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Foreign currency borrowing : the case of Hungary

Pellényi, Gábor; Bilek, Péter - 2009

find evidence that Hungarian FX borrowers are better educated, wealthier or more risk-loving than their peers. In fact, FX …

Persistent link: https://www.econbiz.de/10011387186

Does the nominal exchange rate regime affect the real interest parity condition?

Dreger, Christian - 2008

The real interest partity (RIP) condition combines two cornerstones in international finance, uncovered interest parity (UIP) and ex ante purchasing power parity (PPP). The extent of deviation from RIP is therefore an indicator of the lack of product and financial market integration. This paper...

Persistent link: https://www.econbiz.de/10011342531

Optimal monetary policy in a monetary union with housing and credit market heterogeneity

Elstner, Steffen; Hristov, Nikolay; Hülsewig, Oliver; … - 2010

This paper develops a two-country DSGE model for a monetary union in which each country is populated by two types of households - savers and borrowers - and two types of production sectors - a consumption goods sector and a housing sector. Households trade nominal private debt in equilibrium,...

Persistent link: https://www.econbiz.de/10011389355

How does European integration affect the European stock markets?

Erdogan, Burcu - 2009

This paper examines the integration of stock markets in Germany, France, Netherlands, Ireland and UK over the January 1973- August 2008 period at the aggregate market and industry level considering the following industries: basic materials, consumer goods, industrials, consumer services, health...

Persistent link: https://www.econbiz.de/10011387022

European financial market integration : a closer look at government bonds in Eurozone countries

Weber, Sebastian - 2009

The European Union made a number of steps not least of them the introduction of a common currency to foster the integration of the European financial markets. A number of papers have tried to gauge the degree of integration for various financial markets looking at the convergence of interest...

Persistent link: https://www.econbiz.de/10011387026

Drivers of exchange rate dynamics in selected CIS countries : evidence from a FAVAR analysis

Dreger, Christian; Fidrmuc, Jarko - 2009

We investigate the likely sources of exchange rate dynamics in selected CIS countries (Russia, Kazakhstan, Ukraine, Kyrgyzstan, Azerbaijan, and Moldova) over the past decade (1999-2008). The analysis is based on country VAR models augmented by a regional common factor structure (FAVAR model)....

Persistent link: https://www.econbiz.de/10011387304

International consumption risk sharing with incomplete goods and asset markets

Blank, Sven - 2009

Perfect consumption risk sharing requires both, frictionless goods as well as frictionless financial market integration …. This project aims at analyzing the consequences of both type of frictions for the allocation of risk across countries in a … consumption risk sharing depending on the nature of the underlying shock. …

Persistent link: https://www.econbiz.de/10011387161

Research note on "International consumption risk sharing with incomplete goods and asset markets"

Blank, Sven - 2009

Perfect risk sharing requires both, frictionless goods as well as frictionless asset markets. To analyze the … consequences of both type of frictions for consumption risk sharing across countries, the model by Ghironi and Melitz (2005) is …

Persistent link: https://www.econbiz.de/10011387168

International consumption risk sharing and monetary policy

Blank, Sven - 2009

Persistent link: https://www.econbiz.de/10011387171

Unemployment and portfolio choice : does persistence matter?

Kuzin, Vladimir; Bremus, Franziska - 2010

(2005). We extend it by unemployment risk using Markov chains to model the transition between different employment states … systems as those established in the EU are able to offset the negative impact of unemployment risk on the portfolio …

Persistent link: https://www.econbiz.de/10011389307