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The Costs/Benefits of a Common Monetary Policy in France and Germany and Possible Lessons for Monetary Union
Melitz, Jacques; Weber, Axel A - C.E.P.R. Discussion Papers - 1996
In order to study the costs/benefits of a monetary union between Germany and France, we attempt to go beyond a mere focus on asymmetries and examine what each country would have lost or gained had there been a common monetary policy. We try to identify the macroeconomic effects of such a change...
Persistent link: https://www.econbiz.de/10005123945
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Policies to Improve Turkey's Resilience to Financial Market Shocks
Brook, Anne-Marie - Economics Department, Organisation de Coopération et … - 2006
economy and the steps that can be taken to improve macroeconomic resilience to shocks. This Working Paper relates to the 2006 …
Persistent link: https://www.econbiz.de/10005045812
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The Costs/Benefits of a Common Monetary Policy in France and Germany and Possible Lessons for Monetary Union
M; Jacques, eacutelitz; Weber, Axel A. - University of Bonn, Germany - 1996
In order to study the costs/benefits of a monetary union between Germany and France, we attempt to go beyond a mere focus on asymmetries and examine what each country would have lost or gained had there been a common monetary policy. We try to identify the macro effects of such a change within a...
Persistent link: https://www.econbiz.de/10004968244
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Public Debt, Economic Growth and Nonlinear Effects: Myth or Reality
Egert, Balazs - 2013
This paper puts the Reinhart-Rogoff dataset to a formal econometric testing to see whether public debt has a negative nonlinear effect on growth if public debt exceeds 90% of GDP. Using nonlinear threshold models, we show that the negative nonlinear relationship between debt and growth is very...
Persistent link: https://www.econbiz.de/10010292693
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A bargaining theory of trade invoicing and pricing
Goldberg, Linda; Tille, Cédric - 2013
We develop a theoretical model of international trade pricing in which individual exporters and importers bargain over the transaction price and exposure to exchange rate fluctuations. We find that the choice of price and invoicing currency reflects the full market structure, including the...
Persistent link: https://www.econbiz.de/10010294944
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Are All Measures of International Reserves Created Equal? An Empirical Comparison of International Reserve Ratios
Cheung, Yin-Wong; Yuk-Pang Wong, Clement - 2007
Using available annual data of 174 economies since 1957, we examine the similarities and differences of seven international reserve ratios. While individual international reserve ratios display substantial variations across economies, they are associated with an economy?s characteristics...
Persistent link: https://www.econbiz.de/10010295232
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Are All Measures of International Reserves Created Equal? An Empirical Comparison of International Reserve Ratios
Wong, Clement Yuk-pang; Cheung, Yin-Wong - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-15, pp. 1-61
Using available annual data of 174 economies since 1957, we examine the similarities and differences of seven international reserve ratios. While individual international reserve ratios display substantial variations across economies, they are associated with an economy?s characteristics...
Persistent link: https://www.econbiz.de/10010295312
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What drives the German current account? And how does it affect other EU Member States?
Vogel, Lukas; Kollmann, Robert; Ratto, Marco; Roeger, Werner - 2015
suggest that the German surplus reflects a succession of distinct shocks. Mono-causal explanations of the surplus are thus … insufficient. The most important factors driving the German surplus were positive shocks to the German saving rate and to ROW … demand for German exports, as well as German labour market reforms and other positive German aggregate supply shocks. The key …
Persistent link: https://www.econbiz.de/10011301406
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Are financial benefits of financial globalization questionable until greater domestic financial development has taken place?
Asongu, Simplice A. - 2012
Purpose - The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give...
Persistent link: https://www.econbiz.de/10011390787
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Financial development dynamic thresholds of financial globalization: evidence from Africa
Asongu, Simplice A. - 2012
Purpose - The issue of which financial initial conditions are necessary to materialize the benefits of financial globalization remains open to debate in the literature. In this paper, we try to put some empirical structure on the concept of financial threshold conditions in order to give...
Persistent link: https://www.econbiz.de/10011390810