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Europe Agreements and Trade Balance : Evidence from Four New EU Members

Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - 2021

This paper analyses the trade balance effects of Europe agreements (EA) between the EU-15 and four new EU members from …

Persistent link: https://www.econbiz.de/10013316072

EU Banks Rating Assignments : Is there Heterogeneity between New and Old Member Countries?

Caporale, Guglielmo Maria - 2013

We model EU countries' bank ratings using financial variables and allowing for intercept and slope heterogeneity. Our … aim is to assess whether “old” and “new” EU countries are rated differently and to determine whether “new” ones are … intercepts) are a crucial determinant of ratings. Whilst “new” EU countries typically have lower ratings than “old” ones, after …

Persistent link: https://www.econbiz.de/10013094667

Are the Baltic Countries Ready to Adopt the Euro? A Generalised Purchasing Power Parity Approach

Caporale, Guglielmo Maria; Ciferri, Davide; Girardi, … - 2021

This paper focuses on macroeconomic interdependencies between the Euro area and three transition economies (Estonia, Lithuania and Latvia), with the aim of establishing whether the latter are ready to adopt the Euro. The theoretical framework is based on the Generalised Purchasing Power Parity...

Persistent link: https://www.econbiz.de/10013316490

International financial stability and the regulation of capital flows

Artis, Michael J. - In: The international financial regime, (pp. 163-196). 1990

Persistent link: https://www.econbiz.de/10001281960

The European Monetary System : a review of the research record

Artis, Michael J. - In: The international financial regime, (pp. 145-162). 1990

Persistent link: https://www.econbiz.de/10001281961

Financial Frictions and Inflation Differentials in a Monetary Union

Hristov, Nikolay - 2010

This paper employs a stylized New Keynesian DSGE model for a monetary union to analyze whether cyclical inflation differentials can be explained by cross-country differences concerning the characteristics of financial markets. Our results suggest that empirically plausible degrees of...

Persistent link: https://www.econbiz.de/10013136243

Trade Intensity and Output Synchronisation : On the Endogeneity Properties of EMU

Caporale, Guglielmo Maria - 2013

Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results...

Persistent link: https://www.econbiz.de/10013083873

Target Balances and the German Financial Account in Light of the European Balance-of-Payments Crisis

Sinn, Hans-Werner - 2013

As shown in Sinn and Wollmershäuser (2012a), during the European balance-of-payments crisis, inter-governmental credit and Target credit granted by core-country central banks have replaced private international capital flows in financing the crisis countries' current account deficits, and even...

Persistent link: https://www.econbiz.de/10013088462

The Interest Rate Pass-Through in the Euro Area During the Global Financial Crisis

Hristov, Nikolay - 2013

This paper uses panel vector autoregressive models and simulations of an estimated DSGE model to explore the reaction of Euro–area banks to the global financial crisis. We focus on their interest–rate setting behavior in response to standard macroeconomic shocks. Our main empirical finding...

Persistent link: https://www.econbiz.de/10013089850

Price Discovery and Trade Fragmentation in a Multi - Market Environment : Evidence from the MTS System

Caporale, Guglielmo Maria - 2013

This paper proposes new metrics for the process of price discovery on the main electronic trading platform for euro - denominated government securities. Analyzing price data on daily transactions for 107 bonds over a period of twenty - seven months, we find a greater degree of price leadership...

Persistent link: https://www.econbiz.de/10013092631