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Prospects for global current account rebalancing
Beaton, Kimberly; De Resende, Carlos; Lalonde, René; … - 2010
The authors use the Bank of Canada's version of the Global Economy Model, a multi-country, multi-sector dynamic stochastic general-equilibrium model with an active banking system (the BoC-GEM-FIN), to study the evolution of global current account balances following the recent global financial...
Persistent link: https://www.econbiz.de/10003981363
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Inter-temporal savings, current account dynamics and asymmetric shocks in a heterogeneous European Monetary Union
Schnabl, Gunther; Zemanek, Holger - 2010
theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the … round of monetary expansion in the EMU. -- monetary union ; German unification ; asymmetric shock ; current account … imbalances ; inter-temporal savings ; financial crisis ; euro crisis ; European debt crisis ; theory of optimum currency areas …
Persistent link: https://www.econbiz.de/10008798227
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Inter-Temporal Savings, Current Account Dynamics and Asymmetric Shocks in a Heterogeneous European Monetary Union
Schnabl, Gunther - 2013
theory of optimum currency areas. We show that the asymmetric shock of the German unification can be seen not only as the …
Persistent link: https://www.econbiz.de/10013094029
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Global liquidity, world savings glut and global policy coordination
Belke, Ansgar; Gros, Daniel - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10003934687
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Global Liquidity, World Savings Glut and Global Policy Coordination
Belke, Ansgar Hubertus - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10013144334
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Monetary and Fiscal Policies in a Sudden Stop : Is Tighter Brighter?
Ortiz, Alberto - 2012
In this paper we ask whether tighter monetary and fiscal policies are the right way to face a sudden stop (a sudden curtailment in capital flows) in a typical emerging economy. We develop exogenous measures of fiscal and monetary policy response and conclude that tighter policies are associated...
Persistent link: https://www.econbiz.de/10013104754
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FDI Flows and Sudden Stops in Small Open Economies
Villalvazo, Sergio - 2020
Balance of payment crises, characterized by Sudden Stops, are not a phenomenon exclusive to emerging economies. This paper identifies 16 and 50 crises in advanced and emerging economies, respectively. Further, decomposing the Financial Account uncovers important differences between both groups...
Persistent link: https://www.econbiz.de/10012839097
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Sudden stop regimes and output : a Markov switching analysis
Bachmann, Andreas; Leist, Stefan - 2013
is robust across different estimation methods. Moreover, the Markov switching VAR also indicates that the reaction of … macroeconomic variables to the identified shock based on sign restrictions is regime dependent. …
Persistent link: https://www.econbiz.de/10010199563
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Contagion : How to Measure it?
Rigobon, Roberto - 2001
The empirical literature on contagion has mainly measured the propagation of shocks across countries using daily stock markets, interest rates, and exchange rates. Several methodologies have been used for this purpose, however, the properties of the data introduces important limitations on the...
Persistent link: https://www.econbiz.de/10014036215
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External shocks and banking crises in developing countries : does the exchange rate regime matter?
Mendis, Chandima - 2002
This paper examines some determinants of banking crises in developing economies. Specifically, the effects of terms of trade shocks and capital flows are analyzed. The choice of the nominal exchange rate regime is found to be a crucial factor in the way various shocks are transmitted through the...
Persistent link: https://www.econbiz.de/10001688776