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How successful is the G7 in managing exchange rates?
Fratzscher, Marcel - 2008
The paper assesses the extent to which the Group of Seven (G7) has been successful in its management of major currencies since the 1970s. Using an event-study approach, the paper finds evidence that the G7 has been overall effective in moving the US dollar, yen and euro in the intended direction...
Persistent link: https://www.econbiz.de/10011604998
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"Made in China" - How does it affect our understanding of global market shares?
Benkovskis, Konstantins; Wörz, Julia - 2015
We propose a comprehensive decomposition of changes in a country’s global market shares that accounts for the value added content of trade. We perform the analysis by combining two datasets – disaggregated trade data from UN Comtrade with internationally integrated Supply and Use Tables from...
Persistent link: https://www.econbiz.de/10011605832
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A quantitative mirror on the Euribor market using implied probability density functions
de Vincent-Humphreys, Rupert; Puigvert Gutiérrez, … - 2010
financial crisis between 2007 and 2009. In doing so, it shows how option-implied probability density functions could be used to … contribute to monetary policy and financial stability analysis. …
Persistent link: https://www.econbiz.de/10011605327
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Monetary transmission in Germany: new perspectives on financial constraints and investment spending
Von Kalckreuth, Ulf - 2001
importance of the interest rate and credit channels on business fixed investment in Germany. Our unbalanced panel of financial …
Persistent link: https://www.econbiz.de/10011604155
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Finance and growth: a macroeconomic assessment of the evidence from a European angle
Papaioannou, Elias - 2007
This paper reviews the literature on the finance-growth nexus within a neoclassical growth framework, placing an … emphasis on the policy implications in the current European environment, that has placed financial reforms high on the policy … Agenda. While more research is needed to establish causality and verify the theoretical channels linking access to finance …
Persistent link: https://www.econbiz.de/10011604833
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Financial reforms and innovation: A micro-macro perspective
Boikos, Spyridon; Bournakis, Ioannis; Dimitris, … - 2021
We develop a horizontal R&D growth model that allows us to investigate the different channels through which financial …
Persistent link: https://www.econbiz.de/10012515465
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Revisiting Fiscal Sustainability : Panel Cointegration and Structural Breaks in OECD Countries
Afonso, António - 2012
We assess the sustainability of public finances in OECD countries, over the period 1970-2010, using unit root and cointegration analysis, both country and panel based, controlling for endogenous breaks. Results notably show: lack of cointegration – absence of sustainability – between...
Persistent link: https://www.econbiz.de/10013102099
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3-Step Analysis of Public Finances Sustainability : The Case of the European Union
Afonso, António; Rault, Christophe - 2021
We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF specific panel unit root test to investigate the meanreverting behaviour of general government expenditure and revenue ratios. Secondly, we apply the bootstrap panel cointegration...
Persistent link: https://www.econbiz.de/10013316526
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Public sector efficiency: evidence for new EU member states and emerging markets
Afonso, António; Schuknecht, Ludger; Tanzi, Vito - 2006
In this paper we analyse public sector efficiency in the new member states of the European Union compared to that in emerging markets. After a conceptual discussion of expenditure efficiency measurement issues, we compute efficiency scores and rankings by applying a range of measurement...
Persistent link: https://www.econbiz.de/10011604627
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Emerging Asia’s growth and integration: how autonomous are business cycles?
Rüffer, Rasmus; Sánchez, Marcelo; Shen, Jian-Guang - 2007
domestic shocks. Variance decompositions indicate that Asian emerging economies are to a large part driven by external …
Persistent link: https://www.econbiz.de/10011604761