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Growth expectations, capital flows and international risk sharing

Castrén, Olli; Miller, Marcus; Stiegert, Roger - 2003

international equity transactions that accentuate the role of international risk sharing as a factor for the macroeconomic response … 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

Country and sector-specific spillover effects in the euro area, the United States and Japan

Kaltenhaeuser, Bernd - 2003

Within a two-step GARCH framework we explore the linkages between equity returns of ten sectors in the euro area, the United States and Japan, respectively. Our estimation framework allows a distinction to be made between spillover effects originating from one of the three currency areas and...

Persistent link: https://www.econbiz.de/10009635881

The euro area financial system

Hartmann, Philipp; Maddaloni, Angela; Manganelli, Simone - 2003

Four years after the introduction of the euro, this paper provides an overview of the current structure and integration of the euro area financial systems and related policy initiatives. We first compare the euro area financial structure with that of the United States and Japan. Using new and...

Persistent link: https://www.econbiz.de/10009635984

International equity flows and returns

Albuquerque, Rui; Bauer, Gregory H.; Schneider, Martin - 2004

This paper considers the role of foreign investors in developed-country equity markets. It presents a quantitative model of trading that is built around two new assumptions: (i) both the foreign and domestic investor populations contain investors of different sophistication, and (ii) investor...

Persistent link: https://www.econbiz.de/10009636533

Diversification in euro area stock markets

Moerman, Gerard - 2004

The harmonisation of fiscal and economic policy within the European Monetary Union (EMU) has had a considerable impact on the economies of member countries in the past decade. In particular, several studies indicate that the proceeding economic integration among euro area countries has important...

Persistent link: https://www.econbiz.de/10009636550

Improving opportunities for initial public offerings on growth stock markets in Europe

Europäische Kommission / Generaldirektion Unternehmen … - 2005

Persistent link: https://www.econbiz.de/10009637605

Optimal dynamic risk sharing when enforcement is a decision variable

Koeppl, Thorsten V. - 2003

decision problem of using self-governance for risk sharing or governance through enforcement provided by these institutions … prevent ﬁrst-best risk sharing, but never optimal to provide incentives exclusively via this technology. Commitment problems …

Persistent link: https://www.econbiz.de/10009635888

Late lessons from early warnings

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

This report is about gathering information on the hazards raised by human economic activities and its use in taking action to protect better the environment and the health of the species and ecosystems that are dependent on it. The study aims to contribute to better and more accessible...

Persistent link: https://www.econbiz.de/10009635974

Späte Lehren aus frühen Warnungen

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

Persistent link: https://www.econbiz.de/10009636105

Signaux précoces et leçons tardives

Gee, David (contributor); Guedes Vaz, Sofia (contributor); … - Europäische Umweltagentur; European Environment Agency - 2002

Persistent link: https://www.econbiz.de/10009636106