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Exchange Rate Regimes and Volatility: Comparison of the Snake and Visegrad

Valachy, Juraj; Evžen Ko?enda - William Davidson Institute, University of Michigan - 2003

Exchange rate stability was defined as one of the prerequisites for monetary integration in Europe. In this paper, we …

Persistent link: https://www.econbiz.de/10005207889

Falling Walls and Lifting Curtains: Analysis of Border Effects in Transition Countries

Kandogan, Yener - William Davidson Institute, University of Michigan - 2006

Since McCallum’s (1995) finding of surprisingly high border effect on trade between US and Canada, there have been a number of studies on other parts of the world, and improvements made to the gravity model to accurately measure this effect. This paper suggests some other modifications to the...

Persistent link: https://www.econbiz.de/10005677536

DEMOCRACY’S SPREAD: Elections and Sovereign Debt in Developing Countries

Kandogan, Yener - William Davidson Institute, University of Michigan - 2003

deepening of European integration, by applying methods that use Shapley-Shubik and Banzhaf indices. Significant decrease in … voting power of small countries makes widening of integration more acceptable to incumbent members due to small size of the … for further deepening of the integration. Lastly, the fairness analysis reveals a more federalist face for the EU in the …

Persistent link: https://www.econbiz.de/10005784619

Default Predictors in Retail Credit Scoring: Evidence from Czech Banking Data

Kocenda, Evzen; Vojtek, Martin - William Davidson Institute, University of Michigan - 2011

Credit to the private sector has risen rapidly in European emerging markets but its risk evaluation has been largely neglected. Using retail-loan banking data from the Czech Republic we construct two credit risk models based on logistic regression and Classification and Regression Trees. Both...

Persistent link: https://www.econbiz.de/10010545908

Real and Monetary Convergence within the European Union and Between the European Union and Candidate Countries: A Rolling Cointegration Approach

Brada, Josef C.; Kutan, Ali M.; Zhou, Su - William Davidson Institute, University of Michigan - 2002

We use rolling cointegration to measure the convergence of base money, M2, the consumer price index and industrial output between two reference countries, Germany and France, and recent EU members and some transition economy candidates. Counties that recently joined the EU exhibit time-varying...

Persistent link: https://www.econbiz.de/10005489862

Catching-up and inflation in Europe: Balassa-Samuelson, Engel’s Law and other Culprits

Egert, Balazs - William Davidson Institute, University of Michigan - 2010

This study analyses the impact of economic catching-up on annual inflation rates in the European Union with a special focus on the new member countries of Central and Eastern Europe. Using an array of estimation methods, we show that the Balassa-Samuelson effect is not an important driver of...

Persistent link: https://www.econbiz.de/10008606472

Incomplete Specialization and Trade in Parts and Components

Frensch, Richard; Hanousek, Jan; Kočenda, Evžen - William Davidson Institute, University of Michigan - 2013

Within a higher-dimensional incomplete specialization Heckscher-Ohlin framework, we first develop a gravity model that views bilateral gravity equations as statistical relationships constrained on countries’ multilateral specialization patterns. Second, we test our model empirically by using a...

Persistent link: https://www.econbiz.de/10011161370

Specialization, gravity, and European trade in final goods

Frensch, Richard; Hanousek, Jan; Kocenda, Evzen - William Davidson Institute, University of Michigan - 2013

By combining and extending the previous literature, we develop and test a gravity specification that views bilateral gravity equations rooted in a Heckscher-Ohlin framework as statistical relationships constrained on countries’ multilateral specialization patterns. According to our results,...

Persistent link: https://www.econbiz.de/10011161373

The Distribution Dynamics of Income in Central and Eastern Europe relative to the EU: A Nonparametric Analysis

Nenovsky, Nikolay; Tochkov, Kiril - William Davidson Institute, University of Michigan - 2013

After more than two decades of transition and integration, countries in Central and Eastern Europe (CEE) still exhibit …

Persistent link: https://www.econbiz.de/10011161393

Ever Closer Union or Babylonian Discord?

Fidrmuc, Jan; Ginsburgh, Victor; Weber, Schlomo - William Davidson Institute, University of Michigan - 2007

Extensive multilingualism is one of the most important and fundamental principles of the European Union. However, a large number of official languages (currently 23) hinders communication and imposes substantial financial and legal costs. We address the merits of multilingualism and formulate an...

Persistent link: https://www.econbiz.de/10005784781

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