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Cross-border Mergers and Acquisitions: On Revealed Comparative Advantage And Merger Waves

Brakman, Steven; Garretsen, Harry; van Marrewijk, Charles - 2007

interaction between firms in a general equilibrium setting). In terms of economic importance, the dominant merger wave variable is … a positive global-all effect, indicating that M&A waves are an economy-wide, global phenomenon. Country-specific merger …

Persistent link: https://www.econbiz.de/10010325855

Causes and consequences of merger waves

Kleinert, Jörn; Klodt, Henning - 2002

This paper presents some ideas about determinants of merger waves and some evidence on their effect on profitability … and employment. A brief survey of previous merger waves and an analysis of the recent one give support to the hypothesis … that sectoral shocks are at the root of merger waves. Deregulation and globalization are identified as the shocks …

Persistent link: https://www.econbiz.de/10010271917

Cross-Border Bank Mergers: What Lures the Rare Animal?

DeLong, Gayle L.; Buch, Claudia M. - 2001

which information costs and regulations hold back merger activity. Our results suggest that banks operating in more …

Persistent link: https://www.econbiz.de/10010260608

Systemic Risk Diagnostics

Schwaab, Bernd; Lucas, Andre; Koopman, Siem Jan - 2010

A macro-prudential policy maker can manage risks to financial stability only if currentand future risks can be reliably assessed. We propose a novel framework to assessfinancial system risk. Using a dynamic factor framework based on state-space methods, we model latent macro-financial and credit...

Persistent link: https://www.econbiz.de/10010325790

Global and Regional Impacts of the Clean Development Mechanism

Wang, Shunli; de Groot, Henri L.F.; Nijkamp, Peter; … - 2009

consequences of non-participation of the USA in the global coalition, and the associated distributional impacts world-wide. …

Persistent link: https://www.econbiz.de/10010326040

TAFTA - a dead horse or an attractive open club?

Siebert, Horst - 2005

A Transatlantic Free Trade Area (TAFTA) has been proposed in the mid-1990s to revitalize the economic and political ties between the United States and the European Union. This paper discusses the expected economic gains from such a free trade area for its members with respect to trade in goods...

Persistent link: https://www.econbiz.de/10010273144

Explaining ECB and Fed interest rate correlation: Economic interdependence and optimal monetary policy

Mandler, Martin - 2010

This paper studies whether the observed high correlation between monetary policy in the U.S. and the Euro area can be explained by economic fundamentals, i.e. by macroeconomic interdependence between the two regions. We show that an optimal monetary policy reaction function for the ECB that...

Persistent link: https://www.econbiz.de/10010286383

Estimating the shape of economic crises under heterogeneity

Dovern, Jonas; Jannsen, Nils - 2009

During the ongoing financial crisis the analysis of similar historical crises has gained more and more attention among economic researchers and forecasters. Existing studies, however, do not tackle the immense heterogeneity that is present in cross-country samples in a formal and consistent way....

Persistent link: https://www.econbiz.de/10010265233

Why it pays for aid recipients to take note of the Millennium Challenge Corporation: Other donors do!

Dreher, Axel; Nunnenkamp, Peter; Öhler, Hannes - 2010

It is widely believed that the Millennium Challenge Corporation (MCC) has grossly fallen short of high expectations raised by the Bush administration in 2002. From the perspective of potential recipient countries, the crucial issue is whether the MCC increased the overall pool of aid resources...

Persistent link: https://www.econbiz.de/10010277984

Is Economic Recovery a Myth? Robust Estimation of Impulse Responses

Teulings, Coen N.; Zubanov, Nick - 2010

We estimate the impulse response function (IRF) of GDP toa banking crisis, applying an extension of the local projectionsmethod developed in Jorda (2005). This method is shown to bemore robust to misspecification than calculating IRFs analytically. However, it suffers from a hitherto unnoticed...

Persistent link: https://www.econbiz.de/10010325680