Showing 1 - 10 of 30
This paper builds a model of investment and financing that incorporates heterogeneous firms into general equilibrium. In order to characterize the financial structure of an economy, the model connects the share of market finance in total external finance and the distribution of firm sizes into a...
Persistent link: https://www.econbiz.de/10005344815
(quality). Data patterns observed in Belgian firm-product level exports by destination are congruent with the predictions and …
Persistent link: https://www.econbiz.de/10011067252
last two waves of EU enlargement have had on Russia, as well as the role of the euro in Russia. The analysis suggests that … euro by Russian residents and authorities in international transactions has increased, albeit at an uneven pace. While, in … general, the US dollar remains the major foreign currency used by Russian residents, the euro has gained importance as an …
Persistent link: https://www.econbiz.de/10005222251
edition of the publication u0093Bond markets and long-term interest rates in non-euro area Member States of the European Union … this third edition has been extended to include all thirteen non-euro area EU member states and two accession countries …
Persistent link: https://www.econbiz.de/10009636827
economies (EMEs) on configurations between the US dollar, the euro and the yen. Given the difficulty that fixed or managed US … have a statistically but also an economically significant impact on the euro, and to a lesser extent the yen against the US … the appreciation of the euro against the US dollar in recent years. Interestingly, EME policy-makers appear to have become …
Persistent link: https://www.econbiz.de/10005344843
This paper investigates whether comovements between euro area equity returns at national and industry level have … changed after the introduction of the euro. By adopting a regression quantile-based methodology, we find that after 1999 the … degree of comovements among euro area national equity markets has augmented. By explicitly controlling for the impact of …
Persistent link: https://www.econbiz.de/10005344904
euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi …
Persistent link: https://www.econbiz.de/10009367477
Although recent research shows that the euro has spurred cross-border financial integration, the exact mechanisms … remain unknown. We investigate the underlying channels of the euro’s effect on financial integration using data on bilateral … euro’s impact on financial integration is primarily driven by eliminating the currency risk. Legislative …
Persistent link: https://www.econbiz.de/10008550448
process. We identify the impact of (i) joining the European Union and (ii) joining the Euro on cross-border M&As. We show that …
Persistent link: https://www.econbiz.de/10005002748
’s prosperity. The paper focuses on olitical events in Italy over the past 35 years and asks whether the adoption of the euro in …’s financial markets throughout the 1970s, 1980s and 1990s. The introduction of the euro appears to have indeed played a major role …
Persistent link: https://www.econbiz.de/10005002792