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Persistent link: https://www.econbiz.de/10010190839
monetary economy critical to the generation of economic crises and the stagnation that follows them is its capacity to permit …
Persistent link: https://www.econbiz.de/10010291902
On July 1, 1990, when capital controls in the European Economic Community were removed, the path was paved for the introduction of the euro. This path was marked by a compromise between two schools of thought-those who assumed that the creation of the European Central Bank would be followed by...
Persistent link: https://www.econbiz.de/10011288339
Am 1. Juli 1990 wurde mit dem Wegfall der Kapitalverkehrskontrollen in der Europäischen Wirtschaftsgemeinschaft die erste Stufe auf dem Weg zum Euro genommen. Der Weg dorthin war auch durch einen Kompromiss zwischen zwei Denkschulen gekennzeichnet - derjenigen, die davon ausging, dass der...
Persistent link: https://www.econbiz.de/10011288345
We examine the financial conditions of dealers that participated in two of the Federal Reserve's lender-of-last-resort (LOLR) facilities - the Term Securities Lending Facility (TSLF) and the Primary Dealer Credit Facility (PDCF) - that provided liquidity against a range of assets during 2008-09....
Persistent link: https://www.econbiz.de/10011340952
Activities of international banks have been at the core of discussions on the causes and effects of the international financial crisis. Yet we know little about the actual magnitudes and mechanisms for transmission of liquidity shocks through international banks, including the reasons for...
Persistent link: https://www.econbiz.de/10011340974
What risks do asset price bubbles pose for the economy? This paper studies bubbles in housing and equity markets in 17 countries over the past 140 years. History shows that not all bubbles are alike. Some have enormous costs for the economy, while others blow over. We demonstrate that what makes...
Persistent link: https://www.econbiz.de/10011388152
It is widely suggested that there is some relationship between banking crises and recessions. We assess whether there … is evidence for interdependency between recessions and banking crises using both non-parametric tests and unconditional … predict banking crises and recessions and if these variables can explain the previously observed interdependence. Inclusion of …
Persistent link: https://www.econbiz.de/10010323565
during financial crises. That is to say that, ex post or crisis-management policies dominate ex ante or macro-prudential ones. …
Persistent link: https://www.econbiz.de/10010328177
expectations amplify boom and bust cycles and how endogenous coordination on pessimistic expectations amplifies crises and slows …
Persistent link: https://www.econbiz.de/10010328325