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The euro crisis and economic growth : a novel counterfactual approach
Terzi, Alessio - 2019 - This Draft: 25 June 2019
Macroeconomic adjustment in the euro area periphery was more recessionary than pre-crisis imbalances would have …
Persistent link: https://www.econbiz.de/10012033212
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Financial cycles in Europe : dynamics, synchronicity and implications for business cycles and macroeconomic imbalances
Adarov, Amat - 2019
the period 1960Q1–2015Q4 capturing imbalances across credit, housing, bond and equity markets. The paper documents the … VAR models to assess interactions between external and internal macroeconomic imbalances suggest that financial cycles are … an important driver of business cycles and public debt dynamics, with much stronger shock transmission observed in the …
Persistent link: https://www.econbiz.de/10012153925
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Exchange Rate Risk and Convergence to the Euro
Orlowski, Lucjan T. - 2005
This paper proposes a new monetary policy framework for effectively navigating the path to adopting the euro. The … volatility to differentials over the euro zone in both inflation (target variable) and interest rate (instrument variable) is …
Persistent link: https://www.econbiz.de/10014066924
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Capital importers pay more for their imports
Adam, Antonis; Moutos, Thomas - 2012
imports of goods. Using data from 2000 to 2009 for 11 euro area countries we utilize a pricing-to-market specification to … ; globalization ; euro area …
Persistent link: https://www.econbiz.de/10009488891
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Can International Productivity Differences Explain U.S. Current Account Deficits?
Chakraborty, Suparna - 2008
An influential explanation for the recent rise in the U.S. current account deficit is the boom in U.S. productivity. As U.S. productivity surged in the mid-1990s, capital was attracted to the U.S. to take advantage of the higher real returns. Using a two country general equilibrium model, this...
Persistent link: https://www.econbiz.de/10012724898
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Financial Liberalization and Business Cycles : The Experience of Countries in the Baltics and Central Eastern Europe
Vinhas de Souza, Lucio Vinhas - 2016
Persistent link: https://www.econbiz.de/10012991348
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The valuation effects of trade
Barbiero, Omar - 2021 - This version: September 2021
This paper estimates the cash flow and real effects of currency mismatches generated by foreign-priced operations of French manufacturers. The value of transactions invoiced in foreign currencies is twice as sensitive to exchange rates as the value of transactions invoiced in the domestic...
Persistent link: https://www.econbiz.de/10012705025
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Financial Liberalization and Business Cycles : The Experience of New EU Member States in the Baltics and Central Eastern Europe
Vinhas de Souza, Lucio Vinhas - 2004
This paper extends the work of Kaminsky and Schmukler (2003) to the Baltic and Central Eastern European new Member States of the European Union, to test if the same short-run increase in cyclical volatility arising from financial integration is observed in this specific sample of "emerging...
Persistent link: https://www.econbiz.de/10014072529
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The influence of global financial liquidity on the Indonesian economy : dynamic analysis with threshold VAR
Ekananda, Mahjus; Suryanto, Tulus - In: Economies : open access journal 9 (2021) 4, pp. 1-20
Empirical studies of the global liquidity spillover on Indonesia's economy are still relatively limited. Most of the global contagion literature on Indonesia's economy focuses only on the effects of real shock (on output) due to financial shock. We assert that the effect of global output on...
Persistent link: https://www.econbiz.de/10012799838
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The determinants of cross-border bank flows to emerging markets : new empirical evidence on the spread of financial crises
Herrmann, Sabine; Mihaljek, Dubravko - 2010
This paper studies the nature of spillover effects in bank lending flows from advanced to the emerging market economies and identifies specific channels through which such effects occur. Based on a gravity model we examine a panel data set on cross-border bank flows from 17 advanced to 28...
Persistent link: https://www.econbiz.de/10008653395