Similar Search Results

Channels of international risk-sharing : capital gains versus income flows

Bracke, Thierry (contributor); Schmitz, Martin (contributor) - 2008

in a countercyclical way, that is they tend to be positive (negative) when the domestic economy is growing more slowly … (rapidly) than the rest of the world. Countries with more countercyclical net capital gains experience improved consumption …

Persistent link: https://www.econbiz.de/10003790943

Financial remoteness and the net external position

Schmitz, Martin - 2011

This paper shows that, controlling for standard determinants of net external positions, financially-remote countries exhibit more positive net external positions. This finding is found to be stronger for less advanced countries, hinting at external funding problems for more remote countries....

Persistent link: https://www.econbiz.de/10009006634

Financial markets and international risk sharing in emerging market economics

Schmitz, Martin - 2012

Persistent link: https://www.econbiz.de/10009765166

Investing in crises

Baron, Matthew; Laeven, Luc; Pénasse, Julien; Usenko, … - 2021

We investigate asset returns around banking crises in 44 advanced and emerging economies from 1960 to 2018. In contrast to the view that buying assets during banking crises is a profitable long-run strategy, we find returns of equity and other asset classes generally underperform after banking...

Persistent link: https://www.econbiz.de/10012518234

Financial markets and green innovation

Aghion, Philippe; Boneva, Lena; Breckenfelder, Johannes; … - 2022

Fulfilling the commitments embedded in the Paris Agreement requires a climate-technology revolution. Patented innovation of low-carbon technologies is lower in the EU than in selected peers, and very heterogeneous across member states. We motivate this fact with an endogenous model of directed...

Persistent link: https://www.econbiz.de/10013285966

Cross-border currency exposures : new evidence based on an enhanced and updated dataset

Bénétrix, Agustín; Gautam, Deepali; Juvenal, Luciana; … - 2020

This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporating actual data reported by statistical authorities and refining estimation methods....

Persistent link: https://www.econbiz.de/10012224121

International capital flows at the security level : evidence from the ECB's Asset Purchase Programme

Bergant, Katharina; Fidora, Michael; Schmitz, Martin - 2020

We analyse euro area investors' portfolio rebalancing during the ECB's Asset Purchase Pro- gramme at the security level. Based on net transactions of domestic and foreign securities, we observe euro area sectors' capital ows into individual securities, cleaned from valuation effects. Our...

Persistent link: https://www.econbiz.de/10012197845

The great moderation in international capital flows : a global phenomenon?

McQuade, Peter; Schmitz, Martin - 2016

Persistent link: https://www.econbiz.de/10011619387

America First? : a US-centric view of global capital flows

McQuade, Peter; Schmitz, Martin - 2019

with those of the rest of the world. We analyse the relative importance of US, country-specific, and global variables as …. Global and national risk indicators perform better in explaining "rest of the world" flows. Moreover, we find that the … correlation between US and rest of the world flows peaks in periods of elevated uncertainty. We interpret our findings as evidence …

Persistent link: https://www.econbiz.de/10011975553

Managing the sovereign-bank nexus

Dell'Ariccia, Giovanni; Ferreira, Caio; Jenkinson, Nigel; … - 2018

This paper identifies the various channels that give rise to a "sovereign-bank nexus" whereby the financial health of banks and sovereigns is intertwined. We find that banks and sovereigns are linked by three interacting channels: banks hold large amounts of sovereign debt; banks are protected...

Persistent link: https://www.econbiz.de/10011901498