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Ferrari, Alessandro - 2017

states to smooth consumption and share risk. With the objective of evaluating the economic performance of euro area countries … the Synthetic Control Method. In order to get some preliminary measures of risk sharing, we first compute bilateral … consumption correlations and Brandt-Cochrane-Santa Clara Indexes across euro area member states. We then decompose risk sharing in …

Persistent link: https://www.econbiz.de/10012950577

Transmission of global financial shocks to EMU member states : the role of monetary policy and national factors

Gelman, Maria; Jochem, Axel; Reitz, Stefan - 2016

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

Contagion : How to Measure it?

Rigobon, Roberto - 2001

The empirical literature on contagion has mainly measured the propagation of shocks across countries using daily stock markets, interest rates, and exchange rates. Several methodologies have been used for this purpose, however, the properties of the data introduces important limitations on the...

Persistent link: https://www.econbiz.de/10014036215

Discussion of "Capital mobility and international sharing of cyclical risk"

Aguiar, Mark - In: Journal of monetary economics 60 (2013) 1, pp. 63-65

Persistent link: https://www.econbiz.de/10009736276

Persistent Current Account Imbalances : Are they Good or Bad for Regional and Global Growth?

Beirne, John - 2020

We examine the regional and global growth effects of current account imbalances in Japan, Germany, and the People's Republic of China (PRC)—the three largest persistent surplus countries—and the United States and United Kingdom, the two largest persistent deficit countries. Controlling for a...

Persistent link: https://www.econbiz.de/10012840675

Currency Crises and Output Dynamics

Basistha, Arabinda - 2015

Output effects of currency crises are often estimated to be negative and persistent. A new banking crisis database allows us to construct pure currency collapses that are not associated with banking crises. The estimates show that countries facing a pure currency crisis have fully recovery of...

Persistent link: https://www.econbiz.de/10013027543

International Business Cycles : Quantifying the Effects of a World Market for Oil

Gars, Johan - 2018

world market? We quantify the contribution of oil by setting up a model with separate shocks to efficiencies of capital …

Persistent link: https://www.econbiz.de/10012933575

Technology Shocks : Novel Implications for International Business Cycles

Raffo, Andrea - 2010

absorption similar to taste shocks, thus reconciling theory and data. The paper also presents implications for the transmission …

Persistent link: https://www.econbiz.de/10013146967

International business cycles : quantifying the effects of a world market for oil

Gars, Johan; Olovsson, Conny - 2017

world market? We quantify the contribution of oil by setting up a model with separate shocks to efficiencies of capital …

Persistent link: https://www.econbiz.de/10011657454

Corporate saving in global rebalancing

Bacchetta, Philippe; Benhima, Kenza - 2014

In this paper, we examine theoretically how corporate saving in emerging markets is contributing to global rebalancing. We consider a two-country dynamic general equilibrium model, based on Bacchetta and Benhima (2014), with a Developed and an Emerging country. Firms need to save in liquid...

Persistent link: https://www.econbiz.de/10010376442