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Persistent link: https://www.econbiz.de/10012796678
In 1871-73, newly unified Germany adopted the gold standard, replacing the silver-based currencies that had been … block. Why did Germany switch to gold and set the train of destructive events in motion? Both a review of the … France, which would have severed the link between gold and silver currencies. Without reform, Germany would thus have risked …
Persistent link: https://www.econbiz.de/10012009318
This paper analyzes trends in world military expenditure by examining the shares of different country groups and the …
Persistent link: https://www.econbiz.de/10014398344
This paper decomposes longer-run movements in (major) dollar real exchange rates into components associated with changes in nominal exchange rates and price levels, and their comovements. Though the decompositions suggest some permanent movements, they imply that there are large transitory...
Persistent link: https://www.econbiz.de/10014398349
Automated trade execution systems are examined with respect to the degree to which they automate the price discovery process. Seven levels of automation of price discovery are identified, and 47 systems are classified according to these criteria. Systems operating at various levels of automation...
Persistent link: https://www.econbiz.de/10014395803
country stock price indices, including that of the United States, Canada, the United Kingdom, France, Germany, and Japan are …
Persistent link: https://www.econbiz.de/10014395829
optimal portfolio strategies by fund managers. In emerging markets, dedicated managers outperforming a benchmark index and … global managers maximizing absolute returns lead to systematic interactions between asset prices, without asymmetric …
Persistent link: https://www.econbiz.de/10014404100
Using a sample of 97 countries spanning the period 1980?2008, we estimate that financial crises have a large negative impact on unemployment in the short term, but that this effect rapidly disappears in the medium term in countries with flexible labor market institutions, whereas the impact of...
Persistent link: https://www.econbiz.de/10009572447
Persistent link: https://www.econbiz.de/10009572457
This paper examines the empirical link between fiscal policy and the current account focusing on microstates defined as countries with a population of less than 2 million between 1970 and 2009. The paper employs panel regression and panel vector autoregression (VAR) on 155 countries of which 42...
Persistent link: https://www.econbiz.de/10009572529