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Interdependencies in the Euro Area Derivatives Clearing Network : A Multi-Layer Network Approach

Rosati, Simonetta - 2020

markets across the globe, call for taking a “macro” view on the interconnections arising in the clearing network. Based on the … analysis of derivatives transactions data reported under the EMIR Regulation we reconstruct the network of relationships in the …-cleared derivatives network is modelled in the form of a multiplex network where each layer is represented by a derivatives asset class …

Persistent link: https://www.econbiz.de/10012844618

Reading the Footprints : How Foreign Investors Shape Countries’ Participation in Global Value Chains

Buelens, Christian - 2017

We show that traditional gravity variables play a significant role in explaining trade flows related to global value chain participation. We find evidence that cooperation costs – measured by linguistic and geographical proximity – are more relevant for trade that reflects cross-border...

Persistent link: https://www.econbiz.de/10012956243

On the Measurement of Foreign Direct Investment and Its Relationship to Activities of Multinational Corporations

Wacker, Konstantin M. - 2013

This paper discusses the different concepts of measuring multinational corporations' activities to provide empirical researchers helpful guidelines about which measures to use in their work. I discuss which economic relations exist between the measures and show that a tight relationship can be...

Persistent link: https://www.econbiz.de/10013072990

What Drives Euro Area Financial Market Developments? The Role of US Spillovers and Global Risk

Brandt, Lennart; Saint-Guilhem, Arthur; Schröder, … - 2021

Financial asset prices contain a rich set of real-time information on the economy. To extract this information, it is crucial to understand the driving factors behind financial market developments. In this paper, we exploit daily cross-asset price movements in a sign-restricted BVAR model to...

Persistent link: https://www.econbiz.de/10013225754

Sovereign Credit Ratings and Financial Markets Linkages : Application to European Data

Afonso, António - 2011

We use EU sovereign bond yield and CDS spreads daily data to carry out an event study analysis on the reaction of government yield spreads before and after announcements from rating agencies (Standard & Poor's, Moody's, Fitch). Our results show: significant responses of government bond yield...

Persistent link: https://www.econbiz.de/10013124928

Crowding-Out or Co-Existence? The Competitive Position of EU Members and China in Global Merchandise Trade

Benkovskis, Konstantins - 2014

of disaggregation (6-digit HS) for 75 world exporters and importers over the period 2000-2011 …

Persistent link: https://www.econbiz.de/10013062212

Labour Tax Reforms, Cross-Country Coordination and the Monetary Policy Stance in the Euro Area : A Structural Model-Based Approach

Jacquinot, Pascal - 2018

rest of the EA - REA), the US, and the rest of the world, region-specific labour markets with search and matching frictions …

Persistent link: https://www.econbiz.de/10012928551

Tracking Global Economic Uncertainty : Implications for the Euro Area

Bobasu, Alina; Geis, André; Quaglietti, Lucia; Ricci, … - 2021

This paper sheds light on the impact of global macroeconomic uncertainty on the euro area economy. We build on the methodology proposed by Jurado et al. (2015) and estimate global as well as country-specific measures of economic uncertainty for fifteen key euro area trade partners and the euro...

Persistent link: https://www.econbiz.de/10013231373

International Medium-Term Business Cycles

Hirschbühl, Dominik; Spitzer, Martin - 2021

Foreign driven medium-term oscillations that originate from fluctuations in technological frontier countries gained widespread attention among policymakers. To study this phenomenon in the context of domestic and other foreign drivers of the euro area business cycle, we develop a medium-scale,...

Persistent link: https://www.econbiz.de/10013233525

The Impact of Extreme Weather Events on Budget Balances and Implications for Fiscal Policy

Lis, Eliza M. - 2009

This paper explores implications of climate change for fiscal policy by assessing the impact of large scale extreme weather events on changes in public budgets. We apply alternative measures for large scale extreme weather events and conclude that the budgetary impact of such events ranges...

Persistent link: https://www.econbiz.de/10013159926