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The Directive on Restructuring and Insolvency sets minimum standards for restructuring and certain insolvency matters, but its harmonization effect will be limited given multiple options for implementation, likely leading to divergent restructuring models in Europe. These options reveal...
Persistent link: https://www.econbiz.de/10012612340
monetary and financial conditions, leading to novel international spillovers and crucial departures from Mundell's trilemma. We …
Persistent link: https://www.econbiz.de/10012112314
Co-movement (synchronicity) in inflation rates among a set of 13 emerging and developing countries in Asia is shown to be strongest for the food component, partly due to common rainfall shocks-a result which the paper terms the 'monsoon effect.' Economies with higher trade integration and...
Persistent link: https://www.econbiz.de/10012102097
wage rises even as unemployment began to decline. Spillovers of subdued wage growth between euro area countries also …
Persistent link: https://www.econbiz.de/10012102142
the supply and demand channels in trade by quantifying the causal effect of supply spillovers from lockdowns. We utilize a … spillovers of lockdowns through international trade. Moreover, the evidence is suggestive of the downstream propagation of …
Persistent link: https://www.econbiz.de/10012486099
This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of analyses to identify which fund categories are more vulnerable to distress than others, and how sales from funds can impact financial stability. We develop a new measure to identify...
Persistent link: https://www.econbiz.de/10012605013
This paper examines the role of sectoral spillovers in propagating sectoral shocks in the broader economy, both in the … past and during the COVID-19 pandemic. In particular, we study how shocks that occur within a sector itself and spillovers … historical estimates, together with the network structure of global production, to quantify the spillovers from the economic …
Persistent link: https://www.econbiz.de/10012605501
The COVID-19 pandemic prompted a collapse in international tourism, severely impacting the tourism-dependent economies in the Asia and Pacific region. Once countries start reopening, tourism diversion effects could accelerate the recovery in countries that establish themselves as more attractive...
Persistent link: https://www.econbiz.de/10012796804
value added of the car sector attributable to spillovers via supply chains within and across borders. Within borders, the … associated demand effects. Across borders, spillovers from the pandemic-induced labor supply shocks that originate in other …
Persistent link: https://www.econbiz.de/10013170591
We examine how Korea’s capital flows and trade have been affected by the quantitative easing (QE) of the United States and the quantitative and qualitative easing (QQME) of Japan. Korea is an intriguing case due to its borderline position between advanced and emerging market country groups,...
Persistent link: https://www.econbiz.de/10014411174