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Financial Globalization and Bank Lending : The Limits of Domestic Monetary Policy?

Cao, Jin - 2018

We empirically analyze how bank lending reacts to monetary policy in the presence of global financial flows. Employing a unique and novel dataset of the funding modes and currency composition of the full population of Norwegian banks in structurally identified regressions, we show that the...

Persistent link: https://www.econbiz.de/10012921278

International Portfolio Flows and Exchange Rate Volatility for Emerging Markets

Caporale, Guglielmo Maria - 2015

This paper investigates the effects of equity and bond portfolio inflows on exchange rate volatility, using monthly bilateral data for the US vis-a-vis eight Asian developing and emerging countries (India, Indonesia, South Korea, Pakistan, Hong Kong, Thailand, the Philippines, and Taiwan) over...

Persistent link: https://www.econbiz.de/10013009868

Cointegration of Matched Home Purchases and Rental Price Indexes -- Evidence from Singapore

Baltagi, Badi H. - 2015

This paper exploits the homogeneity feature of the Singapore private residential condominium market and constructs …

Persistent link: https://www.econbiz.de/10013011805

Effects of U.S. Inflation on Hong Kong and Singapore

Cheung, Yin-Wong; Yuen, Jude - 2021

this paper, we examine how inflation rates in two small open economies, namely Hong Kong and Singapore, interact with those … model is used to study the inflation dynamics. It is found that Hong Kong and Singapore inflation rates, but not the U ….S. one, respond to the error correction term. Compared with Singapore, the Hong Kong inflation rate is more responsive to U …

Persistent link: https://www.econbiz.de/10013320545

The Role of Mobility in Tax and Subsidy Competition

Haupt, Alexander - 2009

In this paper, we analyse the role of mobility in tax and subsidy competition. Our primary result is that increasing 'relocation' mobility of firms leads to increasing 'net' tax revenues under fairly weak conditions. While enhanced relocation mobility intensifies tax competition, it weakens...

Persistent link: https://www.econbiz.de/10012764805

Capital Flows in the Euro Area and TARGET2 Balances

Hristov, Nikolay - 2018

We estimate a panel VAR model for the euro area to quantitatively asses the contribution of the TARGET2 system to the propagation of different types of structural economic shocks as well as to the historical evolution of aggregate economic activity in euro area member countries. Our results...

Persistent link: https://www.econbiz.de/10012922834

Tax Competition Among U.S. States : Racing to the Bottom or Riding on a Seesaw?

Chirinko, Robert S. - 2017

Dramatic declines in capital tax rates among U.S. states and European countries have been linked by many commentators to tax competition, an inevitable “race to the bottom,” and underprovision of local public goods. This paper analyzes the reaction of capital tax policy in a given U.S. state...

Persistent link: https://www.econbiz.de/10012975853

International Tax Competition and the Deficit Bias

Arcalean, Calin - 2015

I analyze the dynamic effects of tax competition on public budget deficits. I find that stronger tax competition leads to a fiscal deficit bias at the early stages of financial liberalization. When countries differ in terms of capital mobility, further liberalization leads to external imbalances...

Persistent link: https://www.econbiz.de/10013009846

Beyond Balassa and Samuelson : Real Convergence, Capital Flows, and Competitiveness in Greece

Belke, Ansgar Hubertus - 2015

We scrutinize the role of capital flows for competitiveness in seven euro-area countries in the context of real convergence and crisis with a specific focus on Greece. The paper extends the seminal Balassa-Samuelson model to include international capital markets. Capital flows are assumed to be...

Persistent link: https://www.econbiz.de/10013012270

Global Cycles : Capital Flows, Commodities, and Sovereign Defaults, 1815-2015

Reinhart, Carmen - 2016

Capital flow and commodity cycles have long been connected with economic crises. Sparse historical data, however, has made it difficult to connect their timing. We date turning points in global capital flows and commodity prices across two centuries and provide estimates from alternative data...

Persistent link: https://www.econbiz.de/10012997239

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