Showing 1 - 10 of 3,028
This paper examines volatility spillovers from changes in the size of the balance sheets of the Federal Reserve (FED) and European Central Bank (ECB) to emerging market economies (EMEs) from 2003 to 2014. We find that EME bond markets are most susceptible to positive volatility spillovers from...
Persistent link: https://www.econbiz.de/10011667194
Using bank-specific data on U.S. bank claims on individual foreign countries since the mid-1980s, this paper 1) characterizes the size and portfolio diversification patterns of the U.S. banks engaging in foreign lending, and 2) econometrically explores the determinants of fluctuations in U.S....
Persistent link: https://www.econbiz.de/10010283397
Observed international investment positions and cross-country heterogeneity in rates of return to capital are hard to reconcile with frictionless capital markets. In this paper, we develop a theory of international capital allocation: a multi-country dynamic spatial general equilibrium model in...
Persistent link: https://www.econbiz.de/10015072829
exchange rate volatilities had been generated using the GARCH(1,1) method. The results of the study suggest that exchange rate …
Persistent link: https://www.econbiz.de/10012435772
Efforts to spur growth in sub-Sahara Africa have been intensified amid structural and institutional constraints. Tax revenue, the chief source of funding for developmental purposes in SSA remains low and unstable. In fact, the SSA sub-region finds it difficult generating tax revenue up to 20 per...
Persistent link: https://www.econbiz.de/10012511634
Dans l’etude ci-dessous on a ete realise une interpretation de l'impact des fluctuations des taux de change du leu moldave (MDL) sur certaines variables economiques. La periode consideree est Novembre-Decembre 2014 et le debut de l'annee 2015. Notamment au cours de cette periode, le taux de la...
Persistent link: https://www.econbiz.de/10012017201
countries and product categories, in the euro area over the last fifteen years. Our results show that the transmission of … introduction of the euro caused a structural change in exchange rate pass-through. Although some estimated point elasticities have … manufacturing industries. And since the euro was introduced, industries producing differentiated goods have been more likely to …
Persistent link: https://www.econbiz.de/10010283307
Countries aspiring to join the euro area—the so-called accession countries—are increasingly binding their economic … activity, external and internal, to the euro-area countries. This phenomenon is observed in the currency invoicing of … degree of euro-denominated invoicing of exports. I find that the exporters in some accession countries might be pricing too …
Persistent link: https://www.econbiz.de/10010283347
accession process both in CEE and in the euro-zone. In order to provide topical advice, the first part, on markets, will …
Persistent link: https://www.econbiz.de/10010266828
We characterize the response of U.S., German and British stock, bond and foreign exchange markets to real-time U.S. macroeconomic news. Our analysis is based on a unique data set of high-frequency futures returns for each of the markets. We find that news surprises produce conditional mean...
Persistent link: https://www.econbiz.de/10010298290