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This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...
Persistent link: https://www.econbiz.de/10003983276
This paper extends our previous paper (Aizenman, Chinn, and Ito 2008) and explores some of the unexplored questions. First, we examine the channels through which the trilemma policy configurations affect output volatility. Secondly, we investigate how trilemma policy configurations affect the...
Persistent link: https://www.econbiz.de/10013144649
In this paper, I analyze the impact of the extension of the ECB s collateral framework on securities sales. In addition, I evaluate the impact of different macroeconomic and bank-specific characteristics on banks selling behavior. At this, I distinguish between healthy banks and banks rescued...
Persistent link: https://www.econbiz.de/10010487738
period (2004-07)? (ii) have the western regions ('old' EU states) behaved differently in response to the crisis compared with …
Persistent link: https://www.econbiz.de/10011735143
In the current debate on the reasons and implications of the Greek and Irish euro crisis, the intra-European current account imbalances have gained rising attention. Whereas Greece and Ireland struggle for austerity in private and public spending, Germany is urged to reduce its current account...
Persistent link: https://www.econbiz.de/10008798227
Die internationale Finanz- und Wirtschaftskrise beeinflusste das Spannungsverhältnis zwischen Solidarität und Wettbewerb in der Europäischen Union in zweierlei Hinsicht. Zum einen drängten die Regierungen der europäischen Mitgliedstaaten darauf, ihre notleidenden Banken (aber auch...
Persistent link: https://www.econbiz.de/10008822576
The financial crisis in Europe has resulted in a new assessment of monetary and financial integration both in Europe and in Asia. Before the current crisis, regional integration in monetary and fiscal affairs including mechanisms to stabilize exchange rates enjoyed a lot of academic and...
Persistent link: https://www.econbiz.de/10010367480
Along time the European Union (EU) has been pointed as the most succeeded example of regional integration. Now, this … solution, and the recurrent EU proclamations of "policies to restore European growth", the crisis in the EZ looks more and more … credibility of the EU integration process and will inevitably impact on the spreading of the integration model to other regions of …
Persistent link: https://www.econbiz.de/10011515832
This paper examines the evolution of the EU’s trade in services over the 2004-2008 period in comparison with its trade … in goods. It aims to disentangle the main trends shaping the EU’s services trade flows under the impact of increasing … globalisation and the last two waves of EU enlargement. Relying on BoP trade statistics published by Eurostat and the WTO, it …
Persistent link: https://www.econbiz.de/10008757373
In this paper we take a systematic look at recent trends in global protectionism and at the potential implications of a protectionist backlash for economic growth, using results from the recent economic literature and new model simulations. We find that there has so far been a moderate increase...
Persistent link: https://www.econbiz.de/10013129992