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The aim of this paper is to investigate the role of Jacobian externalities stemmed from different technological sectors for international firms engaged both in environmental and in dirty activities. Firms' innovation, measured, as the development of new patents, is a key factor behind the...
Persistent link: https://www.econbiz.de/10012961274
Persistent link: https://www.econbiz.de/10013459233
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
After the beginning of the euro area, countries in its periphery engaged in weighty borrowing from foreign private investors, allowing domestic spending to outpace incomes. Now, these countries face debt crises reflecting a loss of creditor confidence in the sustainability of their finances from...
Persistent link: https://www.econbiz.de/10009370831
The 2007/8 financial crisis exposed and exacerbated the debt pathologies of the ‘West’. The paper examines whether the new global debt relations that have been generated by this crisis have transformed global power politics, changing the way in which the ‘global South’ and the ‘global...
Persistent link: https://www.econbiz.de/10011259196
This paper analyzes empirically the impact of fiscal policy on the price level for Germany and Spain. We investigate, whether the fiscal theory of the price level (FTPL) is able to deliver a reasonable explanation for the different evolutions of the price levels in these two countries during...
Persistent link: https://www.econbiz.de/10005621643
volatility will be made with the development of selected developed stock markets (France, Germany, the United Kingdom, USA … be analyzed (monthly returns and risks), as well as trends of volatility development among particular countries. The … comparison of stock market volatility in examined period from 2003:03 to 2013:02 has confirmed divergence in volatility …
Persistent link: https://www.econbiz.de/10011071619
Lack of coordination between the monetary and fiscal authorities will result in inferior overall economic performance. This paper studies the interactions between monetary and fiscal policies and its effect on the economic performance by using al cointegration tests in the case of Euro Area....
Persistent link: https://www.econbiz.de/10011114139
This study examines the key drivers of sovereign default risk in five euro area periphery countries and three euro-candidates that are currently pursuing independent monetary policies. We argue that the recent proliferation of sovereign risk premiums stems from both domestic and international...
Persistent link: https://www.econbiz.de/10011257986
Previous studies have investigated the comovements of international equity markets by using correlation, cointegration, common factor analysis, and other approaches. In this paper, we investigate the stochastic structure of major euro and non-euro area stock market series from 1994 to 2006, by...
Persistent link: https://www.econbiz.de/10005789849