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There is an increasing tension between the Iranian Government and the west on an increasingly likely European oil embargo and the Iranian threat to close the Strait of Hormuz. The main question is: What will happen to the international oil prices in the case of shocks in the flow of Iranian oil...
Persistent link: https://www.econbiz.de/10009418486
The paper evaluates the present and future international currency status of the US dollar, the euro and the yen. In section two the functions, benefits, and costs of a leading international currency are discussed. In section three key determinants for the continuous dominance of the US dollar...
Persistent link: https://www.econbiz.de/10013136590
This paper analyzes sovereign risk contagion in the Eurozone using an extension to the canonical model for contagion …
Persistent link: https://www.econbiz.de/10011107941
The welfare state was created after 1950 with counterproductive mechanisms and this caused high inflation and high unemployment and stagnating growth by 1970, called stagflation. Since 1970 governments redressed the welfare state but did not succeed in finding workable mechanisms. They rather...
Persistent link: https://www.econbiz.de/10011108214
: We examine the volatility spillovers among major Eurozone countries employing the Diebold and Yilmaz (2012) model … in a very high degree. 74.9% of total volatility in the Eurozone markets is attributed to spillover effects from other …
Persistent link: https://www.econbiz.de/10011110487
The paper focuses on empirical analysis of major factors that determine innovation activities of Russian manufacturing firms during the crisis. We presume that the crisis has ambiguous effects on firms' behaviour, on one hand limiting their financial capabilities to invest into new products...
Persistent link: https://www.econbiz.de/10013082604
investment areas under foreign law (think of Magna Graecia). (2) EUR 400 billion can be injected in eurozone equity (and not … eurozone bonds) in banks to allow the increase from the 8% to the 10.5% target. This equity can be managed by newly created … independent ERC Investment Banks (ERBs), where the shares are allocated to eurozone member states in proportion to their GDP. This …
Persistent link: https://www.econbiz.de/10009294940
Indeed, the specification of equilibrium in the world economy depends on the exchange rate regime and thus, the early contributions to the postwar literature on exchange rate economics are to a large extent concerened with the role of speculation in foreign exchange markets. However, the world...
Persistent link: https://www.econbiz.de/10005619306
The rules of the Eurozone cause the euro to function as the gold standard. The US economy performs better in some … dependent upon current ad hoc measures, with the loss of welfare over the years 2008-2013+. If Eurozone nations create their own … of Greece and Italy. Their participation in the Eurozone was a political decision and thus the Eurozone must bear the …
Persistent link: https://www.econbiz.de/10011107257
different countries and that the results also differ along the various oil shock specifications. Our finding suggests that oil …
Persistent link: https://www.econbiz.de/10011253065