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We study international business cycles and capital flows in the UK, the United States and the Emerging Periphery in the period 1885-1939. Based on the same set of parameters, our model explains current account dynamics under both the Classical Gold Standard and during the Interwar period. We...
Persistent link: https://www.econbiz.de/10009741030
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An often heard view is that exchange rate variability will decrease for a country that joins the EMU. This is not necessarily true. Both real and nominal exchange rate variability increase under certain circumstances when asymmetric demand shocks occur inside or outside the union. These results...
Persistent link: https://www.econbiz.de/10011589019
We study international business cycles and capital flows in the UK, the United States and the Emerging Periphery in the period 1885-1939. Based on the same set of parameters, our model explains current account dynamics under both the Classical Gold Standard and during the Interwar period. We...
Persistent link: https://www.econbiz.de/10010316919
Within a two step GARCH framework we estimate the time-varying spillover effects from European and US return innovations to 10 economic sectors within the euro area, the United States, and the United Kingdom. We use daily data from January 1988 - March 2002. At the beginning of our sample...
Persistent link: https://www.econbiz.de/10009767119
's vulnerability to asymmetric shocks. Greece's decision to remain enhances the prospects for Eurozone reform …
Persistent link: https://www.econbiz.de/10012849282
citizens. The eurozone showcases the achievement of its deeper monetary integration. This paper aims at addressing the … deepened monetary integration through the creation of the eurozone? What are the shortcomings in the agreement on the Economic … and Monetary Union? What are the current crises facing the EU, and the eurozone in particular? Are there legal obstacles …
Persistent link: https://www.econbiz.de/10014187307
’s vulnerability to asymmetric shocks. Greece’s decision to remain enhances the prospects for Eurozone reform. …
Persistent link: https://www.econbiz.de/10012176229
The introduction of the Euro has been accompanied by the hope that intra-EMU trade would increase and that prices would converge due to increased elasticities of international substitution. This paper contributes to the literature on the Euro’s effects on international trade by analyzing price...
Persistent link: https://www.econbiz.de/10009384450