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An International Rule System to Avoid Financial Instability

Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2008

In a series of summits, leading countries of the world will meet to draw up an in¬ternational arrangement for financial stability. Such a rule system should prevent a financial crisis as we have seen it in 2007 and 2008. It should include appropriate principles of mone¬tary policy, rules for...

Persistent link: https://www.econbiz.de/10005818852

Financial stress and economic activity in Germany and the Euro Area

Roye, Björn van - Institut für Weltwirtschaft (IfW) - 2011

The financial crisis 2008-2009 and the European sovereign debt crisis have shown that stress on financial markets is important for analyzing and forecasting economic activity. Since financial stress is not directly observable but is presumably reflected in many financial market variables, it is...

Persistent link: https://www.econbiz.de/10009365865

Untangling the Quality of Governance from the Level of Income: Are Sub-Saharan African Countries Governed Well?

Gundlach, Erich; Hartmann, Susanne - Institut für Weltwirtschaft (IfW) - 2005

countries, as suggested by recent studies on the supremacy of institutions. Our empirical results show that the supremacy of … institutions does not hold. SSA countries appear to face very specific development problems. Given their geographic and economic … empirical evidence that appears to imply the supremacy of institutions. …

Persistent link: https://www.econbiz.de/10010886842

The Primacy of Institutions Reconsidered: The Effects of Malaria Prevalence in the Empirics of Development

Gundlach, Erich - Institut für Weltwirtschaft (IfW) - 2004

I reconsider the primacy of institutions over geography as an explanatory factor of cross-country differences in … specifications and samples. Unbiased estimates of the relative performance effects of institutions and malaria prevalence are … difficult to obtain due to a lack of independent instrumental variables. Conditional on a restricted effect of institutions, my …

Persistent link: https://www.econbiz.de/10005076113

How cooperative was the spirit? A note on the Eichengreen-view of Europe after World War II

Paqué, Karl-Heinz - Institut für Weltwirtschaft (IfW) - 1995

This paper is an empirical critique of Barry Eichengreen's interpretation of the exceptional growth performance of Western Europe during the 1950s and 1960s. The main part of the paper shows that, at least for the important case of West Germany, Eichengreen fs view of a broad-based economic and...

Persistent link: https://www.econbiz.de/10009276093

International transmission of financial stress: evidence from a GVAR

Dovern, Jonas; Roye, Björn van - Institut für Weltwirtschaft (IfW) - 2013

We analyze the international transmission of financial stress and its effects on economic activity. We construct country specific monthly financial stress indexes (FSI) using dynamic factor models from 1970 until 2012 for 20 countries. We show that there is a strong co-movement of the FSI during...

Persistent link: https://www.econbiz.de/10010886840

Financial stress and economic dynamics: an application to France

Aboura, Sofiane; Roye, Björn van - Institut für Weltwirtschaft (IfW) - 2013

In this paper, we develop a financial stress index for France that can be used as a real-time composite indicator for the state of financial stability in France. We take 17 financial variables from different market segments and extract a common stress component using a dynamic approximate factor...

Persistent link: https://www.econbiz.de/10010886871

Addressing the psychology of financial markets

Tuckett, David - Institut für Weltwirtschaft (IfW) - 2009

the way market institutions have evolved to compete by selling the promise of exceptional performance. To cope with the …

Persistent link: https://www.econbiz.de/10005083355

Liberalization and Regulation of International Capital Flows: Where the Opposites Meet

Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2001

reject the view that financial globalization has deprived national policymakers of the means to protect their economies …

Persistent link: https://www.econbiz.de/10005700530

Firm Heterogeneity and Choice of Ownership Structure: An Empirical Analysis of German FDI in India

Görg, Holger; Lauber, Verena; Meyer, Birgit; … - Institut für Weltwirtschaft (IfW) - 2008

We contribute to the nascent literature on the heterogeneity of multinational enterprises (MNEs) and the relevance of firm characteristics for analyzing the determinants of outward foreign direct investment (FDI). The focus is on the role of firm-level heterogeneity when MNEs decide on the share...

Persistent link: https://www.econbiz.de/10005700539