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Current Account Reversals in Industrial Countries : Does the Exchange Rate Regime Matter?
Pancaro, Cosimo - 2013
This paper studies current account reversals in industrial countries across different exchange rate regimes. There are two major findings which have important implications for industrial economies with external imbalances: first, triggers of current account reversals differ between exchange rate...
Persistent link: https://www.econbiz.de/10013082531
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On the Credit and Exchange Rate Channels of Central Bank Asset Purchases in a Monetary Union
Darracq Paries, Matthieu - 2019
Through the euro area crisis, financial fragmentation across jurisdictions became a prime concern for the single monetary policy. The ECB broadened the scope of its instruments and enacted a series of non-standard measures to engineer an appropriate degree of policy accommodation. The...
Persistent link: https://www.econbiz.de/10012889467
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Capital Flows, Push versus Pull Factors and the Global Financial Crisis
Fratzscher, Marcel - 2013
The causes of the 2008 collapse and subsequent surge in global capital flows remain an open and highly controversial issue. Employing a factor model coupled with a dataset of high-frequency portfolio capital flows to 50 economies, the paper finds that common shocks – key crisis events as well...
Persistent link: https://www.econbiz.de/10013092662
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Sudden Stop of Capital Flows and the Consequences for the Banking Sector and the Real Economy
Neagu, Florian - 2013
The paper develops a macro-prudential liquidity stress-testing tool in order to capture the possible consequences of a capital outflow (including a run of deposits). The tool includes a feedback from the banking sector to the real economy, incorporates a link between liquidity risk and solvency...
Persistent link: https://www.econbiz.de/10013075929
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The Global Capital Flows Cycle : Structural Drivers and Transmission Channels
Habib, Maurizio Michael - 2019
In this paper, we study the effects of structural shocks that influence global risk – the main factor behind a “global capital flows cycle” – and how risk, in turn, is transmitted to capital flows. Our results show that not all the risk shocks driving the global financial cycle have the...
Persistent link: https://www.econbiz.de/10012870421
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Domestic and Multilateral Effects of Capital Controls in Emerging Markets
Pasricha, Gurnain Kaur - 2015
-border bank lending). Spillovers seem to be more prevalent in Latin America than in Asia, reflecting the greater role of cross …
Persistent link: https://www.econbiz.de/10013016947
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Has Emerging Asia Decoupled? An Analysis of Production and Trade Linkages Using the Asian International Input-Output Table
Pula, Gabor - 2009
dependence of emerging Asia on external demand. This paper analyses, using an update of the Asian International Input-Output (AIO … linkages. According to the results, we do not find evidence of the decoupling of emerging Asia from the rest of the world. On … indicates that emerging Asia's dependence on exports is only about one-third of its GDP, i.e. well below the 50% exposure …
Persistent link: https://www.econbiz.de/10012765710
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Exports and Sectoral Financial Dependence : Evidence on French Firms During the Great Global Crisis
Bricongne, Jean-Charles - 2010
The unprecedented drop in international trade during the last quarter of 2008 and the first quarter of 2009 has mainly been analysed at the macroeconomic or sectoral level. However, exporters who are heterogeneous in terms of productivity, size or external financial dependence should be...
Persistent link: https://www.econbiz.de/10013141112
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The International Dimension of an Incomplete Emu
Ioannou, Demosthenes - 2020
This paper quantifies the economic influence that shocks to EMU cohesion, which in turn reflect the incomplete nature of the monetary union, have on the rest of the world. Disentangling euro area stress shocks and global risk aversion shocks based on a combination of sign, magnitude and...
Persistent link: https://www.econbiz.de/10012824791
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Exports and sectoral financial dependence: evidence on French firms during the great global crisis
Bricongne, Jean-Charles; Fontagné, Lionel; Gaulier, … - 2010
The unprecedented drop in international trade during the last quarter of 2008 and the first quarter of 2009 has mainly been analysed at the macroeconomic or sectoral level. However, exporters who are heterogeneous in terms of productivity, size or external financial dependence should be...
Persistent link: https://www.econbiz.de/10011605273