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The international transmission of monetary policy

Buch, Claudia M.; Bussière, Matthieu; Goldberg, Linda S.; … - 2018

This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...

Persistent link: https://www.econbiz.de/10011877813

Trade and uncertainty

Novy, Dennis; Taylor, Alan M. - 2014

We offer a new explanation as to why international trade is so volatile in response to economic shocks. Our approach combines the uncertainty shock idea of Bloom (2009) with a model of international trade, extending the idea to the open economy. Firms import intermediate inputs from home or...

Persistent link: https://www.econbiz.de/10010358978

Low skill but high volatility?

Buch, Claudia M.; Pierdzioch, Christian - 2009

Globalization may impose a double-burden on low-skilled workers. On the one hand, the relative supply of low … test the predictions of the model. Our results show that greater financial globalization and development increases the … dampening impact. -- labor-market volatility ; skill levels ; financial globalization …

Persistent link: https://www.econbiz.de/10003850520

The tradeoff between redistribution and effort : evidence from the field and from the lab

Buch, Claudia M.; Engel, Christoph - 2012

simultaneously determined. Using cross-country panel data from the World Value Survey, we find that it is important to model … becomes more difficult for everybody. -- effort ; redistribution ; World Value Survey ; simultaneous equation models …

Persistent link: https://www.econbiz.de/10009535110

The real exchange rate in the long run : Balassa-Samuelson effects reconsidered

Bordo, Michael D.; Choudhri, Ehsan U.; Fazio, Giorgio; … - 2014

Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample period. Although the traditional Balassa-Samuelson...

Persistent link: https://www.econbiz.de/10010374513

Granularity in banking and growth : does financial openness matter?

Bremus, Franziska; Buch, Claudia M. - 2013

We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of granular effects: if markets are very concentrated in terms of the size distribution of banks, idiosyncratic shocks at the bank-level do not cancel out in the aggregate but can...

Persistent link: https://www.econbiz.de/10009786228