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Cross-Country Causes and Consequences of the Crisis : An Update

Rose, Andrew Kenan - 2010

We update Rose and Spiegel (2009a, b) and search for simple quantitative models of macroeconomic and financial indicators of the "Great Recession" of 2008-09. We use a cross-country approach and examine a number of potential causes that have been found to be successful indicators of crisis...

Persistent link: https://www.econbiz.de/10013139743

Risk Sharing Through Capital Gains

Balli, Faruk - 2011

We estimate channels of international risk sharing between European Monetary Union (EMU), European Union, and other OECD countries 1992-2007. We focus on risk sharing through savings, factor income flows, and capital gains. Risk sharing through factor income and capital gains was close to zero...

Persistent link: https://www.econbiz.de/10013118134

Currency Unions and Trade : A Post-Emu Mea Culpa

Glick, Reuven - 2015

In our European Economic Review (2002) paper, we used pre-1998 data on countries participating in and leaving currency unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a variety of empirical gravity models to estimate the...

Persistent link: https://www.econbiz.de/10013015976

Financial Integration within EU Countries : The Role of Institutions, Confidence and Trust

Ekinci, Mehmet Fatih - 2010

the language of Obstfeld and Taylor (2004). We find evidence that capital market integration within the EU is less than …

Persistent link: https://www.econbiz.de/10012759795

Expected and Predicted Realignments : The Ff/Dm Exchange Rate During the EMS

Rose, Andrew Kenan; Svensson, Lars E. O. - 2021

An empirical model of time-varying realignment risk in an exchange rate target zone is developed. Expected rates of devaluation are estimated as the difference between interest race differentials and estimated expected rates of depreciation within the exchange rate band, using French...

Persistent link: https://www.econbiz.de/10013217941

Consumption Smoothing Through Fiscal Policy in OECD and EU Countries

Arreaza, Adriana; Sørensen, Bent E.; Yosha, Oved - 2021

We measure the amount of smoothing achieved through various components of the government deficit in EU and OECD … countries. For EU countries, at the 1-year frequency percent of shocks to GDP are smoothed via government consumption, 18 …. Government transfers provide more smoothing of negative than of positive shocks among EU countries. There seems to be no trade …

Persistent link: https://www.econbiz.de/10013225817

Deep Financial Integration and Volatility

Kalemli-Ozcan, Sebnem - 2010

very large firm-level dataset from EU countries over time, we construct a measure of "deep" financial integration at the … transposition dates of EU-wide legislation, we find that high trust regions in countries who harmonized capital markets sooner have …

Persistent link: https://www.econbiz.de/10013144963

European Exchange Rate Credibility Before the Fall

Rose, Andrew Kenan; Svensson, Lars E. O. - 2022

Realignment expectations which measure exchange rate credibility are analyzed for European exchange rates, using daily financial data since the inception of the EMS. It is difficult to find economically meaningful relationships between realignment expectations and macroeconomic variables,...

Persistent link: https://www.econbiz.de/10013324139

Speculative Attacks on Pegged Exchange Rates : An Empirical Exploration with Special Reference to the European Monetary System

Eichengreen, Barry; Rose, Andrew Kenan; Wyplosz, Charles - 2021

This paper presents an empirical analysis of speculative attacks on pegged exchange rates in 22 countries between 1967 and 1992. We define speculative attacks or crises as large movements in exchange rates, interest rates, and international reserves. We develop stylized facts concerning the...

Persistent link: https://www.econbiz.de/10013227044