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We investigate the macroeconomic impacts of changes in capital adequacy requirements, as developed in the Basel Capital Accords, on Brazil and Mexico. Changes in the capital adequacy requirements of international and domestic banks are considered, since the former adopted the Basel Capital...
Persistent link: https://www.econbiz.de/10005770723
The US current account deficit is in excess of 6 per cent of GDP, and is leading to an accumulation of debts. We use NiGEM to evaluate the causes of the decline, and suggest that domestic absorption in the US has increased markedly. Nominal realignments and monetary expansions elsewhere are...
Persistent link: https://www.econbiz.de/10005467227
Given the increase in world economic integration we wish to examine whether there is a case for coordinating monetary policy across some of the major economies. In late 1998 and early 1999, US monetary policy responded to global economic conditions and interest rates were cut in response to the...
Persistent link: https://www.econbiz.de/10005642024
The paper discusses the possibility of a systemic banking crisis as a result of debt defaults, putting this risk and its impact on the economy into recent historical context. It looks at the vulnerability of the personal and business sectors to increases in borrowing rates, and at the evidence...
Persistent link: https://www.econbiz.de/10005609234
The national debt stock of the UK is rising sharply as a result of the economic crisis, and equilibrium output is falling, with the capital stock contracting. Both problems could be alleviated by the rapid introduction (but slow implementation) of a policy to extend working lives. The paper...
Persistent link: https://www.econbiz.de/10008518244
The purpose of this paper is to investigate the role of exchange rate uncertainty in determining foreign direct R&D investment into the UK. Specifically, we examine the impact of the UKs possible entry into EMU, where we exploit the fact that on entry the covariance of the Euro and sterling will...
Persistent link: https://www.econbiz.de/10005641965
We consider labour productivity convergence between the US and the UK and France, using industry level data. We find evidence of panel heterogeneity, cross sectional correlation and weak evidence of productivity convergence at the industry level.
Persistent link: https://www.econbiz.de/10005609238
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Persistent link: https://www.econbiz.de/10005467222
Persistent link: https://www.econbiz.de/10005467243
Persistent link: https://www.econbiz.de/10005467244