Showing 1 - 10 of 222
to shocks. We use a stylised two-bloc, two-period model of the global economy, with a simple stochastic productivity … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …
Persistent link: https://www.econbiz.de/10009635970
Persistent link: https://www.econbiz.de/10010527752
Persistent link: https://www.econbiz.de/10009636970
In this paper we study the zero frequency spectral properties of fractionally cointegrated long memory processes and introduce a new frequency domain principal components estimator of the cointegration space and the factor loading matrix for the long memory factors. We find that for fractionally...
Persistent link: https://www.econbiz.de/10009636544
This paper analyzes cooperation between sovereign national authorities in the supervision and regulation of a multinational bank. We take a political economy approach to regulation and assume that supervisors maximize the welfare of their own country. The communication between the supervisors is...
Persistent link: https://www.econbiz.de/10009636539
Persistent link: https://www.econbiz.de/10011989624
The paper analyses possible consequences of the EU enlargement on the EU trade with the Commonwealth of Independent States (CIS). It considers the current situation in trade between the two groups of countries, describes the factors limiting this trade, and discusses the opportunities for the...
Persistent link: https://www.econbiz.de/10009636571
Persistent link: https://www.econbiz.de/10009636799
Persistent link: https://www.econbiz.de/10009636824
Persistent link: https://www.econbiz.de/10009637794