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International risk sharing with endogenously Ssegmented asset markets

Cociuba, Simona E.; Ramanarayanan, Ananth - 2017

Asset price data imply a large degree of international risk sharing, while aggregate consumption data do not. We …. Active households pay a fixed cost to transfer income into or out of assets. These households share risk within and across … countries, and their marginal utility growth prices assets, so asset prices imply high international risk sharing. Inactive …

Persistent link: https://www.econbiz.de/10011763742

The real consequences of financial market integration when countries are heterogeneous

Gerling, Kerstin - 2008

Persistent link: https://www.econbiz.de/10003720129

Medium and long term implications of financial integration without financial development

Corneli, Flavia - 2017

Persistent link: https://www.econbiz.de/10011949653

International financial integration, policies, and institutions

Volosovych, Vadym - 2006

Persistent link: https://www.econbiz.de/10003908327

A possible explanation of the 'exchange rate disconnect puzzle' : a common solution to three major macroeconomic puzzles?

Horioka, Charles; Ford, Nicholas - 2016

Meese and Rogoff (1983) and subsequent studies find that economic fundamentals are apparently not able to explain exchange rate movements, but we argue that this so-called "Exchange Rate Disconnect Puzzle" arose because researchers such as Meese and Rogoff (1983) did not use the right...

Persistent link: https://www.econbiz.de/10011502367

The 'real' explanation of the PPP puzzle

Ford, Nicholas; Horioka, Charles - 2016

This article shows that global financial markets cannot, by themselves, achieve net transfers of financial capital and real interest rate equalisation across countries and that the integration of both global financial markets and global goods markets is needed to achieve net transfers of capital...

Persistent link: https://www.econbiz.de/10011454078

Quantitative easing, bond risk premia and the exchange rate in a small open economy

Christensen, Jens H. E.; Zhang, Xin - 2024

Riksbank and the European Central Bank (ECB) on bond risk premia in the Swedish government bond market. Using a novel arbitrage … inflation risk premia, and increased nominal bond safety premia, suggestive of signaling, portfolio rebalance, and safe asset …

Persistent link: https://www.econbiz.de/10014517711

Labor market frictions, investment and capital flows

Struck, Clemens C. - 2017

The standard neoclassical model predicts that countries with higher productivity growth rates experience sharp increases in investment that are followed by rapid declines. This investment response contrasts with the empirical evidence that suggests a rather hump-shaped investment behavior. In...

Persistent link: https://www.econbiz.de/10011774727

Cross-border banking and transmission mechanisms : the case of Europe

Buch, Claudia M. - 2001

International activities of commercial banks are a potential source for the transmission of shocks across countries. In Europe, bank finance plays a relatively important role, and efforts have been made at creating a level playing field for financial institutions. This paper reviews the stylized...

Persistent link: https://www.econbiz.de/10011476387

International spillovers in global asset markets

Belke, Ansgar; Dubova, Irina - 2017

The paper empirically estimates the financial transmission between bond and equity markets within and across the four largest global financial markets - the United States, the Euro area, Japan, and the United Kingdom. We argue that international bond and equity markets are highly connected both...

Persistent link: https://www.econbiz.de/10011657650