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Greece's three-act tragedy : a simple model of Grexit vs. staying afloat inside the single currency area
Chen, Yu-Fu; Funke, Michael - 2015
Against the backdrop of the Greek three-act tragedy, we present a theoretical framework for studying Greece’s recent … debt and currency crisis. The model is built on two essential blocks: first, erratic macroeconomic policymaking in Greece … macroeconomic policies in Greece are considered. The model's mechanism and assumptions allow either for a Grexit from the euro area …
Persistent link: https://www.econbiz.de/10011406792
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Vignette equivalence and response consistency : the case of job satisfaction
Ferrer-i-Carbonell, Ada; Praag, Bernard M. S. van; … - 2011
We compare reported job satisfaction with vignette evaluations of hypothetical jobs by using a British, Greek and Dutch data set, containing 95 randomly assigned vignettes. In order to test comparability of international data sets recently the method of anchoring vignettes has been introduced by...
Persistent link: https://www.econbiz.de/10009383456
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Speculative attacks : a laboratory study in continuous time
Cheung, Yin-Wong (contributor); Friedman, Daniel (contributor) - 2008
We examine speculative attacks in a controlled laboratory environment featuring continuous time, size asymmetries, and varying amounts of public information. Attacks succeeded in 233 of 344 possible cases. When speculators have symmetric size and access to information: (a) weaker fundamentals...
Persistent link: https://www.econbiz.de/10003763942
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Findings of the signal approach for financial monitoring in Kazakhstan
Abberger, Klaus; Nierhaus, Wolfgang; Shaikh, Shynar - 2009
This study concentrates on the signal approach for Kazakhstan. It focuses on the properties of individual indicators prior to observed currency crises. The indicators are used to build composite indicators. An advanced approach uses principal components analysis for the construction of composite...
Persistent link: https://www.econbiz.de/10003883094
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Banking and debt crisis in Europe : the dangerous liaisons?
Candelon, Bertrand; Palm, Franz C. - 2010
. Nevertheless, the serious threats, which concern Greece and Ireland, do not permit us to exclude the occurrence of a contagious, or …
Persistent link: https://www.econbiz.de/10003951604
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Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union
Schnabl, Gunther; Zemanek, Holger - 2010
account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public …
Persistent link: https://www.econbiz.de/10008798227
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Scylla and Charybdis : explaining Europe's exit from gold, January 1928 - December 1936
Wolf, Nikolaus (contributor) - 2008
Persistent link: https://www.econbiz.de/10003674389
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Debt financing and sharp currency depreciations : wholly vs. partially owned multinational affiliates
Hebous, Shafik; Weichenrieder, Alfons J. - 2009
This paper provides empirical evidence on two potential costs of shared ownership of German affiliates abroad. First, in periods of currency crises, wholly-owned affiliates, in contrast to partially-owned affiliates, seem to circumvent financial constraints by accessing capital from their parent...
Persistent link: https://www.econbiz.de/10003923516
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Bubbles and crashes in a behavioural finance model
De Grauwe, Paul; Grimaldi, Marianna - 2004
We develop a simple model of the exchange rate in which agents optimize their portfolio and use different forecasting rules. They check the profitability of these rules ex post and select the more profitable one. This model produces two kinds of equilibria, a fundamental and a bubble one. In a...
Persistent link: https://www.econbiz.de/10011401333
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International Financial Crises
Dornbusch, Rudiger; Fischer, Stanley - 2003
Our friend and colleague Rüdiger Dornbusch passed away before he was able tocomplete his book based on the Munich Lectures in Economics that he gave inNovember 17, 1998, at the Center for Economic Studies of Ludwig-Maximilians-Universität.The lectures contain a fascinating overview of the...
Persistent link: https://www.econbiz.de/10011507825