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The paper provides a systematic comparison of the Eurosystem, the US Federal Reserve and the Bank of Japan. These …
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approach is able to measure competition of bank market segments, such as the loan market, whereas many well-known measures of … ignores differences in bank product quality and design, as well as the attractiveness of innovations. We measure competition … on the lending markets in the five major EU countries as well as, for comparison, the UK, the US and Japan. Bearing the …
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We show that traditional gravity variables play a significant role in explaining trade flows related to global value chain participation. We find evidence that cooperation costs - measured by linguistic and geographical proximity - are more relevant for trade that reflects cross-border...
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International trade in manufacturing goods has risen strongly over the past decades, contributing to the expansion of global value chains (GVCs). This paper studies how two factors contributed to this rise since 1970: (i) declining "border effects" that are arguably related to the ICT revolution...
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