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Finance for Growth: Does a Balanced Financial Structure Matter?

Cuadro-Sáez, Lucía; García-Herrero, Alicia - Institut für Weltwirtschaft (IfW) - 2007

In this paper we explore empirically a long-standing question in the literature on finance for growth. namely whether the financial structure -in terms of the size of the banking system relative to the capital markets- matters for economic growth. We build upon the existing literature by...

Persistent link: https://www.econbiz.de/10005700493

Trade Effects of Monetary Integration in Large, Mature Economies: A Primer on the European Monetary Union

Souza, Lúcio Vinhas de - Institut für Weltwirtschaft (IfW) - 2002

of the euro area. With a 1980-2001 sample, no consistent significant trade effects from the 1999 creation of EMU are … found, using dummies for the 1999-2001 period. Treating EMU not as a single event but as a part of a long-term integration …

Persistent link: https://www.econbiz.de/10005818856

Sources of Euro Real Exchange Rate Fluctuations: What Is Behind the Euro Weakness in 1999-2000?

Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - Institut für Weltwirtschaft (IfW) - 2001

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

Persistent link: https://www.econbiz.de/10005700511

Changes in the Response of Fiscal Policy to Monetary Policy in the EMU

Arora, Sanchit; Reicher, Claire - Institut für Weltwirtschaft (IfW) - 2014

We study the evolution of the response of scal policy to monetary policy shocks in the EMU in the light of two … important events: the signing of the Maastricht treaty in 1992 and the introduction of the EMU in 1999. Based on impulse … as complements after the introduction of the EMU. These results holds for a set of 11 non-EMU countries as well, which …

Persistent link: https://www.econbiz.de/10011093913

Die Bedeutung monetärer Größen für die deutsche Wachstumsschwäche 1995-2005

Dovern, Jonas; Jannsen, Nils; Scheide, Joachim - Institut für Weltwirtschaft (IfW) - 2009

Between 1995 and 2005, the German economy has experienced a phase of weak economic growth. We analyze whether this weak growth performance can be attributed to the stance of monetary conditions during that period. We show that the real effective exchange rate did have almost no dampening effects...

Persistent link: https://www.econbiz.de/10005566192

Organic Certification, Agro-Ecological Practices and Return on Investment: Farm Level Evidence from Ghana

Kleemann, Linda; Abdulai, Awudu - Institut für Weltwirtschaft (IfW) - 2012

The recent empirical literature on economic sustainability of certified export crops shows that certification standards that enhance yields are important for improving farm revenues and farmer welfare. However, limited evidence exists on the impact of organic certification on the adoption of...

Persistent link: https://www.econbiz.de/10010886859

Is Organic Farming Worth its Investment? The Adoption and Impact of Certified Pineapple Farming in Ghana

Kleemann, Linda; Abdulai, Awudu; Buss, Mareike - Institut für Weltwirtschaft (IfW) - 2013

Global food markets demand the adoption of food standards by small-scale farmers in developing countries when they enter international markets. While a conventional certification with GlobalGAP can be a market entry condition for conventional food, especially for horticultural products, organic...

Persistent link: https://www.econbiz.de/10010886961

Debt and Interest Rates: The U.S. and the Euro Area

Frankel, Jeffrey; Chinn, Menzie D. - Institut für Weltwirtschaft (IfW) - 2007

We find that real interest rates paid on government debt depend significantly upon current and expected future levels of debt, in Europe as in the US. But this result only emerges when we condition on foreign interest rates, illustrating financial international integration. The previously strong...

Persistent link: https://www.econbiz.de/10005083400

The relationship between oil prices and long-term interest rates

Reicher, Christopher; Utlaut, Johannes - Institut für Weltwirtschaft (IfW) - 2010

We estimate a seven-variable-VAR for the U.S. economy on postwar data using long-run restrictions, taking changes in long-run interest rates and inflation expectations into account. We find a strong connection between oil prices and long-run nominal interest rates which has lasted throughout the...

Persistent link: https://www.econbiz.de/10008511731

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