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On the persistence of trade imbalances: Evidence from Europe
Berger, Helge; Nitsch, Volker - 2013
imbalances among euro area members widened considerably, even after allowing for permanent asymmetries in trade competitiveness … within pairs of countries or in the overall trade competitiveness of individual countries. Intra-euro area imbalances also … of 18 European countries over the period from 1948 through 2008. We find that, with the introduction of the euro, trade …
Persistent link: https://www.econbiz.de/10010323741
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Zum politischen Machtwechsel in Griechenland. Die Parlamentswahlen von Januar 2015 aus einem kritischen Blickwinkel
Mavrozacharakis, Emmanouil - Volkswirtschaftliche Fakultät, … - 2015
. The Intention of the restructuring program is to lead as soon as possible Greece out from the debt. In fact however the …
Persistent link: https://www.econbiz.de/10011185382
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Alternatives to Fiscal Austerity in Spain
Weisbrot, Mark; Montecino, Juan Antonio - Center for Economic and Policy Research (CEPR) - 2010
, likely outcomes for future debt-to-GDP ratios, and the probable results of alternative policies. …
Persistent link: https://www.econbiz.de/10008560250
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Rating the Rating Agencies
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
In this study, we begin by assessing the ability of sovereign credit ratings to anticipate crises. In addition, given the wave of sovereign credit ratings downgrades that have followed the crises in Asia, we investigate formally the extent to which credit ratings are reactive. Along the way, we...
Persistent link: https://www.econbiz.de/10008531919
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Some Policy Issues Regarding an Early Warning System
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
In focusing on the 24 month window prior to the onset of the crisis, the criteria for ranking the indicators presented in our related work does not distinguish between a signal given 12 months prior to the crisis and one given one month prior to the crisis. In what follows we examine this issue,...
Persistent link: https://www.econbiz.de/10008531924
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Early Warning System: An Assessment of Vulnerability
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
Predicting the timing of currency and banking crises is likely to remain an elusive task for academics, financial market participants, and policymakers. Few foresaw the Asian crises and fewer still could have imagined their severity. However, recent events have highlighted the importance of...
Persistent link: https://www.econbiz.de/10008531929
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Early Warning System: Empirical Results from The Signals Approach
Reinhart, Carmen; Goldstein, Morris; Kaminsky, Graciela - Volkswirtschaftliche Fakultät, … - 2000
The signals approach was applied to 24 of the indicators around the dates of the 29 banking and the 87 currency crises. In what follows, we first compare our results for the 15 original indicators in Kaminsky and Reinhart (1996) to those presented in that study. This exercise assesses the...
Persistent link: https://www.econbiz.de/10008531936
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International Financial Integration of South-Mediterranean Economies : A Bird's-Eye View
Peeters, Marga - 2012
Should South-Mediterranean economies continue their financial integration in the world economy, considering their current stance and in view of the experiences of developed economies with the global financial crisis? The economies of the North-African rim, that is Morocco, Algeria, Tunisia,...
Persistent link: https://www.econbiz.de/10013108515
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A Model of an Optimum Currency Area
Ricci, Luca Antonio - 2007
This paper develops a model of the circumstances under which it is beneficial to participate in a currency area. The proposed two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of...
Persistent link: https://www.econbiz.de/10010295253
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A Model of an Optimum Currency Area
Ricci, Luca Antonio - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-8, pp. 1-31
This paper develops a model of the circumstances under which it is beneficial to participate in a currency area. The proposed two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of...
Persistent link: https://www.econbiz.de/10010295306