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534 results, from 381
  • Weitere externe Aufsätze

    Monetary Frameworks and Exchange Rate Regimes

    In: Giovanni Capannelli, Jayant Menon (Eds.) , Dealing with Multiple Currencies in Transitional Economies
    Manila : Asian Development Bank
    S. 233-253
    | Patricia Alvarez-Plata, Alfred Steinherr
  • Weitere externe Aufsätze

    European Monetary Cooperation: The Role of Small Countries

    In: Giovanni Capannelli, Jayant Menon (Eds.) , Dealing with Multiple Currencies in Transitional Economies
    Manila : Asian Development Bank
    S. 307-315
    | Alfred Steinherr
  • Refereed essays Web of Science

    Regionality Revisited: An Examination of the Direction of Spread of Currency Crises

    What determines the direction of spread of currency crises? We examine data on waves of currency crises in 1992, 1994, 1997, and 1998 to evaluate several hypotheseson the determinants of contagion. We simultaneously consider trade competition, financial links, and institutional similarity to the "ground zero" country as potential drivers of contagion. To overcome data limitations and account for model ...

    In: Journal of International Money and Finance 30 (2011), 5, S. 831-848 | Amil Dasgupta, Roberto Leon-Gonzalez, Anja Shortland
  • Refereed essays Web of Science

    Does the Nominal Exchange Rate Regime Affect the Real Interest Parity Condition?

    The real interest parity (RIP) condition combines two cornerstones in international finance, uncovered interest parity (UIP) and ex ante purchasing power parity (PPP). The extent of deviation from RIP is therefore an indicator of the lack of product and financial market integration. This paper investigates whether the nominal exchange rate regime has an impact on RIP. The analysis is based on 15 annual ...

    In: North American Journal of Economics and Finance 21 (2010), 3, S. 274-285 | Christian Dreger
  • DIW Economic Bulletin 27 / 2015

    A Stronger Union through Crisis? 25 Years of Monetary Integration in Europe

    On July 1, 1990, when capital controls in the European Economic Community were removed, the path was paved for the introduction of the euro. This path was marked by a compromise between two schools of thought—those who assumed that the creation of the European Central Bank would be followed by greater economic convergence and political integration, and those who saw the single currency as the coronation ...

    2015| Ferdinand Fichtner, Philipp König
  • DIW Economic Bulletin 11/12 / 2013

    TARGET Balances - An Anchor of Stability

    The debate about TARGET2, the payment system of the European System of Central Banks (ESCB), has resulted in controversial discussions in Germany in recent years. The present study by DIW Berlin concludes that fears often expressed in this context of the risks to Germany are largely unfounded. Germany is - in contrast to what is often claimed - one the beneficiaries of the Target system. In particular, ...

    2013| Marcel Fratzscher, Philipp König, Claudia Lambert
  • DIW Economic Bulletin 11/12 / 2013

    Settling TARGET Balances after the Euro Crisis: Seven Questions to Claudia Lambert and Philipp König

    2013
  • Diskussionspapiere 1339 / 2013

    Fiscal Adjustment and Business Cycle Synchronization

    Using a panel of annual data for 20 countries we show that synchronized fiscal consolidation (stimulus) programmes in different countries make their business cycles more closely linked, especially in the case of fiscal adjustments lasting 2 or 3 years. We also find: (i) little evidence of decoupling when an inflation targeting regime is unilaterally adopted; (ii) an increase in business cycle synchronization ...

    2013| Luca Agnello, Guglielmo Maria Caporale, Ricardo M. Sousa
  • DIW Roundup 55 / 2015

    Bubbles and Monetary Policy: To Burst or Not to Burst?

    The question of whether monetary policy should target asset prices remains a contentious issue. Prior to the 2007/08 financial crisis, central banks opted for a wait-and-see approach, remaining passive during the build-up of asset price bubbles but actively seeking to stabilize prices and output after they burst. The macroeconomic and financial turbulence that followed the subprime housing bubble has ...

    2015| Philipp König, David Pothier
  • Diskussionspapiere 1448 / 2015

    Monetary Policy, Bank Bailouts and the Sovereign-Bank Risk Nexus in the Euro Area

    The paper analyses the empirical relationship between bank risk and sovereign credit risk in the euro area. Using structural VAR with daily financial markets data for 2003-13, the analysis confirms two-way causality between shocks to sovereign risk and bank risk, with the former being overall more important in explaining bank risk, than vice versa. The paper focuses specifically on the impact of non-standard ...

    2015| Marcel Fratzscher, Malte Rieth
534 results, from 381
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