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Three futures for postcrisis banking in the Americas: The financial trilemma and the Wall Street complex

Dymski, Gary A. - 2010

This would seem an opportune moment to reshape banking systems in the Americas. But any effort to rethink and improve banking must acknowledge three major barriers. The first is a crisis of vision: there has been too little consideration of what kind of banking system would work best for...

Persistent link: https://www.econbiz.de/10010281752

Dynamic Information Acquisition, Comlementarity, and Market Liquidity

Cai, Zhifeng - 2020

This paper studies dynamic information acquisition in financial markets with information asymmetry. It first shows that multiplicity can arise in the information market due to a dynamic complementarity in information acquisition. It then characterizes interactions between information...

Persistent link: https://www.econbiz.de/10012663139

Contagious policies: An analysis of spatial interactions among countries' capital account policies

Steiner, Andreas - 2010

Countries' capital account policies might be contagious in the sense that domestic policies are driven by other countries' policies. A model of strategic interactions is developed to show that countries' best response to policy changes elsewhere consists in imitating this policy. Using a spatial...

Persistent link: https://www.econbiz.de/10010289313

Capital controls and the real exchange rate: Do controls promote disequilibria?

Montecino, Juan Antonio - 2015

The consensus view is that capital controls can effectively lengthen the maturity composition of capital inflows and increase the independence of monetary policy but are not generally effective at reducing net inflows and influencing the real exchange rate. This paper presents empirical evidence...

Persistent link: https://www.econbiz.de/10011526698

Cross-border bank flows, regional household credit booms and bank risk-taking

Boddin, Dominik; te Kaat, Daniel Marcel; Roszbach, Kasper - 2024

booms that increase bank risk. We study how the influx of cross-border bank funding that followed the ECB's implementation …

Persistent link: https://www.econbiz.de/10015195408

Foreign Currency Loans and Systemic Risk in Europe

Yesin, Pinar - 2013

exchange-rate-induced credit risk to European banking sectors. In particular, Swiss franc (CHF)-denominated loans, popular in … borrowers from servicing the loans. Foreign currency loans thus pose a systemic risk from a "common market shock" perspective … Bank) and builds on the method suggested by Ranciere, Tornell, and Vamvakidis (2010) to quantify this systemic risk. The …

Persistent link: https://www.econbiz.de/10011430100

Macroeconomic Interdependence and the International Role of the Dollar

Goldberg, Linda; Tille, Cedric - LinkInstitut für Schweizerisches Bankwesen <Zürich> - 2008

The U.S. dollar holds a dominant place in the invoicing of international trade, along two complementary dimensions. First, most U.S. exports and imports invoiced in dollars. Second, trade flows that donot involve the United States are also substantially invoiced in dollars, an aspect that has...

Persistent link: https://www.econbiz.de/10005857748

Wage Formation in Open Economies and the Role of Monetary and Wage-Setting Institutions

Knell, Markus - 2002

The paper studies the determinants of unemployment in a two-country model, where real wages are the outcome of the strategic interaction between various institutional players (firms, unions, central banks). We show that: (i) the results derived in the recent literature on this topic are not...

Persistent link: https://www.econbiz.de/10013369980

Has the Euro changed the Business Cycle?

Enders, Zeno; Müller, Gernot J. - 2010

In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant decline in real exchange rate volatility, 2) significant changes in cross-country correlations, and 3) the volatility of macroeconomic fundamentals largely unchanged. We...

Persistent link: https://www.econbiz.de/10013370079

Regionalization vs. Globalization

Hirata, Hideaki; Kose, M. Ayhan; Otrok, Christopher - 2013

Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the...

Persistent link: https://www.econbiz.de/10010500234