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Integration, decoupling and the global financial crisis: A global perspective
Miankhel, Adil Khan; Kalirajan, Kaliappa; Thangavelu, … - Volkswirtschaftliche Fakultät, … - 2010
have changed considerably due to increased openness and integration requiring considering business cycles at regional …
Persistent link: https://www.econbiz.de/10008533255
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Collateral Advantage : Exchange Rates, Capital Flows, and Global Cycles
Devereux, Michael B.; Engel, Charles M.; Wu, Steve Pak Yeung - 2022
This paper explores the effect of global shocks in a two-country New Keynesian model in which US government debt has an advantage as a superior collateral asset in the balance sheets of banks. We show that the model can account for the observed response of the US dollar and US bond returns to a...
Persistent link: https://www.econbiz.de/10014076677
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The Dollar, Global Growth Risks and the US Safety Puzzle
Kim, Sun Yong - 2022
The United States (US) extracts a large macroeconomic premium from foreigners: she enjoys higher consumption and GDP growths on average relative to the rest of the world (ROW). This is earned even though the US is relatively insulated against global consumption and GDP risks, challenging a...
Persistent link: https://www.econbiz.de/10014077659
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US Wealth Shares, the Dollar and International Risk Sharing
Kim, Sun Yong - 2021
I study the joint dynamics between the US wealth share, the dollar and the global economy. I uncover three novel stylised facts about these joint dynamics. Firstly, the US wealth share is countercyclical: it falls on impact but subsequently rises over the course of global recessions. Secondly...
Persistent link: https://www.econbiz.de/10013237177
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Measuring time-varying financial market integration: An unobserved components approach
Berger, Tino; Pozzi, Lorenzo - In: Journal of Banking & Finance 37 (2013) 2, pp. 463-473
We measure the time-varying degree of world stock market integration of five developed countries (Germany, France, UK …, US, and Japan) over the period 1970:1–2011:10. Time-varying financial market integration of each country is measured … through the use of state space methods that allow for GARCH errors. Our empirical results suggest that stock market …
Persistent link: https://www.econbiz.de/10010595289
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Measuring time-varying financial market integration : an unobserved components approach
Berger, Tino; Pozzi, Lorenzo - In: Journal of banking & finance 37 (2013) 2, pp. 463-473
Persistent link: https://www.econbiz.de/10009705640
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The international role of the dollar : does it matter if this changes?
Goldberg, Linda S. - 2011
There is often speculation that the international roles of currencies may be changing. This paper presents the current status of these roles. The U.S. dollar continues to be the dominant currency across various uses. Yet, such a role may change over time. If this occurs, there could be...
Persistent link: https://www.econbiz.de/10009349607
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The Dollar, Bank Leverage and Real Economic Activity : An Evolving Relationship
Erik, Burcu - 2020
The interest in how financial conditions affect real economic activity has grown since the Great Financial Crisis (GFC), not least because some of the mechanisms at play in the financial sector may have changed. We shed light on this issue by examining the empirical relationship between global...
Persistent link: https://www.econbiz.de/10012837535
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Dollar Pricing Redux
Casas, Camila - 2017
A country's exchange rate is at the center of economic and political debates on currency wars and trade competitiveness. The real consequences of exchange rate fluctuations depend critically on how firms set prices in international markets. Recent empirical evidence has challenged the dominant...
Persistent link: https://www.econbiz.de/10012950251
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The International Role of the Dollar : Does It Matter if This Changes?
Goldberg, Linda S. - 2011
There is often speculation that the international roles of currencies may be changing. This paper presents the current status of these roles. The U.S. dollar continues to be the dominant currency across various uses. Yet, such a role may change over time. If this occurs, there could be...
Persistent link: https://www.econbiz.de/10013119501