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Brunnermeier, Markus K. - 2019

The financial crises of the last twenty years brought new economic concepts into classrooms discussions. This article introduces undergraduate students and teachers to seven of these models: (i) misallocation of capital inflows, (ii) modern and shadow banks, (iii) strategic complementarities and...

Persistent link: https://www.econbiz.de/10012480173

Evidence of Differences in the Effectiveness of Safety-Net Management in European Union Countries

Carbo-Valverde, Santiago - 2008

EU financial safety nets are social contracts that assign uncertain benefits and burdens to taxpayers in different member countries. To help national officials to assess their taxpayers' exposures to loss from partner countries, this paper develops a way to estimate how well markets and...

Persistent link: https://www.econbiz.de/10012464865

Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?

Kane, Edward J. - 2005

As financial institutions and markets transact more and more cross-border business, gaps and flaws in national safety nets become more consequential. Because citizens of host (home) countries may be made to pay for mistakes made in the home (host) country, Basel's lead-regulator paradigm...

Persistent link: https://www.econbiz.de/10012466813

Aging, Pension Reform, and Capital Flows : A Multi-Country Simulation Model

Boersch-Supan, Axel - 2005

-country overlapping generations model with detailed long-term demographic projections for seven world regions. Our simulations indicate … that capital flows from fast-aging regions to the rest of the world will initially be substantial but that trends are …

Persistent link: https://www.econbiz.de/10012466821

The Developed World's Demographic Transition - The Roles of Capital Flows, Immigration, and Policy

Fehr, Hans - 2003

payroll tax rates. This paper asks if there is a silver lining in this dark cloud hanging over the developed world … developed world's fiscal problems, macroeconomic feedback effects make matters significantly worse. The simulations also show … that increased immigration does very little to mitigate the fiscal stresses facing the developed world. On the other hand …

Persistent link: https://www.econbiz.de/10012468598

Why Europe Should Love Tax Competition - and the U.S. Even More So

Janeba, Eckhard - 2002

Is global competition for mobile capital harmful (less public goods) or beneficial (less government waste)? This paper combines both aspects within a generalized version of the comparative public finance model (Persson, Roland and Tabellini, 2000) by introducing multiple countries and endogenous...

Persistent link: https://www.econbiz.de/10012469372

Explaining Foreign Holdings of Asia's Debt Securities : The Feldstein-Horioka Paradox Revisited

Horioka, Charles Yuji - 2015

In this paper, we find that home bias is still present in all economies and regions, especially in the case of short-term debt securities, but that there are substantial variations among economies and regions in the strength of home bias, with the Eurozone economies, the US, and developing Asia...

Persistent link: https://www.econbiz.de/10012456936

The Euro and The Geography of International Debt Flows

Hale, Galina - 2014

Greater financial integration between core and peripheral EMU members not only had an effect on both sets of countries but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits, which inflated their economies by allowing credit booms....

Persistent link: https://www.econbiz.de/10012458631

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/10012461045

On the Gains to International Trade in Risky Financial Assets

Davis, Steven J. - 2000

This paper develops and implements a framework for quantifying the gains to international trade in risky financial assets. The framework can handle may agents, many assets, incomplete markets and limited participation in asset markets. It delivers closed-form analytic solutions for consumption,...

Persistent link: https://www.econbiz.de/10012470954

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