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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

International Consumption Risk Sharing with Incomplete Goods and Asset Markets

Blank, Sven - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

Persistent link: https://www.econbiz.de/10005069153

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

International Consumption Risk Sharing and Monetary Policy

Blank, Sven - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2009

Persistent link: https://www.econbiz.de/10010661283

Global imbalances, the US dollar, and how the crisis at the core of global finance spread to "self-insuring" emerging market economies

Bibow, Jörg - In: European Journal of Economics and Economic Policies: … 7 (2010) 2, pp. 325-359

This paper investigates the spread of what started as a crisis at the core of the global financial system to emerging economies. While emerging economies had exhibited some resilience through the early stages of the financial turmoil that began in the summer of 2007, they have been hit hard...

Persistent link: https://www.econbiz.de/10011133393

On International Policy Coordination and the Correction of Global Imbalances

Albuquerque, Bruno; Manteu, Cristina - Banco de Portugal - 2012

Global current account imbalances are generally seen as a threat to world growth. Given that they are projected to remain high, in an environment of prevailing downside risks, what could be done to reduce these imbalances? Using NiGEM, a large-scale multi-country model, we build up a global...

Persistent link: https://www.econbiz.de/10011162080

Tapering Talk: The Impact of Expectations of Reduced Federal Reserve Security Purchases on Emerging Markets

Eichengreen, Barry; Gupta, Poonam - Volkswirtschaftliche Fakultät, … - 2014

In May 2013, Federal Reserve officials first began to talk of the possibility of tapering their security purchases. This tapering talk had a sharp negative impact on emerging markets. Different countries, however, were affected differently. We use data for exchange rates, foreign reserves and...

Persistent link: https://www.econbiz.de/10011258768

Policy transmissions, external imbalances, and their impacts: Cross-country evidence from BRICS

YUAN, Chunming; CHEN, Ruo - In: China Economic Review 33 (2015) C, pp. 1-24

This paper provides an empirical exploration of the interaction between fiscal policy, monetary policy, exchange rates, and external balances as well as their impacts on real economic growth and inflation for the BRICS countries. A panel VAR model is employed to assess the dynamic relationships....

Persistent link: https://www.econbiz.de/10011264663

What Drives Capital Flows to Emerging Markets? A Survey of the Empirical Literature

Koepke, Robin - Volkswirtschaftliche Fakultät, … - 2015

This paper reviews the rapidly growing empirical literature on the drivers of capital flows to emerging markets. The empirical evidence is structured based on the recognition that the drivers of capital flows vary over time and across different types of capital flows. The drivers are classified...

Persistent link: https://www.econbiz.de/10011266125

International Liquidity and Exchange Rate Dynamics

Gabaix, Xavier; Maggiori, Matteo - C.E.P.R. Discussion Papers - 2014

We provide a theory of the determination of exchange rates based on capital flows in imperfect financial markets … their required compensation for holding currency risk, thus impacting both the level and volatility of exchange rates. Our … theory of exchange rate determination in imperfect financial markets not only rationalizes the empirical disconnect between …

Persistent link: https://www.econbiz.de/10011083240