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The coming US interest rate tightening cycle: Smooth sailing or stormy waters?

Arteta, Carlos Ó.; Kose, M. Ayhan; Ohnsorge, Franziska; … - 2015

The U.S. Federal Reserve (Fed) is expected to start raising policy interest rates in the near term and thus commence a tightening cycle for the first time in nearly a decade. The taper tantrum episode of May-June 2013 is a reminder that even a long anticipated change in Fed policies can trigger...

Persistent link: https://www.econbiz.de/10011440126

Emerging from the war: Gold standard mentality, current accounts and the international business cycle 1885-1939

Hoffmann, Mathias; Woitek, Ulrich - 2011

We study international business cycles and capital flows in the UK, the United States and the Emerging Periphery in the period 1885-1939. Based on the same set of parameters, our model explains current account dynamics under both the Classical Gold Standard and during the Interwar period. We...

Persistent link: https://www.econbiz.de/10010316919

The role of bank advisors in mergers and acquisitions

Allen, Linda; Jagtiani, Julapa; Peristiani, Stavros; … - 2002

This paper looks at the role of both commercial and investment banks in providing merger advisory services. In this area, unlike some areas of investment banking, commercial banks have always been allowed to compete directly with investment banks. In their dual role as lenders and advisors to...

Persistent link: https://www.econbiz.de/10010283491

Bank capital and value in the cross section

Mehran, Hamid; Thakor, Anjan - 2009

-sectionally related to bank capital. When we confront the predictions with the data on bank acquisitions, we find strong support. The …

Persistent link: https://www.econbiz.de/10010287142

Acquisitions versus entry: The evolution of concentration

Aydemir, Zava; Schmutzler, Armin - 2002

apply the framework to a Cournot model with cost synergies and a Bertrand model where acquisitions extend the product …

Persistent link: https://www.econbiz.de/10010315536

Foreign acquisition, plant survival, and employment growth

Bandick, Roger; Görg, Holger - 2009

This paper analyses the effect of foreign acquisition on survival probability and employment growth of target plant using data on Swedish manufacturing plants during the period 1993-2002. An improvement over previous studies is that we take into account firm level heterogeneity by separating the...

Persistent link: https://www.econbiz.de/10012654345

The effects of startup acquisitions on innovation and economic growth

Fons-Rosen, Christian; Roldan-Blanco, Pau; Schmitz, Tom - 2022

Innovative startups are frequently acquired by large incumbent firms. On the one hand, these acquisitions provide an … startups just to "kill" their ideas, and acquisitions can erode incumbents' own innovation incentives. Our paper aims to assess … the net effect of these forces. To do so, we build an endogenous growth model with heterogeneous firms and acquisitions …

Persistent link: https://www.econbiz.de/10014480717

A provincial view of global imbalances: Regional capital flows in China

Cudré, Samuel; Hoffmann, Mathias - 2014

We model capital flows among Chinese provinces using a theory-based variance decomposition that allows us to gauge the importance of various channels of external adjustments at the regional level: variation in intertemporal prices-domestic and international interest rates and the real exchange...

Persistent link: https://www.econbiz.de/10011282500

Insuring against private capital flows: is it worth the premium? ; What are the alternatives?

Bibow, Jörg - 2008

Following an analysis of the forces behind the global capital flows paradox" observed in the era of advancing financial globalization, this paper sets out to investigate the opportunity costs of self-insurance through precautionary reserve holdings. We reject the idea of reserves as low-cost...

Persistent link: https://www.econbiz.de/10010266434

The international monetary (non-)order and the global capital flows paradox

Bibow, Jörg - 2008

This paper sets out to investigate the forces behind the so-called "global capital flows paradox" and related "dollar glut" observed in the era of advancing financial globalization. The supposed paradox is that the developing world has increasingly come to pursue policies that result in current...

Persistent link: https://www.econbiz.de/10010266438

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