Similar Search Results

External and macroeconomic adjustment in the larger euro area countries

Angelini, Elena; Ca'Zorzi, Michele; Forster-van … - 2014

Persistent link: https://www.econbiz.de/10010380062

The current account and monetary policy in the euro area

Schuler, Tobias; Sun, Yiqiao - 2022

We investigate the factors driving current account and monetary policy developments in the euro area. We estimate an open-economy structural vector autoregression (VAR) model with zero and sign restrictions derived from a multi-country dynamic stochastic general equilibrium (DSGE) model to...

Persistent link: https://www.econbiz.de/10013329445

Global roles of currencies

Thimann, Christian - 2009

This paper presents a new concept the global roles of currencies. The concept combines the domestic and international (cross-border) use of currencies and therefore captures the overall importance of different currencies in a globalised economy. The measure of a currency's global role is based...

Persistent link: https://www.econbiz.de/10003832364

International financial linkages of Latin American banks : the effects of political risk and deposit dollarisation

Ramon-Ballester, Francisco (contributor); … - 2007

This paper empirically investigates the extent to which the financial linkages of Latin American banks with the exterior are influenced by political risk and deposit dollarisation. We find that the sum of banks’ foreign assets and liabilities is a function of risk-return considerations and...

Persistent link: https://www.econbiz.de/10003456418

Financial dollarization: the role of banks and interest rates

Basso, Henrique S. (contributor); … - 2007

This paper develops a model to explain the determinants of financial dollarization. Expanding on the existing … literature, our framework allows interest rate differentials to play a role in explaining financial dollarization. It also … transition economies we find that increasing access to foreign funds leads to higher credit dollarization, while it decreases …

Persistent link: https://www.econbiz.de/10003472981

Was unofficial dollarisation/euroisation an amplifier of the "Great Recession" of 2007 - 09 in emerging economies

Chiţu, Livia - 2012

Persistent link: https://www.econbiz.de/10009765967

Optimal currency shares in international reserves : the impact of the euro and the prospects for the dollar

Papaioannou, Elias (contributor); … - 2006

Foreign exchange reserve accumulation has risen dramatically in recent years. The introduction of the euro, greater liquidity in other major currencies, and the rising current account deficits and external debt of the United States have increased the pressure on central banks to diversify away...

Persistent link: https://www.econbiz.de/10003396777

On the empirical evidence of the intertemporal current account model for the euro area countries

Ca'zorzi, Michele (contributor); … - 2008

In this paper we present a novel approach to the empirical validation of the intertemporal approach to the current account. We develop a calibrated model highlighting the role of consumption smoothing and capital accumulation in the economic convergence process. After solving the model, we...

Persistent link: https://www.econbiz.de/10003778788

Does fiscal policy matter for the trade account? : A panel cointegration study

Funke, Katja (contributor); Nickel, Christiane (contributor) - 2006

This paper analyses the empirical relationship between fiscal policy and the trade account. Research prior to this paper did not consider that the components of private and public demand in the import demand equation exhibit different elasticities. Using pooled mean group estimation for annual...

Persistent link: https://www.econbiz.de/10003320763

On the determinants of external imbalances and net international portfolio flows : a global perspective

De Santis, Roberto A. (contributor); … - 2006

In a panel covering a large number of countries from 1970 to 2003, we show that net portfolio flows play an important role in correcting external imbalances, since they are driven by common determinants represented by countries' demographic profiles, the quality of institutions, monetary...

Persistent link: https://www.econbiz.de/10003358420