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Limits of monetary policy autonomy by East Asian debtor central banks

Löffler, Axel; Schnabl, Gunther; Schobert, Franziska - 2012

Due to buoyant capital inflows East Asian central banks with exchange rate targets accumulate foreign reserves and thereby increase surplus liquidity. East Asian central banks with more flexible exchange rate regimes also face surplus liquidity that mainly emanates from past accumulation of...

Persistent link: https://www.econbiz.de/10010280973

Hoarding of International Reserves : Mrs Machlup's Wardrobe and the Joneses

Cheung, Yin-Wong; Qian, Xingwang - 2021

Motivated by the observed international reserve hoarding behavior in the post-1997 crisis period, we explore the Mrs Machlup's wardrobe hypothesis and the related keeping-up-with-the-Joneses argument. It is conceived that, in addition to psychological reasons, holding a relatively high level of...

Persistent link: https://www.econbiz.de/10013316903

Regulating national firms in a common market

Biancini, Sara - 2008

We consider the regulation of national firms in a common market. Regulators can influence the production of national …

Persistent link: https://www.econbiz.de/10010264297

The demands for environmental regulation and for trade in the presence of private mitigation

Hotte, Louis; Winer, Stanley L. - 2008

We study the nature of individual demands for environmental regulation and for trade openness in the general … respect to the stringency of regulation. Moreover, even though trade has the potential to benefit everyone, the poor may … oppose trade openness because of a concern that laxer environmental regulation will then be imposed in the interest of the …

Persistent link: https://www.econbiz.de/10010264525

The political economy of regulatory risk

Strausz, Roland - 2010

This paper investigates political uncertainty as a source of regulatory risk. It shows that political parties have incentives to reduce regulatory risk actively: Mutually beneficial pre-electoral agreements that reduce regulatory risk always exist. Agreements that fully eliminate it exist when...

Persistent link: https://www.econbiz.de/10010266082

Corruption and the shadow economy : an empirical analysis

Dreher, Axel; Schneider, Friedrich G. - 2006

This paper analyzes the influence of the shadow economy on corruption and vice versa. We hypothesize that corruption and shadow economy are substitutes in high income countries while they are complements in low income countries. The hypotheses are tested for a cross-section of 120 countries and...

Persistent link: https://www.econbiz.de/10010276563

MIMIC models, cointegration and error correction: an application to the French shadow economy

Bühn, Andreas; Schneider, Friedrich G. - 2008

The analysis of economic loss attributed to the shadow economy has attracted much attention in recent years by both academics and policy makers. Often, multiple indicators multiple causes (MIMIC) models are applied to time series data estimating the size and development of the shadow economy for...

Persistent link: https://www.econbiz.de/10010276604

Hurricane insurance in Florida

Jametti, Mario; von Ungern-Sternberg, Thomas - 2009

This paper studies the evolution of hurricane insurance in Florida over the last decades. Hurricanes (and other natural catastrophes) are typically referred to as uninsurable" risks. The more exposed property owners find it difficult to obtain insurance cover from the private market and/or can...

Persistent link: https://www.econbiz.de/10010276899

Competition between content distributors in two-sided markets

Nygard Bergh, Harald; Kind, Hans Jarle; Reme, Bjørn-Atle; … - 2012

. Second, a TV channel might find it optimal to commit to not raising advertising revenue. Third, regulation of the advertising …

Persistent link: https://www.econbiz.de/10010283590

Powering up developing countries through integration?

Auriol, Emmanuelle; Biancini, Sara - 2012

Power market integration is analyzed in a two countries model with nationally regulated firms and costly public funds. If generation costs between the two countries are too similar negative business-stealing outweighs efficiency gains so that following integration welfare decreases in both...

Persistent link: https://www.econbiz.de/10010283608

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