Showing 1 - 6 of 6
Our goal in this project is to gain a better empirical understanding of the international financial implications of currency movements. To this end, we construct a database of international currency exposures for a large panel of countries over 1990-2004. We show that trade-weighted exchange...
Persistent link: https://www.econbiz.de/10005187435
The paper highlights the increased dispersion in net external positions in recent years, particularly among industrial countries. It provides a simple accounting framework that disentangles the factors driving the accumulation of external assets and liabilities (such as trade imbalances,...
Persistent link: https://www.econbiz.de/10005649993
The founders of the Bretton Woods System sixty years ago were primarily concerned with orderly exchange rate adjustment in a world economy that was characterized by widespread restrictions on international capital mobility. In contrast, the rapid pace of financial globalization during recent...
Persistent link: https://www.econbiz.de/10005518469
This paper investigates both the macro and micro determinants of EU support as expressed in the 2003 referenda on EU membership and the 2002 Candidate Countries Eurobarometer survey data. It is found that favourable individual and regional characteristics, i.e., the “winners” of the...
Persistent link: https://www.econbiz.de/10005518480
Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world mean that it will still be affected by a shift in the current configuration of external deficits and surpluses. We assess the...
Persistent link: https://www.econbiz.de/10005518493
This paper addresses the implications of financial globalization for exchange rate behavior. We highlight two dimensions: first, a wider dispersion in net foreign asset positions implies stronger long-term trends in real exchange rates; second, the impact of currency movements on net external...
Persistent link: https://www.econbiz.de/10005121247