Showing 1 - 10 of 280
The paper explores the view that the Asian currency and financial crises in 1997 and 1998 reflected structural and policy distortions in the countries of the region, even though market overreaction and herding caused the plunge of exchange rates, asset prices and economic activity to be more...
Persistent link: https://www.econbiz.de/10005111544
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
Persistent link: https://www.econbiz.de/10000168596
Persistent link: https://www.econbiz.de/10001566209
Persistent link: https://www.econbiz.de/10001476461
We exploit a gravity model to study the main determinants of cross-border financial flows and to identify those flows that appear to be abnormally above the predicted value. Our data include all Italian cross-border bank transfers that took place between 2007 and 2010. We find that, other things...
Persistent link: https://www.econbiz.de/10011100369
Since the adoption of flexible exchange rates, real exchange rates have been much more volatile than they were under Bretton Woods. However, the volatilities of most other macroeconomic variables have remained approximately unchanged. This poses a puzzle for standard international business cycle...
Persistent link: https://www.econbiz.de/10005609375
economy model with Bayesian methods. Oil price is determined according to supply and demand conditions in the world oil market … driver of higher oil prices is an increase in the rest of the world's aggregate demand, both euro-area GDP and CPI inflation … effects on the euro-area economy because it was associated with positive aggregate demand shocks in the rest of the world …
Persistent link: https://www.econbiz.de/10011099725