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Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union
Schnabl, Gunther; Zemanek, Holger - 2010
In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...
Persistent link: https://www.econbiz.de/10010275023
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The People's Republic of China and global imbalances from a view of sectorial reforms
Ito, Hiro; Volz, Ulrich - 2012
's Republic of China (PRC). In particular, we investigate to what extent reforms pertaining to the financial sector, social … protection, and healthcare may contribute to a rebalancing of the PRC's persistent current account imbalances. Our forecasting …-funded healthcare are also found to contribute to a rebalancing of the PRC economy. …
Persistent link: https://www.econbiz.de/10010397354
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How Can the Crisis Vulnerability of Emerging Economies Be Reduced?
Abberger, Klaus; Bhattacharyay, Biswa Nath; Nam, Chang Woon - 2014
Emerging countries in many cases are more crisis-prone than highly developed industrialized countries. This is in many cases due to a weak or volatile financial sector. The best policy to strengthen crisis resistance is the building up of a sound financial position. A sound financial position of...
Persistent link: https://www.econbiz.de/10011698419
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Asymmetric credit growth and current account imbalances in the euro area
Unger, Robert - 2015
The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries experienced pronounced credit booms at the same time that these imbalances were building up, this paper investigates the link between domestic credit developments and the current...
Persistent link: https://www.econbiz.de/10011372006
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Fiscal divergence and current account imbalances in Europe
Schnabl, Gunther; Wollmershäuser, Timo - 2013
Since the breakdown of the Bretton Woods System diverging current account positions in Europe have prevailed. While the Southern and Western European countries have tended to run current account deficits, the current accounts of the Central and Northern European countries, in particular Germany,...
Persistent link: https://www.econbiz.de/10010291505
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Inter-Temporal Savings, Current Account Dynamics and Asymmetric Shocks in a Heterogeneous European Monetary Union
Schnabl, Gunther; Zemanek, Holger - 2011
In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...
Persistent link: https://www.econbiz.de/10010305920
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The effects of the saving and banking glut on the U.S. economy
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013
We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...
Persistent link: https://www.econbiz.de/10010352184
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Understanding innovation in production networks in East Asia
Wignaraja, Ganeshan - 2013
exercise of technological capabilities and an econometric analysis of exporting in the People's Republic of China (PRC …, and capital also matter in the PRC as well as accumulated experience in Thailand. Furthermore, a technology index composed …
Persistent link: https://www.econbiz.de/10010397223
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Do exporting firms in the People's Republic of China innovate?
Wignaraja, Ganeshan - 2012
-level export performance in Asia's super exporter - The People's Republic of China (PRC). While early studies suggested that … innovation was important, there has been little research on opening up the black box of technology at firm-level in the PRC. This … paper undertakes econometric analysis of innovation, learning, and exporting in automobiles and electronics firms in the PRC …
Persistent link: https://www.econbiz.de/10010397326
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Large hoarding of international reserves and the emerging global economic architecture
Aizenman, Joshua - 2007
competitive devaluations. The sheer size of China, and its lower sterilization costs suggests that China may be the winner of a … and precautionary motives in the context of China may be challenged by a version of the peso problem; Hoarding …
Persistent link: https://www.econbiz.de/10010285334