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This paper considers the nature and the distribution of trade and FDI effects of a potential enlargement of the European Monetary Union (EMU) to the 10 countries that obtained EU membership in 2004. One-way and two-way error component gravity models are estimated using a data set of unbalanced...
Persistent link: https://www.econbiz.de/10010325507
We examine the role of cost uncertainty in a firm's choice between exporting and foreign investment in oligopolistic industry. We consider both foreign direct investment and an international joint venture, and allow country-specific and firm-specific cost uncertainty. Unlike exporting, either...
Persistent link: https://www.econbiz.de/10010332410
Is there a pecking order of cross-border investment in that countries become financially integrated primarily through some types of investment rather than others? Using a novel database of bilateral capital stocks for all types of investment – FDI, portfolio equity securities, debt securities...
Persistent link: https://www.econbiz.de/10011604636
This study analyzes the potential impact of the Philippines-Japan Free Trade Agreement (FTA) on the Philippine economy in case of the Philippines' discriminately unilateral tariff reduction on import from Japan using a computable general equilibrium model for the Philippine economy. The result...
Persistent link: https://www.econbiz.de/10011429783
Persistent link: https://www.econbiz.de/10010527503
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From 1996 to 2015, total assets at Canadian and foreign banks operating in Canada grew four-times in size. This growth … describe how the Canadian banks earn revenue, fund business activities, and pay expenses. The success of the Canadian banking … trends in Canadian banking. Estimating a reduced form model similar to DeBoskey and Jiang (2012), I find no evidence that the …
Persistent link: https://www.econbiz.de/10011939430
cost efficiency and returns to scale (RTS) in Canadian banking. I estimate a transcendental log cost function for the six … largest Canadian commercial banks which account for approximately 90 percent of chartered bank assets over the 1996 … and price concavity. To my knowledge, this is the first paper to find evidence of constant RTS among the Canadian banks …
Persistent link: https://www.econbiz.de/10011939431
Using a model based on the work of Duarte and Eisenbach (2015), I stress test the Canadian banking system using … publicly available data from 1996 to 2015. I find that the Canadian banking system is resilient to all but the most extreme … aggregate vulnerability (AV), I find that the Canadian banking system has become more vulnerable to a fire-sale episode since …
Persistent link: https://www.econbiz.de/10011939432
I compare returns to scale in the U.S. and Canadian banking system from 1996 to 2015. I estimate a parametric trans … economies. Comparatively, I find constant RTS for the Canadian banks. They paid fewer costs per asset, particularly lower labour …
Persistent link: https://www.econbiz.de/10011939433