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The impact of national financial regulation on macroeconomic and fiscal performance after the 2007 financial shock: Econometric analyses based on cross-country data

Hagen, Tobias - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-33, pp. 1-44

Using cross-country data, this paper estimates the impact of the 2007 financial shock on countries' macroeconomic developments conditional on national financial regulations before the crisis. For this purpose, the financial reform index developed by Abiad et al. (A New Database of Financial...

Persistent link: https://www.econbiz.de/10010317973

Is Old Money Better than New? Duration and Monetary Regimes

Rose, Andrew K.; Mihov, Ilian - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-13, pp. 1-24

We compare the duration and performance of different monetary regimes, especially the contrast between countries those that fix exchange rates and those that target inflation. Inflation targeting is a more durable policy; no country has yet been forced to abandon an inflation target, while many...

Persistent link: https://www.econbiz.de/10010332961

The Triffin dilemma again

Campanella, Edoardo - In: Economics: The Open-Access, Open-Assessment E-Journal 4 (2010) 2010-25, pp. 1-18

Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...

Persistent link: https://www.econbiz.de/10010301326

The Single Currency's Effects on Eurozone Sectoral Trade: Winners and Losers?

Vicarelli, Claudio; De Santis, Roberta; De Nardis, Sergio - In: Economics: The Open-Access, Open-Assessment E-Journal 2 (2008) 2008-17, pp. 1-34

In this paper we study the effect of the single currency across industries for euro area members. This analysis may … help to shed light on the main factors influencing the euro effect on trade flows. We intend to verify whether these … factors are specific to individual sectors and/or countries or common to the entire euro area. We use a dynamic specification …

Persistent link: https://www.econbiz.de/10010295314

A theory of economic policy lock-in and lock-out via hysteresis: Rethinking economists' approach to economic policy

Palley, Thomas - In: Economics: The Open-Access, Open-Assessment E-Journal 11 (2017) 2017-18, pp. 1-18

illustrated with examples that include tax policy, government spending, the euro, globalization, and the neoliberal policy …

Persistent link: https://www.econbiz.de/10011669618

The Balassa-Samuelson Hypothesis in Developed Countries and Emerging Market Economies: Different Outcomes Explained

García Solanes, José; Torrejón-Flores, Fernando - In: Economics: The Open-Access, Open-Assessment E-Journal 3 (2009) 2009-2, pp. 1-24

This paper studies the Balassa-Samuelson effects in two areas with strong differences in economic development, sixteen OECD countries and sixteen Latin American economies. The USA is taken as a benchmark. Applying recent panel cointegration and bootstrapping techniques that solve for...

Persistent link: https://www.econbiz.de/10010298622

What drives FDI from non-traditional sources? A comparative analysis of the determinants of bilateral FDI flows

Sosa Andrés, Maximiliano; Nunnenkamp, Peter; Busse, … - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-1, pp. 1-53

Non-traditional source countries of FDI play an increasingly important role, notably in developing host countries. This raises the question of whether the location choices differ systematically between traditional and non-traditional source countries. We perform Logit and Poisson Pseudo Maximum...

Persistent link: https://www.econbiz.de/10010332778

Organizational form as a source of systemic risk

Bholat, David; Gray, Joanna - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-27, pp. 1-35

Systemic risk now occupies centre stage in discussions of bank regulatory reform. Systemic risk is often seen as a problem of size, operational complexity, interconnectivity and contagion. It is less often discussed in terms of the institutional framework of legal rules and principles within...

Persistent link: https://www.econbiz.de/10010314581

Money creation and financial instability: An agent-based credit network approach

Lengnick, Matthias; Krug, Sebastian; Wohltmann, Hans-Werner - In: Economics: The Open-Access, Open-Assessment E-Journal 7 (2013) 2013-32, pp. 1-44

The authors develop a simple agent-based and stock flow consistent model of a monetary economy. Their model is well suited to explain money creation along the lines of mainstream theory. Additionally it uncovers a potential instability that follows from a maturity mismatch of assets and...

Persistent link: https://www.econbiz.de/10010317976

A financially stressed euro area

Kappler, Marcus; Schleer, Frauke - In: Economics: The Open-Access, Open-Assessment E-Journal 11 (2017) 2017-6, pp. 1-37

The authors analyse 149 newly compiled monthly time series on financial market stress conditions in the euro area. With … Curve' factor seems to explain the bulk of volatility in recent euro area financial sector data. Moreover, by a real …

Persistent link: https://www.econbiz.de/10011629683