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Measuring Long-Run Exchange Rate Pass-Through
de Bandt, Olivier; Banerjee, Anindya; Kozluk, Tomasz - Institut für Weltwirtschaft (IfW) - 2007
prices), which is typically ignored in existing empirical studies. We use time series and up-to-date panel data techniques to …
Persistent link: https://www.econbiz.de/10005083403
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EU Integration and its Implications for Asian Economies – What we Know and What Not
Langhammer, Rolf J.; Schweickert, Rainer - Institut für Weltwirtschaft (IfW) - 2006
trade creation effect of monetary integration (so-called Rose effect) which is heavily debated in the literature. Recent … are already highly integrated in terms of trade and factor mobility. The potential discrimination effect against trade … to Europe. At the same time, so-called overlap or similarity indices for trade patterns show an increasing similarity …
Persistent link: https://www.econbiz.de/10005755194
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International R&D Spillovers in Transition Countries: The Impact of Trade and Foreign Direct Investment
Krammer, Marius Sorin - Institut für Weltwirtschaft (IfW) - 2008
been only a few analyses looking at this question empirically. The present study focuses on a panel of 27 transition and 20 … Western European countries between 1990 and 2006 and uses the latest developments in panel unit root and cointegration testing … to disentangle the effects of international spillovers via trade and FDI. My findings show that imports remain the main …
Persistent link: https://www.econbiz.de/10005755110
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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
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Macroeconomic Shocks and Foreign Bank Assets
Buch, Claudia M.; Carstensen, Kai; Schertler, Andrea - Institut für Weltwirtschaft (IfW) - 2005
implications of this model using dynamic panel models for changes in foreign bank assets. We find evidence that nominal interest …
Persistent link: https://www.econbiz.de/10010886927
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Exchange rate pass-through and inflation dynamics in Tunisia: A Markov-Switching approach
Khemiri, Rim; Ali, Mohamed Sami Ben - Institut für Weltwirtschaft (IfW) - 2012
This paper studies the effect of exchange rate pass-through on inflation in Tunisia over the period 2001-2009. The authors' objective is to track inflation regimes for the Tunisian economy and to forecast its determinants. Using a Markov-switching approach, the authors identified two main...
Persistent link: https://www.econbiz.de/10010956150
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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
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Deutschmark appreciation and structural change: An overview of economic structural reports
Schmidt, Klaus-Dieter - Institut für Weltwirtschaft (IfW) - 1997
Changes in exchange rates have become a prominent issue in Germany and Japan - due to the enormous appreciation of the Deutschmark and the Yen. Conventional wisdom suggests that economic activity will be negatively affected if a currency is going through a phase of appreciation. The paper...
Persistent link: https://www.econbiz.de/10009276229
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Monetary Ease: A Factor behind Financial Crises? Some Evidence from OECD Countries
Ahrend, Rudiger - Institut für Weltwirtschaft (IfW) - 2008
This paper addresses the question of whether and how easy monetary policy may lead to excesses in financial and real asset markets and ultimately result in financial dislocation. It presents evidence suggesting that periods when short-term interest rates have been persistently and significantly...
Persistent link: https://www.econbiz.de/10005059044
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An Iron Law of Currency Crises: The Divergence of the Nominal and the Real Exchange Rate and Increasing Current Account Deficits
Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2002
The currency crises of the 1990s all exhibit a divergence of the nominal and the real exchange rate together with an increase in the negative current account. The nominal rate does not reflect inflation differences fully and the ensuing real appreciation leads to a negative current account. This...
Persistent link: https://www.econbiz.de/10005700507