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The evolution of offshore renminbi trading: 2016 to 2019
Cheung, Yin-Wong; Grimm, Louisa; Westermann, Frank - 2020
We study the evolution of offshore renminbi trading between 2016 and 2019. The diffusion behaviour of offshore renminbi trading during this period is different from the one between 2013 and 2016. The geographical diffusion process displayed in the 2016-2019 period, in addition to the previously...
Persistent link: https://www.econbiz.de/10012271925
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The Home Bias in Equities and Distribution Costs
Harms, Philipp; Hoffmann, Mathias; Ortseifer, Christina - 2010
We show that including distribution costs into a general equilibrium model of international portfolio choice contributes to explaining the "home bias" in international equity investment. Our model is able to replicate observed investment positions for a wide range of parameter values, even if...
Persistent link: https://www.econbiz.de/10011430091
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Low Risk Sharing with Many Assets
Marin, Emile A.; Singh, Sanjay R. - 2023
Classical contributions in international macroeconomics rely on goods-market mechanisms to reconcile the cyclicality of real exchange rates when financial markets are incomplete. However, cross-border trade in one domestic and one foreign-currency-denominated risk-free asset prohibits these...
Persistent link: https://www.econbiz.de/10014474481
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Selective swap arrangements and the global financial crisis: Analysis and interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap …
Persistent link: https://www.econbiz.de/10010287784
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Selective swap arrangements and the global financial crisis: Analysis and interpretation
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2009
The onset of the US credit crisis in 2008, and its rapid globalization induced the FED to extend unprecedented swap …
Persistent link: https://www.econbiz.de/10010288132
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Creditor Rights, Country Governance, and Corporate Cash Holdings
Seifert, Bruce; Faleye, Olubunmi; Gonenc, Halit - 2012
This study examines the impact of creditor rights on cash holdings using a sample of firms from 48 countries. We argue that creditor rights affect the willingness of lenders to provide credit, which in turn affects the need for internal liquidity and cash holdings. Consistent with this, we find...
Persistent link: https://www.econbiz.de/10010500217
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Determinants of financial stress and recovery during the great recession
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
In this paper, we explore the link between stress in the domestic financial sector and the capital flight faced by countries in the 2008-9 global crisis. Both the timing of emergence of internal financial stress in developing economies, and the size of the peak-trough declines in the stock price...
Persistent link: https://www.econbiz.de/10010287772
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Determinants of financial stress and recovery during the great recession
Aizenman, Joshua; Pasricha, Gurnain Kaur - 2010
In this paper, we explore the link between stress in the domestic financial sector and the capital flight faced by countries in the 2008-9 global crisis. Both the timing of emergence of internal financial stress in developing economies, and the size of the peak-trough declines in the stock price...
Persistent link: https://www.econbiz.de/10010288149
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War and the international trading system in the twentieth century
Rockoff, Hugh - 2011
the twentieth century were dominated by the international gold standard. But as a result of World War I, this system was … replaced by the troubled gold exchange standards of the 1920s and 1930s. As a result of World War II the interwar system was … replaced in turn by the Bretton Woods system. And as a result of inflation of the late 1960s, produced in part by America's war …
Persistent link: https://www.econbiz.de/10010282840
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Fertility transitions along the extensive and intensive margins
Aaronson, Daniel; Lange, Fabian; Mazumder, Bhashkar - 2011
This paper examines the fertility transition through a new lens: the extensive margin. Parents with high levels of children might substitute quality for quantity as the constraints on quality relax or those on quantity tighten. However, along the extensive margin, the quantity-quality trade-off...
Persistent link: https://www.econbiz.de/10010292180