.de/10005067451

Apocalypse Then: The Evolution of the North Atlantic Economy and the Global Crisis

Bayoumi, Tamim; Bui, Trung - C.E.P.R. Discussion Papers - 2011

The financial crisis that struck the global economy in late 2008 had its origins in excesses in the US housing market. Its reverberations, however, were felt around the world and nowhere more keenly than in Western Europe. While North Atlantic trade links were in relative stasis, the North...

Persistent link: https://www.econbiz.de/10009365005

What Can Be Learned from Crisis-Era Protectionism? An Initial Assessment

Evenett, Simon J - C.E.P.R. Discussion Papers - 2009

Drawing upon a comprehensive database of contemporary protectionism, this paper offers an initial assessment of the extent to which our understanding of protectionism may have to evolve. While some long-standing features of protectionism appear to have endured (such as the distribution of...

Persistent link: https://www.econbiz.de/10008506838

The Spanish Crisis: Background and Policy Challenges

Suarez, Javier - C.E.P.R. Discussion Papers - 2010

This paper reviews the background and key policy challenges of the current situation of the Spanish economy. It describes the strengths and weaknesses of Spain’s recent long growth cycle, the real and financial imbalances accumulated towards its end, and the troubles faced at the current...

Persistent link: https://www.econbiz.de/10008554220

The Role of Political Partisanship during Economic Crises

Galasso, Vincenzo - C.E.P.R. Discussion Papers - 2010

Large economic crises require quick policy reactions. They bring a sense of urgency by increasing the cost of the status quo, and may thus force policy-makers to reform. However, large crises increase also uncertainty for many individuals (entrepreneurs, workers, retirees), and thus induce more...

Persistent link: https://www.econbiz.de/10008468697

Crises, What Crises?

Campos, Nauro F; Hsiao, Cheng; Nugent, Jeffrey B - C.E.P.R. Discussion Papers - 2006

Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises that are the most important drivers of structural...

Persistent link: https://www.econbiz.de/10005136426

Short-Time Work: The German Answer to the Great Recession

Brenke, Karl; Rinne, Ulf; Zimmermann, Klaus F - C.E.P.R. Discussion Papers - 2011

Short-time work was the 'German answer' to the economic crisis. The number of short-time workers strongly increased in the recession and peaked at more than 1.5 million. Without the extensive use of short-time work, unemployment would have risen by approximately twice as much as it actually did....

Persistent link: https://www.econbiz.de/10009147409

How far away is a Single European Labor Market?

Krause, Annabelle; Rinne, Ulf; Zimmermann, Klaus F - C.E.P.R. Discussion Papers - 2014

A Single European Labor Market, particularly involving the free movement of workers within Europe, has been a goal of the European community since the 1950s. Whereas it may entail opportunities and drawbacks alike, the benefits—such as greater economic welfare for most citizens—are supposed...

Persistent link: https://www.econbiz.de/10011084178

Financial-Friction Macroeconomics with Highly Leveraged Financial Institutions

Luk, Sheung Kan; Vines, David - C.E.P.R. Discussion Papers - 2011

shocks. Financial institutions can only obtain their funds by paying an interest rate above the risk-free rate, and this risk …

Persistent link: https://www.econbiz.de/10009322500

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