Veranstaltungen der Abteilung Weltwirtschaft

DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

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DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

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We present a stock market model that quantitatively replicates the joint behavior of stock prices, trading volume and investor expectations. Stock prices in the model occasionally display belief-driven boom and bust cycles that delink asset prices from fundamentals and redistribute considerable amounts of wealth from less to more experienced investors. Although gains from trade arise only from ...

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This paper estimates the effects of banks' foreign exposures on local lending and labor markets in the aftermath of the 2008-2009 world financial crisis for the Brazilian financial systems. The analysis focuses on two dimensions of banks' foreign exposures: foreign ownership and foreign funding. Our results suggest that both exposure dimensions represent distinct transmission mechanisms affecting ...

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DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

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In this paper, we develop a very simple theoretical framework for analyzing optimal FX intervention for an EM which is exposed to a capital outows shock, taking explicit account of the possibility that reserves may run out. The full commitment solution entails a sustained path of FX intervention, with reserves optimally running out for persistent shocks. This solution is not time consistent. The ...

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This talk is based on two joint works with Isaac Sserwanja: "Corporate Bond Yields in the Transmission Mechanism of Monetary Policy" "Fiscal Policy, Interest Rates, and Output: Equilibrium-Correction Dynamics in the US Economy"

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DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

• locknicht öffentlich

Renminbi internationalisation has brought about an active offshore market where the exchange rate frequently diverges from the onshore market. Using extended GARCH models, we explore the role of fundamentals, global factors and policies related to renminbi internationalisation in driving the pricing differential between the onshore and offshore exchange rates. Differences in ...

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We provide a Keynesian growth theory in which pessimistic expectations can lead to permanent, or very persistent, slumps characterized by unemployment and weak growth. We refer to these episodes as stagnation traps, because they consist in the joint occurrence of a liquidity and a growth trap. In a stagnation trap, the central bank is unable to restore full employment because weak growth pushes ...

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DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

• locknicht öffentlich

DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

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We explore whether the tone of central bank communication matters for asset prices. Using press conference statements by the ECB, which was the first central bank to establish regular live press conference after meetings of its Governing Council, we find that tone changes have a statistically and economically significant effect on equity returns. Stock prices increase when ECB tone becomes more ...

• locknicht öffentlich
• Unterlagen

DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

• locknicht öffentlich

DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

• locknicht öffentlich

DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

• locknicht öffentlich

DENeB brings together researchers in the Berlin area who are working on themes related to Development Economics. The seminar series gives invited guests the opportunity to present their work and receive feedback from members of the network.

• locknicht öffentlich