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International Consumption Risk Sharing with Incomplete Goods and Asset Markets
Blank, Sven - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
Perfect consumption risk sharing requires both, frictionless goods as well as frictionless financial market integration …. This project aims at analyzing the consequences of both type of frictions for the allocation of risk across countries in a … consumption risk sharing depending on the nature of the underlying shock. …
Persistent link: https://www.econbiz.de/10005069153
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International Consumption Risk Sharing with Incomplete Goods and Asset Markets
Blank, Sven - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
Perfect consumption risk sharing requires both, frictionless goods as well as frictionless financial market integration …. This project aims at analyzing the consequences of both type of frictions for the allocation of risk across countries in a … consumption risk sharing depending on the nature of the underlying shock. …
Persistent link: https://www.econbiz.de/10010896120
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International Consumption Risk Sharing and Monetary Policy
Blank, Sven - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
This project aims at analyzing the impact of monetary policy on the international allocation of risk in a two …. Preliminary results show that there may be substantial deviations from efficient consumption risk sharing in the presence of …
Persistent link: https://www.econbiz.de/10010661283
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International Consumption Risk Sharing and Monetary Policy
Blank, Sven - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009
This project aims at analyzing the impact of monetary policy on the international allocation of risk in a two …. Preliminary results show that there may be substantial deviations from efficient consumption risk sharing in the presence of …
Persistent link: https://www.econbiz.de/10010896119
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Sovereigns versus Banks: Credit, Crises, and Consequences
Jorda, Oscar; Taylor, Alan M.; Schularick, Moritz HP. - National Bureau of Economic Research (NBER) - 2013
Two separate narratives have emerged in the wake of the Global Financial Crisis. One interpretation speaks of private financial excess and the key role of the banking system in leveraging and deleveraging the economy. The other emphasizes the public sector balance sheet over the private and...
Persistent link: https://www.econbiz.de/10010969435
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Asian Monetary Integration: A Japanese Perspective
Kawai, Masahiro - Asian Development Bank Institute, Asian Development Bank - 2014
This paper discusses Japan's strategy for Asian monetary integration. It argues that Japan faces three major policy challenges when promoting intraregional exchange rate stability. First, there must be some convergence of exchange rate regimes in East Asia, and the most realistic option is for...
Persistent link: https://www.econbiz.de/10010991108
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The Financial Role of East Asian Economies in Global Imbalances: An Econometric Assessment of Developments after the Global Financial Crisis
Lee, Hyun-Hoon; PARK, DONGHYUN - Office of Regional Economic Integration, Asian … - 2013
The central objective of this paper is to empirically assess how global imbalances have evolved since the global financial crisis of 2008/09. More specifically, we examine how the security investment positions of major East Asian economies in United States (US) financial markets—equities,...
Persistent link: https://www.econbiz.de/10010992321
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The Blind Men and the Elephant
Eichengreen, Barry - In: Ensayos Económicos 1 (2009) 53-54, pp. 25-57
high risk aversion after the 1997-1998 crisis and an ongoing commitment with export-led growth), a position sustained …
Persistent link: https://www.econbiz.de/10010849641
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Euro Crises and Euro Scams: Trade not Debt and Deficits Tell the Tale
Weeks, John - In: Ensayos Económicos 1 (2013) 69, pp. 7-36
The euro crisis was typically presented as excessive fiscal deficits leading to the accumulation of unsustainable public debts. This diagnosis applied most notably in Greece and Italy, but also Portugal and Spain. Implicit in much of the analysis, and occasionally explicit, was the suggestion...
Persistent link: https://www.econbiz.de/10010849649
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Welfare Reversal in Monetary Union
Auray, Stéphane; Eyquem, Aurélien - Centre de Recherche en Économie et Statistique … - 2012
-best environment in which the structure of financial markets shapes the extent of risk-sharing but also the welfare costs of nominal …
Persistent link: https://www.econbiz.de/10010857721