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This paper presents a new model of the domino effect which is used to generate an empirical index of how "contagious" FTAs are with respect to third nations. We test our contagion hypothesis together with alternative specifications of interdependence and other political, economical and...
Persistent link: https://www.econbiz.de/10012462571
The recent financial crisis has shown how interconnected the financial world has become. Shocks in one location or … asset class can have a sizable impact on the stability of institutions and markets around the world. But systemic risk …
Persistent link: https://www.econbiz.de/10012460129
between integration and synchronization depends on the type of shocks hitting the world economy, and that shocks to global …
Persistent link: https://www.econbiz.de/10012460452