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A Non-Deliverable Currency and Procyclical Capital Flows
Kim, Hee-Sik - 2019
Original sin is widely considered inevitable for emerging market economies on the ground that their currencies are not accepted as international currencies. Few, however, explore the effects of currency controls on original sin. To examine this possibility, I consider an open economy with a...
Persistent link: https://www.econbiz.de/10012898664
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The Integration of Imperfect Financial Markets : Implications for Business Cycle Volatility
Buch, Claudia M.; Pierdzioch, Christian - 2004
During the last two decades, the degree of openness of national financial systems has increased substantially. At the same time, asymmetries in information and other financial market frictions have remain prevalent. We study both empirically and theoretically the implications of the opening up...
Persistent link: https://www.econbiz.de/10014072512
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The Integration of Imperfect Financial Markets: Implications for Business Cycle Volatility
Buch, Claudia M.; Pierdzioch, Christian - 2003
During the last two decades, the degree of openness of national financial systems has increased substantially. At the same time, asymmetries in information and other financial market frictions have remain prevalent. We study both empirically and theoretically the implications of the opening up...
Persistent link: https://www.econbiz.de/10010260621
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Exchange rate volatility effects on the German labour market : a survey of recent results and extensions
Buscher, Herbert S.; Müller, Claudia - 1999
In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analysed using three different volatility measures and four country groups. In...
Persistent link: https://www.econbiz.de/10001362959
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Exchange rate volatility effects on the German labour market : a survey of recent results and extensions
Buscher, Herbert S.; Mueller, Claudia - 1999
In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analysed using three different volatility measures and four country groups. In...
Persistent link: https://www.econbiz.de/10011294706
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A probit model for the state of the Greek GDP growth
Degiannakis, Stavros - In: International Journal of Financial Studies : open … 3 (2015) 3, pp. 381-392
The paper provides probability estimates of the state of the GDP growth. A regime-switching model defines the probability of the Greek GDP being in boom or recession. Then probit models extract the predictive information of a set of explanatory (economic and financial) variables regarding the...
Persistent link: https://www.econbiz.de/10011312197
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Big banks and macroeconomic outcomes : theory and cross-country evidence of granularity
Bremus, Franziska; Buch, Claudia M.; Russ, Katheryn Niles; … - 2013
. Using this framework, we show conditions under which idiosyncratic shocks to bank lending can generate aggregate … sector for many countries is indeed granular, as the right tail of the bank size distribution follows a power law. We then … concentration is associated with a positive and significant relationship between bank-level credit growth and aggregate growth of …
Persistent link: https://www.econbiz.de/10010225567
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Big banks and macroeconomic outcomes : theory and cross-country evidence of granularity ; conference paper
Bremus, Franziska; Buch, Claudia M.; Russ, Katheryn Niles; … - 2013
right tail of the bank size distribution follows a power law. Also, the presence of big banks as measured by high market …
Persistent link: https://www.econbiz.de/10010336792
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Bank risk and cross-border banking : an empirical analysis
Neugebauer, Katja - 2011 - 1. Aufl.
Persistent link: https://www.econbiz.de/10009010058
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Financial cycles in Europe : dynamics, synchronicity and implications for business cycles and macroeconomic imbalances
Adarov, Amat - 2019
Using dynamic factor models and state-space techniques we quantify financial cycles for twenty European countries over the period 1960Q1–2015Q4 capturing imbalances across credit, housing, bond and equity markets. The paper documents the existence of slow-moving and persistent financial cycles...
Persistent link: https://www.econbiz.de/10012153925