Showing 1 - 10 of 506
, using local projections, the paper zooms in on shocks originating in the United States, Europe, and China. Our results …, Europe, and China reduces economic activity in the rest of the world, with the effects being mostly felt in Europe and the …
Persistent link: https://www.econbiz.de/10011763593
Monetary and fiscal policies around the world are in better shape today than two decades ago. This paper studies whether financial globalization has helped induce governments to pursue better macroeconomic policies (the ""discipline effect""). The empirical tests have two innovations. First, we...
Persistent link: https://www.econbiz.de/10014400935
Against the backdrop of the rise of global value chains (GVCs), particularly in Asia, this paper documents key developments of GVCs and investigates what factors cause economies to reap greater benefits from GVC participation. Key findings include: first, moving toward a more upstream position...
Persistent link: https://www.econbiz.de/10011373981
The bulk of corporate governance theory examines the agency problems that arise from two extreme ownership structures: 100 percent small shareholders or one large, controlling owner combined with small shareholders. In this paper, we question the empirical validity of this dichotomy. In fact,...
Persistent link: https://www.econbiz.de/10014401077
The extent of fiscal transparency in Western Europe has varied over the centuries. Although ancient Greek, Roman, and medieval governments were sometimes open about their finances, the absolute monarchies of the 1600s and 1700s shrouded them in mystery. Factors that have encouraged transparency...
Persistent link: https://www.econbiz.de/10012667430
Under alternative assumptions on the likely developments in external financing of PCPE transition, and based on a multi-country, forward-looking model that includes a simplified PCPE block, we simulate the response of PCPEs to a transfer of capital from the industrial countries, and assess the...
Persistent link: https://www.econbiz.de/10014398206
While China's growth gathered momentum in 2017, rebalancing was uneven and decelerated along many dimensions reflecting …
Persistent link: https://www.econbiz.de/10012112238
development is the rising role of the Asian countries and the noticeable increase in network susceptibility to shocks from China … multilayer network framework is applied to link debt and equity exposures across countries. Use of this approach-that examines … of financial contagion.The structure of the global financial network has changed since the global financial crisis …
Persistent link: https://www.econbiz.de/10011852664
Anecdotal evidence suggests the existence of specific choke points in the global trade network revealed especially … basket and to propose effective mitigation policies. First, using network analysis tools we develop a methodology for …
Persistent link: https://www.econbiz.de/10011716572
This paper proposes a network model of multilaterally equilibrium exchange rates. The model introduces a topological … currencies. The paper defines the currency demand indicator. On its base, it derives a multilateral exchange rate network, finds …
Persistent link: https://www.econbiz.de/10011711598