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Real convergence in Central and Eastern European EU Member States: which role for exchange rate volatility?

Arratibel, Olga; Furceri, Davide; Martin, Reiner - 2008

This paper analyzes the relation between exchange rate volatility and several macroeconomic variables, namely real per capita output growth, the credit cycle, the stock of inward foreign direct investment (FDI) and the current account balance, in the Central and Eastern European EU Member...

Persistent link: https://www.econbiz.de/10011604975

US imbalances: the role of technology and policy

Bems, Rudolfs; Dedola, Luca; Smets, Frank - 2007

This paper investigates the role of three likely factors in driving the steady deterioration of the US external balance: US technology developments, changes in the US government fiscal position and the Fed’s monetary policy. Estimating several Vector Autoregressions on US data over the period...

Persistent link: https://www.econbiz.de/10011604765

The role of demographics in precipitating crises in financial institutions

Macunovich, Diane J. - 2009

There are significant effects of changing demographics on economic indicators: growth in GDP especially, but also the current account balance and gross capital formation. The 15-24 age group appears to be one of the key age groups in these effects, with increases in that age group exerting...

Persistent link: https://www.econbiz.de/10010271339

The internationalization of the dollar and trade balance adustment

Goldberg, Linda; Tille, Cédric - 2006

The pattern of international trade adjustment is affected by the continuing international role of the dollar and related evidence on exchange rate pass-through to prices. This paper argues that a depreciation of the dollar would have asymmetric effects on flows between the United States and its...

Persistent link: https://www.econbiz.de/10010283320

Exchange rates and global rebalancing

Eichengreen, Barry; Rua, Gisela - 2011

This paper considers the general equilibrium relationship between exchange rates and global imbalances. It emphasizes that the exchange rate is not a primitive but an equilibrium price determined by the policy mix. It uses extensions of the two-country Obstfeld-Rogoff model to analyze the...

Persistent link: https://www.econbiz.de/10010286173

The international transmission of monetary policy

Buch, Claudia M.; Bussière, Matthieu; Goldberg, Linda S.; … - 2018

This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...

Persistent link: https://www.econbiz.de/10012144688

Global bond portfolios and EMU

Lane, Philip R. - 2005

We examine the bilateral composition of international bond portfolios for the euro area and the individual EMU member countries. We find considerable support for “euro area bias”: EMU member countries disproportionately invest in one another relative to other country pairs. Another striking...

Persistent link: https://www.econbiz.de/10011604599

Leistungsbilanzungleichgewichte im Euroraum: China als Hauptproblem für Krisenländer

Nauschnigg, Franz - In: Wirtschaftsdienst 93 (2013) 12, pp. 855-858

2008 aber deutlich zurückgegangen, während das Ungleichgewicht gegenüber China weiter besteht - vor allem aufgrund der … 2004. Since 2005 their deficits with the rest of the world have been bigger, especially with China. Now the imbalances with … China, not Germany, are the main concern for euro area problem countries. The reasons for this development were the strong …

Persistent link: https://www.econbiz.de/10011418836

China's current account and exchange rate

Cheung, Yin-Wong; Chinn, Menzie D.; Fujii, Eiji - 2009

capital stock is accounted for. Thus, the China-US trade balance should respond to real exchange rate and relative income …

Persistent link: https://www.econbiz.de/10010264589

Yen or Yuan? China's role in the future of Asian monetary integration

Hefeker, Carsten; Nabor, Andreas - 2002

instead on the potential role of the Chinese renminbi. It becomes increasingly clear that China will assume the role of the …

Persistent link: https://www.econbiz.de/10010295536