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Causes and consequences of merger waves
Kleinert, Jörn; Klodt, Henning - 2002
This paper presents some ideas about determinants of merger waves and some evidence on their effect on profitability … and employment. A brief survey of previous merger waves and an analysis of the recent one give support to the hypothesis … that sectoral shocks are at the root of merger waves. Deregulation and globalization are identified as the shocks …
Persistent link: https://www.econbiz.de/10010271917
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Cross-border mergers and acquisitions : on revealed comparative advantage and merger waves
Brakman, Steven; Garretsen, Harry; van Marrewijk, Charles - 2005
By combining two large data sets (on international trade flows and on mergers and acquisitions – M&As), we are able to test two implications of Neary's (2003, 2004a) recent theoretical work. Analyzing M&As in a General Oligopolistic Equilibrium (GOLE) model incorporating strategic interaction...
Persistent link: https://www.econbiz.de/10010275774
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Cross-border mergers & acquisitions: the facts as a guide for international economics
Brakman, Steven; Garretsen, Harry; van Marrewijk, Charles - 2006
Using a detailed and large data set on cross-border merger and acquisitions we discuss the relationship between theory …
Persistent link: https://www.econbiz.de/10010275794
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Unlocking the value of cross-border mergers and acquisitions
Brakman, Steven; Garita, Gus; Garretsen, Harry; van … - 2008
Most FDI takes place between the developed countries, which suggests that the market-seeking motive is important for understanding FDI. However, given the stylized fact that trade barriers (e.g. transportation costs and financial barriers) have declined over the past 20 years, models that aim to...
Persistent link: https://www.econbiz.de/10010275800
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Cross-Border Bank Mergers: What Lures the Rare Animal?
DeLong, Gayle L.; Buch, Claudia M. - 2001
which information costs and regulations hold back merger activity. Our results suggest that banks operating in more …
Persistent link: https://www.econbiz.de/10010260608
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Macroeconomic factors and micro-level bank risk
Buch, Claudia M.; Eickmeier, Sandra; Prieto, Esteban - 2010
The interplay between banks and the macroeconomy is of key importance for financial and economic stability. We analyze this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U.S. macroeconomy. The model includes GDP growth, inflation, the...
Persistent link: https://www.econbiz.de/10010274932
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Regionale Konjunkturunterschiede kein Hinderungsgrund für Geldpolitik im Euroraum
Artis, Michael; Dreger, Christian; Kholodilin, Konstantin A. - In: DIW Wochenbericht 76 (2009) 46, pp. 806-809
USA - prüfen. Es zeigt sich, dass die Unterschiede in der konjunkturellen Entwicklung zwischen den Regionen der Eurozone … nicht größer sind als zwischen den Bundesstaaten der USA. Somit sind die Erfolgsaussichten der Geldpolitik im Euroraum … keineswegs schlechter als in den USA. …
Persistent link: https://www.econbiz.de/10011602090
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The effects of monetary policy on unemployment dynamics under model uncertainty: evidence from the US and the Euro area
Altavilla, Carlo; Ciccarelli, Matteo - 2009
This paper explores the role that the imperfect knowledge of the structure of the economy plays in the uncertainty surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian model averaging procedure on a wide range of models...
Persistent link: https://www.econbiz.de/10010264579
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TAFTA - a dead horse or an attractive open club?
Siebert, Horst - 2005
A Transatlantic Free Trade Area (TAFTA) has been proposed in the mid-1990s to revitalize the economic and political ties between the United States and the European Union. This paper discusses the expected economic gains from such a free trade area for its members with respect to trade in goods...
Persistent link: https://www.econbiz.de/10010273144
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Asset price shocks, real expenditures, and financial structure: a multi-country analysis
Chirinko, Robert S.; de Haan, Leo; Sterken, Elmer - 2008
This paper examines the responses of private consumption, residential investment, and business investment in 11 EU countries, Japan, and the United States to shocks in housing and equity prices. The effects are assessed with a Structural Vector Auto Regressive (SVAR) model, and four key findings...
Persistent link: https://www.econbiz.de/10010274043