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Monetary policy and global banking
Bräuning, Falk; Ivashina, Victoria - 2017 - This version: December 23, 2016
Global banks use their global balance sheets to respond to local monetary policy. However, sources and uses of funds are often denominated in different currencies. This leads to a foreign exchange (FX) exposure that banks need to hedge. If cross-currency flows are large, the hedging cost...
Persistent link: https://www.econbiz.de/10011687276
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Read my lips : the role of information transmission in multilateral reform design
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
We focus on the role that the transmission of information between a multilateral (e.g., the IMF) and a country has for optimal (conditional) reform design. The main result is that the informational advantage of the country must be strictly greater than the advantage of the multilateral in order...
Persistent link: https://www.econbiz.de/10003850746
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State dependence in the finance-growth nexus : a functional coefficient approach
Herwartz, Helmut; Yabibal Mulualem Walle - 2013
Noting that "one size does not fit all" in the case of the finance-growth (FG) nexus, a growing body of literature has recently focused on uncovering economic conditions under which financial development could be beneficial (detrimental) to economic development. We look into these conditions by...
Persistent link: https://www.econbiz.de/10009752169
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International financial integration, crises, and monetary policy : evidence from the Euro area interbank crises international financial integration, crises, and monetary policy : e...
Abbassi, Puriya; Bräuning, Falk; Fecht, Falko; … - 2017 - This version: July, 2017
We analyze how financial crises affect international financial integration, exploiting euro area proprietary interbank data, crisis and monetary policy shocks, and variation in loan terms to the same borrower on the same day by domestic versus foreign lenders. Crisis shocks reduce the supply of...
Persistent link: https://www.econbiz.de/10011704823
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The pricing of FX forward contracts : micro evidence from banks' dollar hedging
Abbassi, Puriya; Bräuning, Falk - 2018 - This version: March 2018
We use transaction-level data on foreign exchange (FX) forward contracts for the period 2014 through 2016 in conjunction with supervisory balance sheet information to study the drivers of banks' dollar hedging costs. Comparing contracts of the same maturity that are initiated during the same...
Persistent link: https://www.econbiz.de/10011911789
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On the relation between income inequality and happiness : do fairness perceptions matter?
Bjørnskov, Christian; Dreher, Axel; Fischer, Justina A. V. - 2009
the World Values Survey data and a broad set of fairness measures, we find strong support for the negative (positive …
Persistent link: https://www.econbiz.de/10003944651
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Are "new" donors different? : comparing the allocation of bilateral aid between non-DAC and DAC donor
Dreher, Axel; Nunnenkamp, Peter; Thiele, Rainer - 2010
Major DAC donors are widely criticized for weak targeting of aid, selfish aid motives and insufficient coordination. The emergence of an increasing number of new donors may further complicate the coordination of international aid efforts. On the other hand, new donors (many of which were aid...
Persistent link: https://www.econbiz.de/10003944716
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The costs of favoritism : is politically-driven aid less effective?
Dreher, Axel; Klasen, Stephan; Vreeland, James Raymond; … - 2010
World Bank projects and generally find that projects that are potentially politically motivated - such as those granted to … governments holding a non-permanent seat on the United Nations Security Council or an Executive Directorship at the World Bank … Council members with higher short-term debt, however, a negative quality rating is more likely. So we find evidence that World …
Persistent link: https://www.econbiz.de/10003944718
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Globalization, economic freedom and human rights
Dreher, Axel; Gassebner, Martin; Siemers, Lars - 2010
Using the KOF Index of Globalization and two indices of economic freedom, we empirically analyze whether globalization and economic liberalization affect governments ́respect for human rights using a panel of 106 countries over the 1981-2004 period. According to our results, physical integrity...
Persistent link: https://www.econbiz.de/10008667610
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Does membership on the UN security council influence IMF conditionality?
Dreher, Axel; Sturm, Jan-Egbert; Vreeland, James Raymond - 2010
We investigate whether elected members of the United Nations Security Council receive favorable treatment from the International Monetary Fund (IMF), analyzing panel data on the level of conditionality attached to (a maximum of) 314 IMF arrangements with 101 countries over the period of 1992 to...
Persistent link: https://www.econbiz.de/10003980061