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Emerging from the war : gold standard mentality, current accounts and the international business cycle 1885 - 1939
Hoffmann, Mathias; Woitek, Ulrich - 2011 - This version: December 2011
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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Corporate Basis and the International Role of The U.S. Dollar
Shi, Zhan; Viswanath-Natraj, Ganesh; Wang, Junxuan - 2022
The corporate basis measures the pricing difference between dollar and foreign currency bonds issued by the same corporate entity. In this paper, we decompose the basis into a risky asset yield spread, a safe asset convenience yield, and FX hedging costs with the covered interest rate parity...
Persistent link: https://www.econbiz.de/10013406185
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Capital flows and the US ‘New Economy’: consumption smoothing and risk exposure
Miller, Marcus; Castrén, Olli; Zhang, Lei - 2005
experiencing a favourable supply side shock consumes more against expected future output and spreads the risk by selling shares …
Persistent link: https://www.econbiz.de/10011604505
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Capital liberalization and the US external imbalance
Prades, Elvira; Rabitsch, Katrin - 2009
consumption risk relative to the rest of the world, and therefore decreases its motives for precautionary asset holdings relative … the presence of borrowing and lending constraints on that bond. In a US versus the rest of the world (RoW) scenario, we … to the rest of the world. As a result of these asymmetric shifts in countries’ barriers to capital mobility, the US runs …
Persistent link: https://www.econbiz.de/10003919579
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Frequency aspects of information transmission in a network of three Western equity markets
Schmidbauer, Harald; Rösch, Angi; Uluceviz, Erhan - 2016
Cycles in the behavior of stock markets have been widely documented. There is an increasing body of literature on whether stock markets anticipate business cycles or its turning points. Several recent studies assert that financial integration impacts positively on business cycle comovements of...
Persistent link: https://www.econbiz.de/10011609909
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Essays in international macroeconomics
Scholl, Almuth - 2006
Persistent link: https://www.econbiz.de/10003315521
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Transatlantic monetary and fiscal policy interaction
Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003
This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...
Persistent link: https://www.econbiz.de/10011509484
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International capital flows and speculation
Hayward, Rob; Gregoriou, Andros - In: Journal of risk and financial management : JRFM 14 (2021) 5, pp. 1-12
In response to questions about the relative importance of different types of capital flow for international competitiveness, we develop a structural vector auto-regressive model of the real exchange rate and international capital flows. We reveal that innovations to speculative sentiment cause...
Persistent link: https://www.econbiz.de/10012533969
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Emerging from the war: Gold standard mentality, current accounts and the international business cycle 1885-1939
Hoffmann, Mathias; Woitek, Ulrich - 2011
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
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Portfolio Capital Flows and the US Dollar Exchange Rate : Viewed from the Lens of Time and Frequency Dynamics of Connectedness
Mangal Goswami; Pontines, Victor; Yassier Mohammed - 2023
Using high-frequency, proprietary data on daily net non-resident portfolio flows to emerging markets, our study finds in the time domain connectedness framework that, to varying degrees, there is less interconnectedness in non-resident debt and equity portfolio flows to our sample of emerging...
Persistent link: https://www.econbiz.de/10014256797