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Global Banks and Crisis Transmission
Kalemli-Ozcan, Sebnem - 2012
between integration and synchronization depends on the type of shocks hitting the world economy, and that shocks to global …
Persistent link: https://www.econbiz.de/10012460452
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NBER International Seminar on Macroeconomics 2009
Reichlin, Lucrezia (contributor);  … - International Seminar on Macroeconomics <32, 2009, Nikosia> - 2010
Persistent link: https://www.econbiz.de/10003937515
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On the Gains to International Trade in Risky Financial Assets
Davis, Steven J. - 2000
This paper develops and implements a framework for quantifying the gains to international trade in risky financial assets. The framework can handle may agents, many assets, incomplete markets and limited participation in asset markets. It delivers closed-form analytic solutions for consumption,...
Persistent link: https://www.econbiz.de/10012470954
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Globalization of Equity Markets and the Cost of Capital
Stulz, Rene M. - 1999
prediction that globalization decreases the cost of capital, but the documented effects are lower than theory leads us to expect …
Persistent link: https://www.econbiz.de/10012471779
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Covered Interest Parity Deviations : Macrofinancial Determinants
Cerutti, Eugenio M. - 2019
For several decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely--even as a broad macroeconomic relationship applying to daily or weekly data. Not only have CIP deviations significantly increased since the GFC, but potential macrofinancial...
Persistent link: https://www.econbiz.de/10012480075
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International Macro-Finance
Pavlova, Anna - 2010
International macro-finance is a new area of open economy macroeconomics that brings portfolio choice and asset pricing considerations into models of international macroeconomics. The importance of these considerations--typically relegated to Finance and largely overlooked in traditional...
Persistent link: https://www.econbiz.de/10012462027
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Risk and Global Economic Architecture : Why Full Financial Integration May Be Undesirable
Stiglitz, Joseph E. - 2010
simplistic models arguing for financial integration typically employed in economics assume convexity; but the world is rife with …
Persistent link: https://www.econbiz.de/10012462933
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How Big are the Gains from International Financial Integration?
Hoxha, Indrit - 2009
The literature has shown that the implied welfare gains from international financial integration are very small. We revisit the existing findings and document that welfare gains can be substantial if capital goods are not perfect substitutes. We use a model of optimal savings that includes a...
Persistent link: https://www.econbiz.de/10012464013
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Crises and Sudden Stops : Evidence from International Bond and Syndicated-Loan Markets
Kaminsky, Graciela L. - 2008
The crises in Mexico, Thailand, and Russia in the 1990s spread quite rapidly to countries as far apart as South Africa and Pakistan. In the aftermath of these crises, many emerging economies lost access to international capital markets. Using data on international primary issuance, this paper...
Persistent link: https://www.econbiz.de/10012464398
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International Capital Flows, Returns and World Financial Integration
Evans, Martin D. D. - 2005
in equity and debt markets. Such developments are often attributed to the increased integration of world financial … markets. We present a model that allows us to examine how greater integration in world financial markets affects the behavior … concentrated in bonds. As integration progresses and households gain access to world equity markets, the size and volatility of …
Persistent link: https://www.econbiz.de/10012466971