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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
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Fiscal multipliers and foreign holdings of public debt
Broner, Fernando; Clancy, Daragh; Erce, Aitor; Martin, … - 2019
smaller than one when the foreign share is low, such as in the U.S. in the 1950's and 1960's and Japan today, and larger than …
Persistent link: https://www.econbiz.de/10011994640
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Country and sector-specific spillover effects in the euro area, the United States and Japan
Kaltenhaeuser, Bernd - 2003
United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects …
Persistent link: https://www.econbiz.de/10009635881
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Cross-country price and inflation dispersion : retail network or national border?
Messner, Teresa; Rumler, Fabio; Strasser, Georg - 2023
(Why) do prices and inflation rates differ within the euro area? We study the relevance of a national border for …-level inflation rates differ for only half of the chains. The results highlight the importance of the history-dependent evolution of … distribution networks and of the structure of the sales organization as a driver of price and inflation heterogeneity. …
Persistent link: https://www.econbiz.de/10013552597
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Financial regulation, financial globalization and the synchronization of economic activity
Kalemli-Ozcan, Sebnem; Papaioannou, Elias; Peydró, … - 2010
We identify the effect of financial integration on international business cycle synchronization, by utilizing a confidential database on banks' bilateral exposure and employing a country-pair panel instrumental variables approach. Countries that become more integrated over time have less...
Persistent link: https://www.econbiz.de/10003986638
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EMU and European government bond market integration
Abad, Pilar; Chuliá, Helena; Gómez Puig, Marta - 2009
The main objective of this paper is to study whether the introduction of the euro had an impact on the degree of integration of European Government bond markets. We adopt the CAPM-based model of Bekaert and Harvey (1995) to compare, from the beginning of Monetary Union until June 2008, the...
Persistent link: https://www.econbiz.de/10003963733
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Financial integration in Europe through the lens of composite indicators
Hoffmann, Peter; Kremer, Manfred; Zaharia, Sonia - 2019
This paper develops composite indicators of financial integration within the euro area for both price-based and quantity-based indicators covering money, bond, equity and banking markets. Prior to aggregation, individual integration indicators are harmonised by applying the probability integral...
Persistent link: https://www.econbiz.de/10012104477
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Financial openness and growth
Fratzscher, Marcel; Bussiere, Matthieu - 2004
No empirical evidence has yet emerged for the existence of a robust positive relationship between financial openness and economic growth. This paper argues that a key reason for the elusive evidence is the presence of a time-varying relationship between openness and growth over time: countries...
Persistent link: https://www.econbiz.de/10009639402
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Currency mismatch, uncertainty and debt maturity structure
Bussière, Matthieu; Fratzscher, Marcel; Koeniger, Winfried - 2004
The academic literature has so far little to say about the underlying causes of the large structural asset and liability imbalances of emerging markets that frequently contributed to financial crises. The aim of the paper is to contribute to filling this gap by proposing a theoretical model that...
Persistent link: https://www.econbiz.de/10009639469
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Cross-border effects of prudential regulation : evidence from the euro area
Franch, Fabio; Nocciola, Luca; Żochowski, Dawid - 2019
We analyse the cross-border propagation of prudential regulation in the euro area. Using the Prudential Instruments Database (Cerutti et al., 2017b) and a unique confidential database on balance sheets items of euro-area financial institutions we estimate panel models for 248 banks from 16...
Persistent link: https://www.econbiz.de/10012009222