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Cross-border banking in regulated markets : is financial integration desirable?
Haufler, Andreas; Wooton, Ian - 2016
We set up a two-country, regional model of trade in financial services. Competitive firms in each country manufacture untraded consumer goods in an uncertain productive environment, borrowing funds from a bank in either the home or the foreign market. Duopolistic banks can choose their levels of...
Persistent link: https://www.econbiz.de/10011554376
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Capital market integration in Euroland : the role of banks
Buch, Claudia M. - 1999
The introduction of the euro marks a milestone in the process of European financial market integration. This paper … analyzes the implications of the euro for cross-border banking activities. A portfolio model is used which captures the role of … banks as providers of informational and of risk-diversification services. By eliminating exchange rate risks, the euro …
Persistent link: https://www.econbiz.de/10011475635
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European Financial Integration and Emu Expectations
Bender, Dieter; Lamar, Norbert - 1998
With the lifting of remaining capital controls inside the EU in 1990, an essential step towards EMU was taken. This raises the questions of whether on the one hand there is an observable convergence of interest rates inside the EU and on the other if alongside this financial integration, EMU...
Persistent link: https://www.econbiz.de/10014062762
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Monetary union and financial integration
Fornaro, Luca - 2019
Persistent link: https://www.econbiz.de/10012211274
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The Integration of Imperfect Financial Markets : Implications for Business Cycle Volatility
Buch, Claudia M.; Pierdzioch, Christian - 2004
During the last two decades, the degree of openness of national financial systems has increased substantially. At the same time, asymmetries in information and other financial market frictions have remain prevalent. We study both empirically and theoretically the implications of the opening up...
Persistent link: https://www.econbiz.de/10014072512
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Risk sharing by financial markets in federal systems : what do we really measure?
Dullien, Sebastian - 2017
This paper criticises the standard methodology used to measure the importance of different channels of risk sharing in federal states such as the one used in Asdrubali et al.'s (1996) seminal contribution. It argues that the methodology chosen in these papers systematically underestimates the...
Persistent link: https://www.econbiz.de/10011919725
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The Role of Systemic Risk Spillovers in the Transmission of Euro Area Monetary Policy
Skouralis, Alexandros - 2021
This paper empirically investigates the transmission of systemic risk across the Euro Area by employing a Global VAR …
Persistent link: https://www.econbiz.de/10013310753
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The Real Conequences of Financial Market Integration When Countries are Heterogeneous
Gerling, Kerstin - 2010
This paper studies the mechanisms through which financial integration affects the pattern of international capital flows and the domestic economic performances when explicitly accounting for wealth inequality on imperfect capital markets. Balancing the impact of a firm size and a credit...
Persistent link: https://www.econbiz.de/10013136269
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Monetary union and financial integration
Fornaro, Luca - 2019
Persistent link: https://www.econbiz.de/10012197209
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Monetary union and financial integration
Fornaro, Luca - 2019 - Updated version
Persistent link: https://www.econbiz.de/10012175760