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Author: Mr.Yan Sun
Publisher: International Monetary Fund
ISBN: 147559254X
Category : Business & Economics
Languages : en
Pages : 74
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Book Description
This paper uses the Global VAR (GVAR) model proposed by Pesaran et al. (2004) to study cross-country linkages among euro area countries, other advanced European countries (including the Nordics, the UK, etc.), and the Central, Eastern and Southeastern European (CESEE) countries. An innovative feature of the paper is the use of combined trade and financial weights (based on BIS reporting banks’ external position data) to capture the very close trade and financial ties of the CESEE countries with the advanced Europe countries. The results show strong co-movements in output growth and interest rates but weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of economic influences, there are also interesting subregional linkages, e.g. between the Nordic and the Baltic countries, and a small but notable impact of CESEE countries on the rest of the Europe.
Author: Mr.Yan Sun
Publisher: International Monetary Fund
ISBN: 147559254X
Category : Business & Economics
Languages : en
Pages : 74
Get Book Here
Book Description
This paper uses the Global VAR (GVAR) model proposed by Pesaran et al. (2004) to study cross-country linkages among euro area countries, other advanced European countries (including the Nordics, the UK, etc.), and the Central, Eastern and Southeastern European (CESEE) countries. An innovative feature of the paper is the use of combined trade and financial weights (based on BIS reporting banks’ external position data) to capture the very close trade and financial ties of the CESEE countries with the advanced Europe countries. The results show strong co-movements in output growth and interest rates but weaker linkages bewteen inflation and real credit growth within Europe. While the euro area is the dominant source of economic influences, there are also interesting subregional linkages, e.g. between the Nordic and the Baltic countries, and a small but notable impact of CESEE countries on the rest of the Europe.
Author: Franklin Allen
Publisher: CEPR
ISBN: 1907142363
Category : Banks and banking
Languages : en
Pages : 117
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Book Description
This report argues that policy reforms in micro- and macro-prudential regulation and macroeconomic policies are needed for Europe to reap the important diversification and efficiency benefits from cross-border banking, while reducing the risks stemming from large cross-border banks.Available online as pdf at: http: //www.cepr.org/pubs/books/CEPR/cross-border_banking.pd
Author: H. Wallace
Publisher: Springer
ISBN: 023051443X
Category : Social Science
Languages : en
Pages : 371
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Book Description
European integration can no longer be understood as a west European experiment mainly focused on functional and economic policy cooperation. The issues addressed include security and defence, as well as core concerns of European society. This volume explores three interlocking dimensions of integration; functional, territorial, and affiliational. Each dimension influences how countries across the continent engage with European integration. This first volume in the One Europe or Several? series identifies the agenda of a research programme, funded by the British Economic and Social Research Council.
Author: M. Hashem Pesaran
Publisher: Oxford University Press
ISBN: 0191058475
Category : Business & Economics
Languages : en
Pages : 1443
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Book Description
This book is concerned with recent developments in time series and panel data techniques for the analysis of macroeconomic and financial data. It provides a rigorous, nevertheless user-friendly, account of the time series techniques dealing with univariate and multivariate time series models, as well as panel data models. It is distinct from other time series texts in the sense that it also covers panel data models and attempts at a more coherent integration of time series, multivariate analysis, and panel data models. It builds on the author's extensive research in the areas of time series and panel data analysis and covers a wide variety of topics in one volume. Different parts of the book can be used as teaching material for a variety of courses in econometrics. It can also be used as reference manual. It begins with an overview of basic econometric and statistical techniques, and provides an account of stochastic processes, univariate and multivariate time series, tests for unit roots, cointegration, impulse response analysis, autoregressive conditional heteroskedasticity models, simultaneous equation models, vector autoregressions, causality, forecasting, multivariate volatility models, panel data models, aggregation and global vector autoregressive models (GVAR). The techniques are illustrated using Microfit 5 (Pesaran and Pesaran, 2009, OUP) with applications to real output, inflation, interest rates, exchange rates, and stock prices.
