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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

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

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

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

McQuade, Peter; Schmitz, Martin - 2016

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

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

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

(rapidly) than the rest of the world. Countries with more countercyclical net capital gains experience improved consumption …

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

Cross-border banking in the EU since the crisis : what is driving the great retrenchment?

Emter, Lorenz; Schmitz, Martin; Tirpák, Marcel - 2018

This paper examines the drivers of the retrenchment in cross-border banking in the European Union (EU) since the global financial crisis, which stands out in international comparison as banks located in the euro area and in the rest of the EU reduced their cross-border claims by around 25%....

Persistent link: https://www.econbiz.de/10011802126

Financial markets and international risk sharing in emerging market economics

Schmitz, Martin - 2012

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

Distance(s) and the volatility of international trade(s)

Mehl, Arnaud; Schmitz, Martin; Tille, Cédric - 2019

Does distance matter for the volatility of international real and financial transactions? We show that it does, in …

Persistent link: https://www.econbiz.de/10011994537

Determinants of currency choice in cross-border bank loans

Emter, Lorenz; McQuade, Peter; Pradhan, Swapan-Kumar; … - 2024

This paper provides insights into the determinants of currency choice in cross-border bank lending, such as bilateral distance, financial and trade linkages to issuer countries of major currencies, and invoicing currency patterns. Cross-border bank lending in US dollars, and particularly in...

Persistent link: https://www.econbiz.de/10014507151

Reducing large net foreign liabilities

Fidora, Michael; Schmitz, Martin; Tcheng, Céline - 2017

In light of persistently large net foreign liability (NFL) positions in several euro area countries, we analyse 138 episodes of sizeable NFL reductions for a broad sample of advanced and emerging economies. We provide stylised facts on the channels through which NFLs were reduced and estimate...

Persistent link: https://www.econbiz.de/10011659341