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In this paper, we investigate worldwide contagion and its determinants during the 2008 financial crisis. Utilizing an international sample of returns from 2003 to 2009, we consider both uni- and bi-directional contagion. After controlling for crisis-related volatility, we find strong evidence...
Persistent link: https://www.econbiz.de/10011116374
Relative to the “global savings glut” (GSG) hypothesis, we present a more complete picture of how capital flows contributed to the financial crisis, drawing attention to the sizable inflows from European investors into U.S. private-label asset-backed securities (ABS), including...
Persistent link: https://www.econbiz.de/10011056342
Persistent link: https://www.econbiz.de/10012316237
The aim of this paper is to provide an interpretation of the so-called profits-investments puzzle, in the theoretical framework of the monetary theory of production (MTP) and with reference to ‘radical’ Institutional issues. In methodological terms, the exercise provided here is designed to...
Persistent link: https://www.econbiz.de/10010739578
) based on a review of papers published in tourism and hospitality journals between 2009 and 2013. Design …/methodology/approach – Based on three major databases, 107 journal papers were retrieved and reviewed. The papers were grouped into two major … of recent technological developments. Originality/value – A major contribution of this paper is the comprehensive review …
Persistent link: https://www.econbiz.de/10014764682
Persistent link: https://www.econbiz.de/10013407505
In broad perspective, there have been essentially two competing views of the global financial crisis, albeit there are some complementarities among them. One view looks across the border: it mainly blames external imbalances, the large-scale mix of unprecedented pattern current account deficits...
Persistent link: https://www.econbiz.de/10011084021
A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage. Authors have examined efficiency by looking at the spread of the gold points, gold point violations, the flow of gold, or by tests of various asset market criteria, including...
Persistent link: https://www.econbiz.de/10005088628
Does the center country of the International Monetary System enjoy an "exorbitant privilege" that significantly weakens its external constraint as has been asserted in some European quarters? Using a newly constructed dataset, we perform a detailed analysis of the historical evolution of US...
Persistent link: https://www.econbiz.de/10005088875
A major question in the literature on the classical gold standard concerns the efficiency of international arbitrage. Most authors have examined efficiency by looking at the spread of the gold points, gold-point violations, the flow of gold in profitable or unprofitable directions, or by tests...
Persistent link: https://www.econbiz.de/10005774809