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In der Euro-Krise gingen starke Änderungen in internationalen Kapitalflüssen mit großer makroökonomischer Unsicherheit einher. Zwar ist es offensichtlich, dass beide Faktoren ökonomische Schocks auslösen bzw. verstärken können, es ist aber derzeit unklar, inwiefern sie direkt miteinander...
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idiosyncratic entrepreneurial risk-- a risk that introduces, not only a precautionary motive for saving, but also a wedge between …
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flows. We find that country-specific risk factors seem to play a more important role than global risk factors. Moreover …
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idiosyncratic entrepreneurial risk-- a risk that introduces, not only a precautionary motive for saving, but also a wedge between …
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idiosyncratic entrepreneurial risk - a risk that introduces, not only a precautionary motive for saving, but also a wedge between …
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, using local projections, the paper zooms in on shocks originating in the United States, Europe, and China. Our results …, Europe, and China reduces economic activity in the rest of the world, with the effects being mostly felt in Europe and the …
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