Showing 1 - 10 of 10,214
Persistent link: https://www.econbiz.de/10011903650
Do exchange rate regimes affect the conditions under which developed countries borrow? This paper argues that they do, but their impact on yields depends on the prevailing macroeconomic context. When investors regard inflation as the most relevant risk to bond holdings, monetary union has a...
Persistent link: https://www.econbiz.de/10013399873
This paper explores whether a state's dual role – wearing these two ‘hats' of a regulator (preacher) and a (practicing) party – has ostensibly demonstrated an inconsistent and imbalanced approach. It asks whether states really practice what they preach. This paper then addresses whether...
Persistent link: https://www.econbiz.de/10012992848
The study concentrates on an analysis of the Czech stock market performed by an application of DCC MV GARCH model of Engle (2002). Data sample including years from 1994 to 2009 is represented by daily returns of Prague Stock Exchange index and other 11 major stock indices. There is found an...
Persistent link: https://www.econbiz.de/10008655628
The paper analyses the transmission of global financial shocks to individual member states of the European Monetary Union (EMU), in which monetary policy is delegated to the ECB and financial markets are fully integrated. Using a panel VAR model, we show that the asymmetric effects of global...
Persistent link: https://www.econbiz.de/10011495568
Königreich oder Japan, wesentlich unterscheiden. Im Ergebnis kann für die Eurozone auf eine Umverteilung zugunsten der …
Persistent link: https://www.econbiz.de/10011741966
This paper empirically investigates the transmission of systemic risk across the Euro Area by employing a Global VAR model. We find that a union aggregate systemic risk shock results in a sharp decline in output, with two thirds of the response to be attributed to cross-country spillovers. The...
Persistent link: https://www.econbiz.de/10012704731
lending. We test the model in the context of the Eurozone sovereign crisis, which escalated in the second half of 2011 and … period dollar lending by Eurozone banks fell relative to their euro lending, and firms who were more reliant on Eurozone … banks before the Eurozone crisis had a more difficult time borrowing …
Persistent link: https://www.econbiz.de/10013036109
We present a two-country model with an enhanced banking sector featuring risky lending and cross-border interbank market frictions. We find that (i) the strength of the financial accelerator, when applied to banks operating under uncertainty in an interbank market, will critically depend on the...
Persistent link: https://www.econbiz.de/10011714705
number of findings regarding the determinants of the volatility of returns on cross-border asset holdings (i.e., equity and … volatility, whereas more financial integration and a greater share held in Organization for Economic Cooperation and Development … countries and by the household sector cause a reduction in the return volatility. Larger asset holdings by offshore financial …
Persistent link: https://www.econbiz.de/10013060986