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Capital and trade flows in Europe and the impact of enlargement
Buch, Claudia M.; Piazolo, Daniel - 2000
The Eastern enlargement of the European Union (EU) is likely to give a further boost to trade and capital flows, yet … determinants of international asset holdings and trade flows. We find in most regressions that EU membership has a significant … candidates actual values are still far below expected ones in most cases. Consequently, we anticipate rising capital and trade …
Persistent link: https://www.econbiz.de/10011472489
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Balkan and Mediterranean candidates for European Union membership : the convergence of their monetary policy with that of the European Central Bank
Brada, Josef C.; Kutan, Ali Mustafa - 2001
We compare the convergence with German monetary policy of the Balkan and Mediterranean country candidates for EU membership with that of countries that have recently joined the EU. Significant linkages exist between German base money stock and that of recent members of the EU; the same holds...
Persistent link: https://www.econbiz.de/10010518130
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The post-crisis sequencing of economic integration in Asia : trade as a complement to a monetary future
Plummer, Michael G. - 2007
.These accords span the real and financial sectors; rather than following the more typical pattern of "trade first,money later …", recent policy initiatives involve the simultaneous implementation of trade and monetary/financial accords. Given this … sequence, is there a case for monetary union in East Asia? Is there a case for expanded free-trade areas (FTAs) in the region …
Persistent link: https://www.econbiz.de/10011281489
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Quantifying productivity gains from foreign investment
Fons-Rosen, Christian; Kalemli-Ozcan, Sebnem; … - 2013
Persistent link: https://www.econbiz.de/10009756315
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Output smoothing in EMU and OECD : can we forego government contribution? : a risk sharing approach
Marinheiro, Carlos Fonseca - 2003
This paper analyses the smoothing of asymmetric shocks to output for a sample of OECD countries. It also examines whether the private capital markets will be able to replace the government in providing output smoothing in the euro-area, in the near future. The research finds no evidence of large...
Persistent link: https://www.econbiz.de/10011509508
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How do credit supply shocks propagate internationally? : A GVAR approach
Eickmeier, Sandra; Ng, Tim - 2011
period 1983-2009. We experiment with inter-country links that distinguish bilateral trade, portfolio investment, foreign … bilateral trade and inward foreign direct investment or outward banking claim exposures in a GVAR fits the data better than … using trade weights only. We use sign restrictions on the short-run impulse responses to financial shocks that have the …
Persistent link: https://www.econbiz.de/10009389753
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Workers' Remittances : An Overlooked Channel of International Business Cycle Transmission?
Barajas, Adolfo - 2012
This paper shows that remittance flows significantly increase the business cycle synchronization between remittance-recipient countries and the rest of the world. Using both aggregate and bilateral remittances data in a panel data setting, the study demonstrates that this effect is robust and...
Persistent link: https://www.econbiz.de/10013098276
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Time Varying Asian Stock Market Integration
Batten, Jonathan A. - 2013
We employ an asset pricing framework to show that over the last twenty years there has been an increasing degree of integration between Asian and international stock markets, but very little with Japan. This finding is generally consistent with prior studies and highlights the impact of...
Persistent link: https://www.econbiz.de/10013075848
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Quantifying Productivity Gains from Foreign Investment
Fons-Rosen, Christian - 2020
We revisit the relationship between foreign investment and productivity of acquired firms. First, we construct a panel firm-level dataset for eight ad- vanced European countries covering domestic and foreign acquisitions together with detailed balance sheet information for the years 1999–2012....
Persistent link: https://www.econbiz.de/10012857071
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Finance and Synchronization
Cesa-Bianchi, Ambrogio - 2016
In the workhorse model of international real business cycles, financial integration exacerbates the cycle asymmetry created by country-specific supply shocks. The prediction is identical in response to purely common shocks in the same model augmented with simple country heterogeneity (eg, where...
Persistent link: https://www.econbiz.de/10012984164