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Persistent link: https://www.econbiz.de/10012691055
This paper argues that an optimal deposit insurance scheme would allow the level of insurance coverage to be determined … by the market. Based on this principle, the paper proposes an insurance scheme that minimizes distortions and embodies … fairness and credibility, two essential characteristics of a viable and effective deposit insurance scheme. Using a simple …
Persistent link: https://www.econbiz.de/10005768851
There is a widespread view that bank capital requirements should be loosened during recessions and tightened during expansions to avoid excessive credit and output swings. This view is based on a partial analysis that ignores the effects of capital requirement policies on the saving decisions of...
Persistent link: https://www.econbiz.de/10005768972
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate...
Persistent link: https://www.econbiz.de/10012677518
While standard demand factors perform well in predicting historical trade patterns, they fail conspicuously in 2020, when pandemic-specific factors played a key role above and beyond demand. Prediction errors from a multilateral import demand model in 2020 vary systematically with the health...
Persistent link: https://www.econbiz.de/10015060337
Do political regimes determine how geopolitics influence international trade? This paper provides an empirical answer to the question by analyzing the joint impact of democracy and geopolitical distance between countries with an augmented gravity model of bilateral trade flows and an extensive...
Persistent link: https://www.econbiz.de/10015058709
surveillance work. Recently, more emphasis has also been placed on the role of insurance for financial stability analysis. This … paper reviews the current state of system-wide solvency stress tests for insurance based on a comparative review of national …
Persistent link: https://www.econbiz.de/10012690575
Persistent link: https://www.econbiz.de/10012691193
This paper discusses the key sources of vulnerabilities for pension plans and insurance companies in light of the …
Persistent link: https://www.econbiz.de/10012677814
This paper investigates the asymmetries in trade spillovers from sector-specific technology shocks in China to selected euro area countries. We use a Ricardian-gravity trade model to estimate sectoral competitiveness in individual euro area countries. Simulations on the impact of productivity...
Persistent link: https://www.econbiz.de/10009622526