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For a sample of 83 financial institutions during 2003–2011, this paper attempts to answer three questions: first, what is the evolution of banks’ stock price exposure to country-level and global risk factors as approximated by equity indices; second, which bank-specific characteristics...
Persistent link: https://www.econbiz.de/10011242342
effectiveness may moderate in graying societies. It then uses Bayesian estimation techniques for the U.S., Canada, Japan, U.K., and … Germany to confirm a weakening of monetary policy effectiveness over time with regards to unemployment and inflation. After …
Persistent link: https://www.econbiz.de/10011242214
Persistent link: https://www.econbiz.de/10005605539
financial markets and spillovers from Europe to Japan. The results also suggest that the uncertainty about the direction of …
Persistent link: https://www.econbiz.de/10011242378
This paper examines the role of Japan against that of China in the exchange rate regime in East Asia in light of … generate higher average welfare gains for East Asian countries than currency unions with Japan or the United States. Overall …, Japan does not appear to be a dominant player in forming a currency union in East Asia, and this trend is likely to continue …
Persistent link: https://www.econbiz.de/10005826046
Global investment patterns mean that effective taxation of foreign investors is of increasing importance to the economies of lower income countries. It is thus of considerable concern that the historical framework for cross-border income tax arrangements is not always well suited to allow...
Persistent link: https://www.econbiz.de/10011242225
The notable rebound of U.S. manufacturing activity following the Great Recession has raised the question of whether the sector might be experiencing a renaissance. Using panel regressions, we find that a depreciating real exchange rate, an increasing spread in natural gas prices between the...
Persistent link: https://www.econbiz.de/10010790239
core. This paper puts recent demand patterns in France, Germany, and Belgium into historical perspective. We find that …
Persistent link: https://www.econbiz.de/10010959463
The GPM project is designed to improve the toolkit for studying both own-country and cross-country linkages. This paper creates a special version of GPM that includes the four largest Euro Area (EA) countries. The EA countries are more vulnerable to domestic and external demand shocks because...
Persistent link: https://www.econbiz.de/10011242224
Persistent link: https://www.econbiz.de/10005264266