Die internationale Verflechtung der Finanzmärkte führt dazu, dass der Ausfall von Krediten in einem Land auch von Geldgebern in anderen Ländern getragen werden muss. Bei einer konsequenten Anwendung des Prinzips der Gläubigerhaftung würde der Vermögensverlust von dem unmittelbar...

The increasing integration of international financial markets means that credit defaults in one country have to be covered by creditors in other countries. If the principle of creditor liability were applied systematically, the financial losses incurred by the financial institution that provided...

Policy makers in "small" countries facing trade liberalisation have become concerned with the potential loss of manufacturing employment and output to "large" economies in the presence of economies of scale in production and international transport costs. This paper offers a methodology to...

This study analyzes the stability of the distance coefficient values over time in the generalized gravity equation of Bergstrand (1989) using both aggregate and disaggregated trade flows among 22 OECD countries recorded for the sample period covering 1970 until 2000. We estimate the gravity...