Author: Zopounidis, Constantin
Publisher: IGI Global
ISBN: 1799824381
Category : Business & Economics
Languages : en
Pages : 385
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Book Description
In recent years, there has been a swell of investment opportunities in contemporary asset classes that have gained considerable attention, including cryptocurrencies, hedge funds, and private equity. These alternative investments provide the opportunity to enhance the diversification of financial portfolios and harvest risk premiums that traditional assets like stocks and bonds fail to provide. The emergence of these new properties has created the need to further understand the mechanics, risks, and returns of alternative investments. Recent Advances and Applications in Alternative Investments is a pivotal reference source that provides vital research on the emergence and development of complementary asset classes in the field of finance and investment. While highlighting topics such as carbon emission markets, renewable energy, and digital currencies, this publication explores modern investment strategies as well as the latest products and new types of risk. This book is ideally designed for managers, strategists, accountants, financial professionals, economists, brokers, investors, business practitioners, policymakers, researchers, and academicians seeking current research on contemporary developments in investment strategies and alternative assets.
Author: International Monetary Fund. European Dept.
Publisher: International Monetary Fund
ISBN: 1498343341
Category : Business & Economics
Languages : en
Pages : 38
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Book Description
This paper identifies policies to increase productivity in the East, reduce regional income disparities, and promote overall income convergence. Achieving this objective will require improving educational attainment and reducing skill mismatches in the East, scaling up public infrastructure to attract investment to less productive regions, and facilitating labor mobility. This paper also discusses female labor participation in Poland and the potential impact on bank profitability of the recently implemented bank asset tax. Poland’s population is aging, yet it has an important underused source of qualified labor—its women. For Poland to unleash its full economic potential, it needs to embrace the vital contribution that women can make to its economy.
Author: Anastassia Obydenkova
Publisher: Routledge
ISBN: 1317176863
Category : Political Science
Languages : en
Pages : 205
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Book Description
As the Ukrainian Crisis shows both political regimes and national borders in Eurasia are still in a state of flux. Bringing together literatures on the external influences of democratization, the post-Soviet space and support for autocracy Autocratic and Democratic External influences in Post-Soviet Eurasia provides a comprehensive overview of the interaction of domestic and international politics during times of regime transition. Demonstrating the interplay of these forces the book explores the rich variation in motives and channels of autocratic and democratic influences. International scholars consider two channels of external influence on regime transition; the role of supranational organizations established by non-democracies and the role of non-governmental organizations and through a set of carefully chosen case studies offer a new theoretical discussion on the phenomenon of multi-level regime transition.
Author: Michael Landesmann
Publisher: Springer Nature
ISBN: 3030577023
Category : Business & Economics
Languages : en
Pages : 359
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Book Description
This edited volume analyses the channels through which EU membership contributed to the convergence process of member countries in the Baltics, Central-Eastern and South-Eastern Europe. These channels include trade, investment, finance, labour, and laws and institutions. Global integration has certainly played an important role. A large part of FDI flows and financial integration in the world have been persistent features of globalization. Have these countries experienced more intensive integration through these channels because of EU membership, with its much tighter institutional and political anchorage, than their fundamentals and global trends would suggest? Contributions by lead researchers of the area address different aspects of this question. .
Author: Franca König
Publisher: Taylor & Francis
ISBN: 1000818179
Category : Political Science
Languages : en
Pages : 312
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Book Description
This book provides an in-depth empirical analysis and theoretical history of the institutional development of EU police cooperation, with a focus on the creation and integration of Europol. Presenting a thoroughly comprehensive analysis, the book systematically traces integration dynamics and the evolution of EU police cooperation over a 40-year period, assessing the influence of cross-country interdependencies, politicisation and policy entrepreneurship on Member States’ behaviour and institutional choice. By combining a wealth of sources including previously unpublished sources and personal insights from key decision-makers, it explores which driving factors shape processes of differentiation and integration in this sovereignty-sensitive policy domain, and how, and attempts to explain state preferences on international police cooperation in the light of major theories of European integration. The book will be of key interest to students, scholars and practitioners working in or on the fields of police cooperation, Justice and Home Affairs policy, EU governance and security studies, both at national and European level.
Author: Ms.Franziska Ohnsorge
Publisher: International Monetary Fund
ISBN: 1484381580
Category : Business & Economics
Languages : en
Pages : 45
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Book Description
We create a network of bilateral correlations of changes in sovereign bond yields and individual bank equity price changes since 2000. We extract some stylized facts from this network of asset price correlations and document the clear differences in asset price correlations between safe havens and non-safe havens: safe havens, as commonly defined, have higher sovereign-sovereign, bank-bank, and bank-sovereign correlations than nonsafe havens. In a simple shock propagation model, we illustrate how these higher correlations may turn safe havens into shock propagators. While we discuss safe havens as a group, we document how the US is in a category of its own, differing significantly from the other countries including Switzerland or Japan. Separately, we find that feedback loops amplify shocks, and those emanating from bank stress more than those emanating from sovereign stress.
