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The currency union effect : a PPML reassessment with high-dimensional fixed effects

Larch, Mario; Wanner, Joschka; Yotov, Yoto V.; Zylkin, … - 2017

Recent work on the effects of currency unions (CUs) on trade stresses the importance of using many countries and years in order to obtain reliable estimates. However, for large samples, computational issues limit choice of estimator, leaving an important methodological gap. To address this gap,...

Persistent link: https://www.econbiz.de/10011653596

Currency unions, trade, and heterogeneity

Chen, Natalie; Novy, Dennis - 2018

How do trade costs affect international trade? This paper offers a new approach. We rely on a flexible gravity equation that predicts variable trade cost elasticities, both across and within country pairs. We apply this framework to the effect of currency unions on international trade. While we...

Persistent link: https://www.econbiz.de/10011867116

IMF's assistance : devil's kiss or guardian angel?

Brandes, Julia (contributor); Schüle, Tobias (contributor) - 2007

. Extending Morris and Shin (2006), we consider that the IMF's intervention policy usually exerts a signaling effect on private …'s signaling ability, our results state that repeated intervention is required to bail out a country, where by additional … assistance may induce moral hazard on the debtor side. Contrarily, if the IMF exerts a strong signaling effect, one single …

Persistent link: https://www.econbiz.de/10003636488

The EMU consolidation game - or: does 3.0 really mean 3.0?

Heinemann, Friedrich - 1998

Within the economic profession, it is a widely held view that the fiscal criteria of the Maastricht treaty are arbitrary numbers without economic foundation. Much of this criticism seems to overlook an important aspect - the strategic dimension of the criteria. This paper focuses on one...

Persistent link: https://www.econbiz.de/10011441024

Signaling Credibility? The IMF and Catalytic Finance

Edwards, Martin S. - 2007

IMF programs are thought to function as a seal of approval to international markets, though evidence suggests Fund programs do not attract capital inflows. Existing studies fail to address the effects of selection into IMF programs, which raises questions about the robustness of the findings....

Persistent link: https://www.econbiz.de/10012776110

Catalyzing Private Capital Flows : Do Imf-Supported Programs Work as Commitment Devices?

Mody, Ashoka; Saravia, Diego - 2021

provide a uniformly favorable signaling effect - that is, the mere existence of a program supported by the IMF does not act as …

Persistent link: https://www.econbiz.de/10013318004

ECB Foreign Exchange Intervention and the Euro : Institutional Framework, News and Intervention

Fatum, Rasmus; Hutchison, Michael M. - 2013

Using a unique intervention "news" data set, this paper investigates the impact of ECB intervention and intervention-related "news" (newswire reports) on the euro exchange rate. A time-series study of "news" generated by ECB officials and market participants regarding intervention and the value...

Persistent link: https://www.econbiz.de/10014034101

Catalyzing Capital Flows : Do IMF Programs Work as Commitment Devices?

Saravia, Diego; Mody, Ashoka - 2014

signaling effect, i.e., the mere presence of the IMF does not act as a strong seal of good housekeeping. Instead, the evidence …

Persistent link: https://www.econbiz.de/10014066259

Does regional currency integration ameliorate global macroeconomic shocks in sub-Saharan Africa? : the case of the 2008 - 2009 global financial crisis

Price, Gregory N.; Elu, Juliet U. - In: Journal of economic studies 41 (2014) 5, pp. 737-750

Persistent link: https://www.econbiz.de/10011338443

On the robustness of the trade-inducing effects of trade agreements and currency unions

Roy, Jayjit - In: Empirical economics : a journal of the Institute for … 47 (2014) 1, pp. 253-304

Persistent link: https://www.econbiz.de/10010380618

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