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International financial linkages of Latin American banks: the effects of political risk and deposit dollarisation
Ramon-Ballester, Francisco; Wezel, Torsten - 2007
This paper empirically investigates the extent to which the financial linkages of Latin American banks with the exterior are influenced by political risk and deposit dollarisation. We find that the sum of banks’ foreign assets and liabilities is a function of risk-return considerations and...
Persistent link: https://www.econbiz.de/10011604790
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How does competition affect efficiency and soundness in banking? New empirical evidence
Schaeck, Klaus; Čihák, Martin - 2008
A growing body of literature indicates that competition increases bank soundness. Applying an industrial organization … indeed increases bank efficiency. Second, building on these results, we examine the relation between the Boone indicator … bank soundness. We find evidence that competition robustly increases bank soundness, via the efficiency channel. …
Persistent link: https://www.econbiz.de/10011604978
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Is There a Single Frontier in a Single European Banking Market?
Bos, Jaap W.B; Schmiedel, Heiko - 2021
This paper attempts to estimate comparable efficiency scores for European banks operating in the Single Market in the EU. Using a data set of more than 5000 large commercial banks from all major European banking markets over the period 1993-2004, the application of meta-frontiers enables us to...
Persistent link: https://www.econbiz.de/10013317337
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Optimal Reserve Composition in the Presence of Sudden Stops : The Euro and the Dollar as Safe Haven Currencies
Beck, Roland - 2008
We analytically derive optimal central bank portfolios in a minimum variance framework with two assets and quot …
Persistent link: https://www.econbiz.de/10012771394
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Why do financial systems differ? History matters
Monnet, Cyril; Quintin, Erwan - 2005
unique equilibrium path of bank and financial market lending. Yet we also show that economies whose fundamental …
Persistent link: https://www.econbiz.de/10011604488
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China's dominance hypothesis and the emergence of a tri-polar global currency system
Fratzscher, Marcel; Mehl, Arnaud - 2011
This paper assesses whether the international monetary system is already tripolar and centred around the US dollar, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s “dominance hypothesis”, i.e. whether the renminbi is already the dominant currency in Asia,...
Persistent link: https://www.econbiz.de/10011605438
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When did the dollar overtake sterling as the leading international currency? Evidence from the bond markets
Eichengreen, Barry; Mehl, Arnaud; Chiţu, Livia - 2012
This paper offers new evidence on the emergence of the dollar as the leading international currency, focusing on its role as currency of denomination in global bond markets. We show that the dollar overtook sterling much earlier than commonly supposed, as early as in 1929. Financial market...
Persistent link: https://www.econbiz.de/10011605478
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History, gravity and international finance
Eichengreen, Barry; Mehl, Arnaud; Chiţu, Livia - 2012
We analyze persistence in patterns of bilateral financial investment using data on US investors’ holdings of foreign bonds. We document a “history effect” in which the pattern of holdings seven decades ago continues to influence holdings today. 10 to 15% of the cross-country variation in...
Persistent link: https://www.econbiz.de/10011605511
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Large global volatility shocks, equity markets and globalisation: 1885-2011
Mehl, Arnaud - 2013
I estimate the transmission of large global volatility shocks in international equity markets from the earlier (pre-1914) to the modern era of globalisation. To that end, I identify 43 such shocks over the period 1885-2011, defined as significant increases in unanticipated volatility in US...
Persistent link: https://www.econbiz.de/10011605593
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Network effects, homogeneous goods and international currency choice: new evidence on oil markets from an older era
Eichengreen, Barry; Chiţu, Livia; Mehl, Arnaud - 2014
Conventional wisdom has it that network effects are strong in markets for homogeneous goods, leading to the dominance of one settlement currency in such markets. The alleged dominance of the dollar in global oil markets is said to epitomize this phenomenon. We question this presumption with...
Persistent link: https://www.econbiz.de/10011605696