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Capital Flows and the Us 'New Economy' : Consumption Smoothing and Risk Exposure
Miller, Marcus H.; Castren, Olli; Zhang, Lei - 2021
experiencing a favourable supply side shock consumes more against expected future output and spreads the risk by selling shares …
Persistent link: https://www.econbiz.de/10013318678
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Capital flows and the US ‘New Economy’: consumption smoothing and risk exposure
Miller, Marcus; Castrén, Olli; Zhang, Lei - 2005
experiencing a favourable supply side shock consumes more against expected future output and spreads the risk by selling shares …
Persistent link: https://www.econbiz.de/10011604505
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International macroeconomic vulnerability
Velloso, João; Garcia, Márcio Gomes Pinto; Guillen, Diogo - 2022
We propose and implement an index of macroeconomic vulnerability to foreign shocks based on a structural time-varying bayesianVARwith a block-exogeneity hypothesis for a given pair of a large economy and a small open economy. The index is based on the sum of the responses of the small open...
Persistent link: https://www.econbiz.de/10012814956
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International Risk Sharing in the EMU
Ferrari, Alessandro - 2017
states to smooth consumption and share risk. With the objective of evaluating the economic performance of euro area countries … the Synthetic Control Method. In order to get some preliminary measures of risk sharing, we first compute bilateral … consumption correlations and Brandt-Cochrane-Santa Clara Indexes across euro area member states. We then decompose risk sharing in …
Persistent link: https://www.econbiz.de/10012950577
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Transmission of global financial shocks to EMU member states : the role of monetary policy and national factors
Gelman, Maria; Jochem, Axel; Reitz, Stefan - 2016
The paper analyses the transmission of global financial shocks to individual member states of the European Monetary Union (EMU), in which monetary policy is delegated to the ECB and financial markets are fully integrated. Using a panel VAR model, we show that the asymmetric effects of global...
Persistent link: https://www.econbiz.de/10011495568
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Transatlantic monetary and fiscal policy interaction
Aarle, Bas van; Garretsen, Harry; Huart, Florence - 2003
This paper studies the design, effects and interactions of monetary and fiscal policies in the euro-area and between the euro-area and the non euro-area. To do so, a stylized three-country model of monetary and fiscal policy rules is constructed. It is analyzed how monetary and fiscal rules...
Persistent link: https://www.econbiz.de/10011509484
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The euro and international capital markets
Detken, Carsten; Hartmann, Philipp - 2000
international portfolio investments, such as relative market liquidity and relative risk characteristics of assets, are also …
Persistent link: https://www.econbiz.de/10009767695
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The Carry Trade on the Euro and the European Stock Market
Parlapiano, Fabio - 2014
dependent on macroeconomic risk factors and speculative positions. The latter are measured by the net open futures positions … recorded on the CME. While correlated with the standard carry-to-risk and forward discount proxies, net open positions have the …
Persistent link: https://www.econbiz.de/10013047121
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Risk sharing revisited : empirics and concepts
Harms, Patrick Christian - 2021
The paper adds to the literature as follows: starting from the benchmark model of Asdrubali et al. (1996), we reproduce the original specification with a data set obtained from the authors as well as possible. In a second step, this specification is brought to euro area data. Again, the results...
Persistent link: https://www.econbiz.de/10012436572
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Growth of Global Corporate Debt : Main Facts and Policy Challenges
Abraham, Facundo - 2020
This paper surveys the literature to document the main stylized facts, risks, and policy challenges related to the expansion of global nonfinancial corporate debt after the 2008–09 global financial crisis. Nonfinancial corporate debt steadily increased after the crisis, especially in emerging...
Persistent link: https://www.econbiz.de/10012823367