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Global Models for a Global Pandemic : The Impact of COVID-19 on Small Euro Area Economies
Garcia, Pablo; Jacquinot, Pascal; Lenarčič, Črt; … - 2021
This paper analyses the effects of the COVID-19 pandemic shock on small open economies in a monetary union with an application to the euro area. Accounting for a high degree of openness and a strong dependence on intra and extra union trade, we focus on the size and the direction of...
Persistent link: https://www.econbiz.de/10013323904
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Globalisation, Domestic Inflation and Global Output Gaps : Evidence from the Euro Area
Calza, Alessandro - 2015
This paper tests whether the proposition that globalisation has led to greater sensitivity of domestic inflation to the global output gap (the quot;global output gap hypothesisquot;) holds for the euro area. The empirical analysis uses quarterly data over the period 1979-2003. Measures of the...
Persistent link: https://www.econbiz.de/10012750226
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Global Value Chains : A View from the Euro Area
Amador, Joao L.M. - 2015
added in exports, as a way to assess the pervasiveness of GVCs, it covers the period 2000-2011 and bases on the World Input …
Persistent link: https://www.econbiz.de/10013026619
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Real-Time Weakness of the Global Economy : A First Assessment of the Coronavirus Crisis
Leiva‐Leon, Danilo - 2020
provides a consistent narrative of the main regional contributors of world economy's weakness. Third, it allows to perform …
Persistent link: https://www.econbiz.de/10012838842
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Patterns in Invoicing Currency in Global Trade
Georgiadis, Georgios - 2020
This paper presents the most comprehensive and up-to-date panel data set of invoicing currencies in global trade. It provides data on the shares of exports and imports invoiced in US dollars, euros, and other currencies for more than 100 countries since 1990. The evidence from these data...
Persistent link: https://www.econbiz.de/10012825651
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America First? A US-centric View of Global Capital Flows
McQuade, Peter - 2019
with those of the rest of the world. We analyse the relative importance of US, country-specific, and global variables as …. Global and national risk indicators perform better in explaining “rest of the world” flows. Moreover, we find that the … correlation between US and rest of the world flows peaks in periods of elevated uncertainty. We interpret our findings as evidence …
Persistent link: https://www.econbiz.de/10012892830
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The Evolving Impact of Global, Region-Specific and Country-Specific Uncertainty
Mumtaz, Haroon - 2018
We build a dynamic factor model with time-varying parameters and stochastic volatility and use it to decompose the variance of a large set of financial and macroeconomic variables for 22 OECD countries spanning from 1960 onwards into contributions from country-specific uncertainty,...
Persistent link: https://www.econbiz.de/10012920180
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EME Financial Conditions : Which Global Shocks Matter?
Lodge, David - 2019
This paper provides a quantitative assessment of the relative importance of global structural shocks for changes in financial conditions across a sample of emerging market economies. We disentangle four key drivers of global financial markets (oil supply shocks, global economic news shocks,...
Persistent link: https://www.econbiz.de/10012869957
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Determinants of Global Spillovers from US Monetary Policy
Georgiadis, Georgios - 2015
policy generates sizable output spillovers to the rest of the world, which are larger than the domestic effects in the US for …
Persistent link: https://www.econbiz.de/10013014615
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Reading the Footprints : How Foreign Investors Shape Countries’ Participation in Global Value Chains
Buelens, Christian - 2017
We show that traditional gravity variables play a significant role in explaining trade flows related to global value chain participation. We find evidence that cooperation costs – measured by linguistic and geographical proximity – are more relevant for trade that reflects cross-border...
Persistent link: https://www.econbiz.de/10012956243