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The determinants of cross-border bank flows to emerging markets: New empirical evidence on the spread of financial crises

Herrmann, Sabine; Mihaljek, Dubravko - 2010

This paper studies the nature of spillover effects in bank lending flows from advanced to the emerging market economies and identifies specific channels through which such effects occur. Based on a gravity model we examine a panel data set on cross-border bank flows from 17 advanced to 28...

Persistent link: https://www.econbiz.de/10010301350

Long-Run Links Among Money, Prices, and Output: World-Wide Evidence

Reimers, Hans-Eggert; Herwartz, Helmut - 2001

Regarding inflation as being a monetary phenomenon in the long-run is a widely-held view in modern macro economics. We analyse this topic by means of a P-star model. Based on the quantity theory of money, this approach explains inflation via a supposed equilibrium price level (P-star), which...

Persistent link: https://www.econbiz.de/10010295711

Die internationale Integration der Geldmärkte in den mittel- und osteuropäischen Beitrittsländern: Abweichungen von der gedeckten Zinsparität, Kapitalverkehrskontrollen und Ineffiz...

Herrmann, Sabine; Jochem, Axel - 2003

Republik, Ungarn und der Slowakei inzwischen einen hohen Grad an internationaler Integration mit dem Euro-Raum aufweisen. Die …, Hungary, and the Slovak Republic meanwhile display a high degree of international integration with the euro area. Integration …

Persistent link: https://www.econbiz.de/10010295753

The international integration of money markets in the central and east European accession countries: deviations from covered interest parity, capital controls and inefficiencies in...

Jochem, Axel; Herrmann, Sabine - 2003

, Hungary, and the Slovak Republic meanwhile display a high degree of international integration with the euro area. Integration … Republik, Ungarn und der Slowakei inzwischen einen hohen Grad an internationaler Integration mit dem Euro-Raum aufweisen. Die …

Persistent link: https://www.econbiz.de/10010295754

Die internationale Intregration der Devisenmärkte in den mittel- und osteuropäischen Beitrittsländern: Spekulative Effizienz, Transaktionskosten und Wechselkursprämien

Herrmann, Sabine; Jochem, Axel - 2003

Kassakursen gegenüber dem Euro nachgewiesen werden. Ökonometrische Untersuchungen bestätigen die Existenz einer zeitvariablen … der Festlegung des Leitkurses gegenüber dem Euro. … republic was unable to identify a cointegration relationship between forward and spot rates against the euro for the period …

Persistent link: https://www.econbiz.de/10010295755

The international integration of foreign exchange markets in the central and east European accession countries: speculative efficiency, transaction costs and exchange rate premiums

Herrmann, Sabine; Jochem, Axel - 2003

republic was unable to identify a cointegration relationship between forward and spot rates against the euro for the period … rate against the euro. … Kassakursen gegenüber dem Euro nachgewiesen werden. Ökonometrische Untersuchungen bestätigen die Existenz einer zeitvariablen …

Persistent link: https://www.econbiz.de/10010295756

Trade balances of the central and east European EU member states and the role of foreign direct investment

Herrmann, Sabine; Jochem, Axel - 2005

Given the large trade and current account deficits in some of the new EU member states the development of their external economic situation plays a role in assessing their aptitude to enter the European Monetary Union. The empirical analysis with aggregated data indicates that in the eight...

Persistent link: https://www.econbiz.de/10010295786

Do we really know that flexible exchange rates facilitate current account adjustment? Some new empirical evidence for CEE countries

Herrmann, Sabine - 2009

, Gulde and Wolf (2003). Based on a basic autoregression estimation, the results indicate that a more flexible exchange rate …

Persistent link: https://www.econbiz.de/10010298838