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The New International Architecture
Dornbusch, Rudi - CESifo - 2002
In 1998 Rüdiger Dornbusch gave the Munich Lectures in Economics entitled “International Financial Crises”. The CES Academic Council awarded him the prize and title “Distinguished CES Fellow” for his outstanding work on the monetary theory of foreign trade.Rüdiger Dornbusch passed away...
Persistent link: https://www.econbiz.de/10005051529
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IMF Surveillance and Financial Markets - A Political Economy Analysis
Fratzscher, Marcel; Reynaud, Julien - CESifo - 2010
The International Monetary Fund (IMF) is in the process of re-inventing itself with bilateral and multilateral … surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power … that member countries exert at the IMF. First, we analyze the content of Article IV Public Information Notices (PIN), and …
Persistent link: https://www.econbiz.de/10008583679
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It's a Big World After All
Brakman, Steven; van Marrewijk, Charles - 2021
Thomas Friedman's book the world is flat has been a bestseller since it appeared in 2005. The remarkable success of the book reflects to a certain extent the present fears with respect to increasing globalization. Using many examples, Friedman argues that distance (however defined) is no longer...
Persistent link: https://www.econbiz.de/10013317106
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Optimal Fiscal Action in an Economy with Sovereign Premia and Without Monetary Independence : An Application to Italy
Philippopoulos, Apostolis - 2013
stabilization and/or debt consolidation …
Persistent link: https://www.econbiz.de/10013082637
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Public Debt, Economic Growth and Nonlinear Effects : Myth or Reality?
Égert, Balázs - 2013
This paper puts the Reinhart-Rogoff dataset to a formal econometric testing to see whether public debt has a negative … nonlinear effect on growth if public debt exceeds 90% of GDP. Using nonlinear threshold models, we show that the negative … nonlinear relationship between debt and growth is very sensitive to modelling choices. We also show that when nonlinearity is …
Persistent link: https://www.econbiz.de/10013084015
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'By a Silken Thread' : Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession
Hoffmann, Mathias - 2013
How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...
Persistent link: https://www.econbiz.de/10013087279
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Towards a Theory of Trade Finance
Schmidt-Eisenlohr, Tim - 2013
Shipping goods internationally is risky and takes time. To allocate risk and to finance the time gap between production and sale, a range of payment contracts is utilized. I study the optimal choice between these payment contracts considering one shot transactions, repeated transactions and...
Persistent link: https://www.econbiz.de/10013093523
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IMF Surveillance and Financial Markets - A Political Economy Analysis
Fratzscher, Marcel - 2014
The International Monetary Fund (IMF) is in the process of re-inventing itself with bilateral and multilateral … surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power … that member countries exert at the IMF. First, we analyze the content of Article IV Public Information Notices (PIN), and …
Persistent link: https://www.econbiz.de/10013069721
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The Micro Dynamics of Macro Announcements
Mittnik, Stefan - 2013
We examine how regularly scheduled macroeconomic announcements for the U.S., Germany and the euro area affect the German stock market, using high–frequency, minute–by–minute DAX data. Our study extends the literature on high–frequency announcement effects in several ways. First, we...
Persistent link: https://www.econbiz.de/10013074401
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What Slice of the Pie? The Corporate Bond Market Boom in Emerging Economies
Ayala, Diana - 2017
This paper studies the determinants of shifts in debt composition among emerging market non-financial corporates. We …
Persistent link: https://www.econbiz.de/10012960099