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The Euro Crisis and Economic Growth : A Novel Counterfactual Approach
Terzi, Alessio - 2019
warranted. To make this claim, this paper uses a Propensity Score Matching Model to produce counterfactuals for the Eurozone … crisis countries (Greece, Portugal, Ireland, Cyprus, Spain) based on over 200 past macroeconomic adjustment episodes between … more in the Eurozone periphery than in the standard counterfactual scenario. These results are not dictated by any specific …
Persistent link: https://www.econbiz.de/10012866042
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The macroeconomic effects of large exchange rate appreciations
Kappler, Marcus; Reisen, Helmut; Schularick, Moritz; … - 2011
In this paper we study the macroeconomic effects of large exchange rate appreciations. Using a sample of 128 countries from 1960-2008, we identify large nominal and real appreciations shocks and study their macroeconomic effects in a dummy-augmented panel autoregressive model. Our results show...
Persistent link: https://www.econbiz.de/10008901831
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The macroeconomic effects of large exchange rate appreciations
Kappler, Marcus; Reisen, Helmut; Schularick, Moritz; … - 2011
In this paper we study the macroeconomic effects of large exchange rate appreciations. Using a sample of 128 countries from 1960-2008, we identify large nominal and real appreciations shocks and study their macroeconomic effects in a dummy-augmented panel autoregressive model. Our results show...
Persistent link: https://www.econbiz.de/10008905965
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The macroeconomic effects of large exchange rate appreciations
Kappler, Marcus; Reisen, Helmut; Schularick, Moritz; … - 2012
In this paper we study the macroeconomic aftermath of large exchange rate appreciations. Using a sample of 128 countries over the period 1960-2008, we identify 25 episodes of large nominal and real appreciations shocks. We use narrative identification of exogenous appreciation episodes and study...
Persistent link: https://www.econbiz.de/10011402350
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The Macroeconomic Effects of Large Exchange Rate Appreciations
Kappler, Marcus - 2011
In this paper we study the macroeconomic effects of large exchange rate appreciations. Using a sample of 128 countries from 1960-2008, we identify large nominal and real appreciations shocks and study their macroeconomic effects in a dummy-augmented panel autoregressive model. Our results show...
Persistent link: https://www.econbiz.de/10013128677
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Global and Local Currency Effects on Euro Area Investment in Emerging Market Bonds
Adriaan Boermans, Martijn - 2020
We analyze how global and local factors affect portfolio allocation by euro area investors in emerging markets at the bond-level. First, cross-sectional analysis reveals a strong preference for home (Euro) currency bonds. Second, panel regressions, whether at the bond or aggregate flows level,...
Persistent link: https://www.econbiz.de/10012839247
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International Sanctions and Dollar Dominance
Bianchi, Javier; Sosa Padilla, César - National Bureau of Economic Research - 2023
This paper investigates the implications of international financial sanctions for the reserve currency status of the US dollar. We propose a simple model of a reserve currency, demonstrate how the anticipation of financial sanctions can weaken the dollar's status, and evaluate the welfare...
Persistent link: https://www.econbiz.de/10014247945
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Global imbalances and the current account adjustment process : an empirical analysis
Tippkötter, Marius - 2010
, the author performs a dynamic panel estimation using a System GMM estimator fully developed in Blundell and Bond (1998 …
Persistent link: https://www.econbiz.de/10003974473
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Effective exchange rates, current accounts and global imbalances
Beckmann, Joscha; Czudaj, Robert - 2016
This study analyzes the dynamics between real effective exchange rates and current accounts from a novel perspective. We start by dissecting long-run and time-varying short-run dynamics as well as causalities between both variables. Following this, we extend our framework by including short-term...
Persistent link: https://www.econbiz.de/10011440876
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International portfolio flows and exchange rate volatility for emerging markets
Caporale, Guglielmo Maria; Ali, Faek Menla; Spagnolo, Fabio - 2015
This paper investigates the effects of equity and bond portfolio inflows on exchange rate volatility, using monthly bilateral data for the US vis-a-vis eight Asian developing and emerging countries (India, Indonesia, South Korea, Pakistan, Hong Kong, Thailand, the Philippines, and Taiwan) over...
Persistent link: https://www.econbiz.de/10011382694