Showing 1 - 10 of 187
Abstract Der Beitrag analysiert die Hintergründe und Ursachen der weltweiten Finanzkrise und kommt zu dem Ergebnis …
Persistent link: https://www.econbiz.de/10014586322
Abstract We analyze the behavior of foreign banks who sequentially provide credit to finance projects in an emerging market. The foreign banks are exposed to both project-risks and the macro-economic risk of a currency crisis, and there are no bailout guarantees. Nevertheless, we show that it is...
Persistent link: https://www.econbiz.de/10014587474
Summary This paper expands the empirical analysis of hysteresis in trade in two directions. First, it uses disaggregate data for exports from Germany to the U.S. to minimise aggregation problems. Second, it introduces a new non-linear model to test for the non-linear parameter. The model is...
Persistent link: https://www.econbiz.de/10014608628
Summary Diba and Grossman (1987) demonstrated that the conception of a rational bubble as defined by Blanchard and Watson (1982) is impossible. The present paper shows that this impossibility theorem also applies under various imperfections and irrationalities. These are: sticky goods prices,...
Persistent link: https://www.econbiz.de/10014608682
Abstract The dollarization of bank deposits and credit is widespread in developing countries, resulting in varying degrees of currency mismatches in domestic financial intermediation. It is argued that flexible exchange rate regimes generally encourage banks to match dollar-denominated...
Persistent link: https://www.econbiz.de/10014588386
Summary This study aims to determine whether forward discount represents a long memory or short memory process with multiple changes in the mean. Based on the samples of six currencies from November 3, 1986, to March 6, 1998, using Baek and Pipiras’s (2012, 2014) statistical procedures, our...
Persistent link: https://www.econbiz.de/10014609550
Abstract Almost all countries face the problems of trade balance, although they are more inherent in developing countries and economies in transition. A majority of economists adhere to a common opinion that real depreciation may lead to an improvement of trade balance. That said, countries...
Persistent link: https://www.econbiz.de/10014619348
Purpose – The purpose of this paper is to investigate the impacts of Chinese direct investment in Thailand on the Sino-Thai bilateral trade. The economic relationship between Thailand and China has been strengthened through both trade and Chinese direct investment in Thailand for past decades....
Persistent link: https://www.econbiz.de/10014847652
Purpose – The purpose of this paper is to investigate the impact of a menu of country‐pair exchange rate regime combinations upon bilateral foreign direct investment (FDI) flows. Design/methodology/approach – The authors use panel data from 27 OECD and non‐OECD high income countries for...
Persistent link: https://www.econbiz.de/10014863282
Reveals that Ireland has experienced six major changes in exchange rate regimes over the period 1797 to today. Provides a historical perspective on this experience. Indicates that Irish nominal variables have been affected by the exchange rate regime and that membership of exchange rate regimes...
Persistent link: https://www.econbiz.de/10014863500