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International Financial Crises
Dornbusch, Rudiger; Fischer, Stanley - 2003
Our friend and colleague Rüdiger Dornbusch passed away before he was able tocomplete his book based on the Munich Lectures in Economics that he gave inNovember 17, 1998, at the Center for Economic Studies of Ludwig-Maximilians-Universität.The lectures contain a fascinating overview of the...
Persistent link: https://www.econbiz.de/10011507825
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The determinants of China's international portfolio equity allocations
Agarwal, Isha; Gu, Grace Weishi; Prasad, Eswar S. - 2020
We analyze shifts in the structure of China's capital outflows over the past decade. The composition of gross outflows has shifted from accumulation of foreign exchange reserves by the central bank to nonofficial outflows. Unlocking the enormous pool of domestic savings could have a significant...
Persistent link: https://www.econbiz.de/10012178659
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International Finance in General Equilibrium
Geanakoplos, John; Tsomocos, Dimitrios P. - 2005
Our purpose in this paper is to unify international trade and finance in a single general equilibrium model. Our model is rich enough to include multiple commodities (including traded and nontraded goods), heterogeneous consumers in each country, multiple time periods, multiple credit markets,...
Persistent link: https://www.econbiz.de/10014126876
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Dollar Reserves and U.S. Yields : Identifying the Price Impact of Official Flows
Ahmed, Rashad; Rebucci, Alessandro - National Bureau of Economic Research - 2022
This paper shows that the price impact of foreign official (FO) purchases or sales of U.S. Treasuries (USTs) is about twice as large as previously reported in the literature once critical sources of endogeneity are addressed. We also show that prevailing estimates of this price impact suffer...
Persistent link: https://www.econbiz.de/10013388832
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Barriers to global capital allocation
Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2024
Observed international investment positions and cross-country heterogeneity in rates of return to capital are hard to reconcile with frictionless capital markets. In this paper, we develop a theory of international capital allocation: a multi-country dynamic spatial general equilibrium model in...
Persistent link: https://www.econbiz.de/10015070015
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Labor migration: Macroeconomic and demographic outlook for Europe and neighbourhood regions
Borgy, Vladimir; Chojnicki, Xavier - 2008
of this multi-regions model allows us to put into connection migration with the "triangular" relationship between … demographic and economic consequences of migration ows on both the regions receiving and losing migrants. Our analysis is based on … a very detailed migration scenario between Western Europe and the Neighborhood regions constructed by taking into …
Persistent link: https://www.econbiz.de/10011430802
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Financial integration in asset and liability holdings in East Asia
Park, Donghyun; Shin, Kwanho - 2015
In this paper, we examine the evolution of intra-East Asian financial integration from 2001 to 2013. Most existing studies on this topic look primarily at asset holdings; we examine liability holdings as well. Using the International Monetary Fund's Coordinated Portfolio Investment Survey data...
Persistent link: https://www.econbiz.de/10011317818
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Financial integration in asset and liability holdings in east Asia
Park, Donghyun; Shin, Kwanho - In: Emerging markets finance & trade : a journal of the … 52 (2016) 1/3, pp. 539-556
Persistent link: https://www.econbiz.de/10011562519
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On the Main Challenge of the Current Global Financial and Economic Crisis
Papava, Vladimer - 2012
The contemporary financial crisis has transformed into economic crisis. The occurrence of financial crises has encouraged the emergence of a kind of routine which guarantees the stability of a government's bailout programmes implemented through the banking sector in support of de-facto bankrupt...
Persistent link: https://www.econbiz.de/10013097185
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Global bond portfolios and EMU
Lane, Philip R. - 2005
We examine the bilateral composition of international bond portfolios for the euro area and the individual EMU member countries. We find considerable support for “euro area bias”: EMU member countries disproportionately invest in one another relative to other country pairs. Another striking...
Persistent link: https://www.econbiz.de/10011604599