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On the (A)symmetry of Shocks in EMU: Is it that Shocking?

Verhoef, B.A. - de Nederlandsche Bank - 2002

A disadvantage of EMU is the lack of national monetary policy to absorb country-specific shocks. The seriousness of … shocks within EMU. The aim of this paper is to analyse empirically whether shocks in EMU became more or less symmetric. The … results suggest that within EMU the symmetry of demand shocks increased during the last two decades, whilst the symmetry of …

Persistent link: https://www.econbiz.de/10005106691

The (A)Symmetry of shocks in the EMU

Verhoef, Bastiaan A. - de Nederlandsche Bank - 2003

A disadvantage of EMU is the lack of national monetary policy to absorb country-specific shocks. The seriousness of … shocks within EMU. Previous empirical research on the asymmetry of shocks mainly focused on correlation coefficients between … the shocks for some specific period. Therefore, it does not give a proper picture of the development of the symmetry of …

Persistent link: https://www.econbiz.de/10005106766

On agricultural commodities' extreme price risk

Oordt, Maarten van; Stork, Philip; Vries, Casper de - de Nederlandsche Bank - 2013

describe how fat tails in agricultural prices may occur endogenously as a result of productivity shocks. Using thirty years of …

Persistent link: https://www.econbiz.de/10010720029

The comovement between household loans and real activity

Haan, Wouter den; Sterk, Vincent - de Nederlandsche Bank - 2009

markets reduced the impact of economic shocks on real activity. …

Persistent link: https://www.econbiz.de/10005021820

Internal Capital Markets and Lending by Multinational Bank Subsidiaries

Haas, Ralph de; Lelyveld, Iman van - de Nederlandsche Bank - 2006

We use panel data on the intra-group ownership structure and balance sheets of 45 of the largest banking groups from 1992 to 2004 to analyse what determines the credit growth of multinational bank subsidiaries. Both home- and host-country conditions and characteristics of the subsidiaries...

Persistent link: https://www.econbiz.de/10005021850

Wage Inflation and the Distribution of Output Gaps in Europe: Insiders vs. Outsiders

Demertzis, M.; Hallett, A. Hughes - de Nederlandsche Bank - 2000

This paper examines whether Europe's monetary union framework of "ins" and "outs" reflects differences in market structures underpinned by relatively immobile labour. Such a situation could give rise to sufficient nominal convergence to satisfy the entry requirements to EMU, but little real...

Persistent link: https://www.econbiz.de/10005021858

Multinational Banks and the Global Financial Crisis. Weathering the Perfect Storm?

Haas, Ralph de; Lelyveld, Iman van - de Nederlandsche Bank - 2011

We use data on the 48 largest multinational banking groups to compare the lending of their 199 foreign subsidiaries during the Great Recession with lending by a benchmark group of 202 domestic banks. Contrary to earlier, more contained crises, parent banks were not a significant source of...

Persistent link: https://www.econbiz.de/10009385894

Business cycle synchronization and vertical trade integration: A case study of the Eurozone and East Asia

Saiki, Ayako; Kim, Sunghyun Henry - de Nederlandsche Bank - 2014

specialization in different industries that receive different shocks. Instead, IIT, in particular V-IIT, unambiguously increased …

Persistent link: https://www.econbiz.de/10010757278

Wage Inflation and the Distribution of Output Gaps in Europe: Insidersvs. Outsiders

Demertzis, M.; Hallett, A.J. Huges - de Nederlandsche Bank - 2001

Persistent link: https://www.econbiz.de/10004970715

Can Open Capital Markets Help Avoid Currency Crises?

Garita, Gus; Zhou, Chen - de Nederlandsche Bank - 2009

By proposing a measure for cross-market rebalancing effects, we provide new insights into the different sources of currency crises. We address three interrelated questions: (i) How can we best capture contagion; (ii) Is the contagion of currency crisis a regional or global phenomenon?; and (iii)...

Persistent link: https://www.econbiz.de/10005101790