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effects of the monetary policies of the US Federal Reserve, the European Central Bank and of the People's Bank of China on the …
Persistent link: https://www.econbiz.de/10012660005
Large population / rapidly growing economies such as China and India have argued that in the upcoming UNFCCC …
Persistent link: https://www.econbiz.de/10012463280
In the paper we discuss China's participation in both the 2009 Copenhagen negotiations on a post-Kyoto global climate … change regime currently under way and out beyond Copenhagen in further negotiations likely to follow. China is now both the …. In the Copenhagen negotiation, there will be strong pressure on China to take on emissions reduction commitments and …
Persistent link: https://www.econbiz.de/10012464187
records from the world's largest payment network, this research compiles daily travel flows and documents that China's rapid …
Persistent link: https://www.econbiz.de/10013388818
The Panic of 1837 stands among the most severe banking crises in U.S. history, marking the start of a business downturn from which the nation would not recover for six years. Given the serious consequences of the panic for the rapidly evolving commercial and industrial sectors, it is thus not...
Persistent link: https://www.econbiz.de/10012471246
This paper uses an asymmetric information framework to understand the causes of the recent financial crisis in Korea. It shows that the Korean data is consistent with this explanation of the crisis. It then draws on this analysis to discuss several lessons that can help guide Korean policymakers...
Persistent link: https://www.econbiz.de/10012471293
The recent consensus view, that the gold standard was the leading cause of the worldwide Great Depression 1929-33, stems from two propositions: (1) Under the gold standard, deflationary shocks were transmitted between countries and, (2) for most countries, continued adherence to gold prevented...
Persistent link: https://www.econbiz.de/10012471669
Global risk-off shocks can be highly destabilizing for financial markets and, absent an adequate policy response, may trigger severe recessions. Policy responses were more complex for developed economies with very low interest rates after the Global Financial Crisis (GFC). We document, however,...
Persistent link: https://www.econbiz.de/10012479979
The process of central bank (CB) evolution by emerging market economies (EMEs), including central bank independence (CBI) and transparency (CBT), converged towards that of the advanced economies (AEs) before the Global Financial Crisis (GFC) of 2007-2008. It was greatly aided by the adoption of...
Persistent link: https://www.econbiz.de/10012480286
We investigate the transmission of central bank liquidity to bank deposits and loan spreads in Europe over the period from January 2006 to June 2010. We find evidence consistent with an impaired transmission channel due to bank risk. Central bank liquidity does not translate into lower loan...
Persistent link: https://www.econbiz.de/10012480422