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849 results, from 711
  • Diskussionspapiere 819 / 2008

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

    The real interest partity (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 ...

    2008| Christian Dreger
  • Externe Monographien

    Corporate Debt Maturity Choice in Transition Financial Markets

    Jönköping: CESIS, 2008, 36 S.
    (CESIS Electronic Working Paper Series ; 125)
    | Andreas Stephan, Oleksandr Talavera, Andriy Tsapin
  • Diskussionspapiere 864 / 2009

    European Financial Market Integration: A Closer Look at Government Bonds in Eurozone Countries

    The European Union made a number of steps not least of them the introduction of a common currency to foster the integration of the European financial markets. A number of papers have tried to gauge the degree of integration for various financial markets looking at the convergence of interest rates. A common finding is that government bond markets are quite well integrated. In this paper stochastic ...

    2009| Sebastian Weber
  • Diskussionspapiere 872 / 2009

    The Role of Asset Markets for Private Consumption: Evidence from Paneleconometric Models

    We explore the long and short run relationship between private consumption, disposable income and housing and financial wealth approximated by price indices for a panel of industrialized countries. Consumption, income and wealth are cointegrated in their common, but not in their idiosyncratic components. This stresses the relevance of inter-national spillovers to explain aggregate consumption behaviour. ...

    2009| Christian Dreger, Hans-Eggert Reimers
  • Diskussionspapiere 873 / 2009

    Volatility Spillovers and Contagion from Mature to Emerging Stock Markets

    This paper examines volatility spillovers from mature to emerging stock markets and tests for changes in the transmission mechanism-contagion-during turbulences in mature markets. Tri-variate GARCH-BEKK models of returns in global (mature), regional, and local markets are estimated for 41 emerging market economies (EMEs), with a dummy capturing parameter shifts during turbulent episodes. LR tests suggest ...

    2009| John Beirne, Guglielmo Maria Caporale, Marianne Schulze-Ghattas, Nicola Spagnolo
  • Diskussionspapiere 193 / 2000

    Banking Crises in Transition Countries - Theory and Empirical Evidence: The Case of Russia

    Das Papier gibt zunächst einen Überblick über die Ursachen und ökonomischen Kosten der Bankenkrise in Rußland, die im Jahr 1998 ausbrach. Eine Analyse des Verhaltens russischer Banken im Zeitraum 1998 bis 1999 zeigt, daß diese sich relativ konservativ bezüglich ihrer Kreditvergabe verhielten. Dies kann ein überraschendes Ergebnis sein aus folgenden Gründen: Die Bankenaufsicht hatte bisher eine relativ ...

    2000| Ulrich Thießen
  • Diskussionspapiere 220 / 2000

    Fiscal Federalism and Financial Resources for Regional Development - Co-operative and Competitive Models: The International Experience - an Example for Russia?

    In Western economies, the concrete design of fiscal federalism is determined by the status the federation grants to regionally comparable economic and social conditions, and to what extent this status is anchored in the constitution. If the political and social acceptance of regional differences is high, the significance of regional equalisation is low and vice versa. In the case of great regional ...

    2000| Bernhard Seidel, Mechthild Schrooten
  • FINESS Working Papers 1.1c / 2008

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

    The real interest partity (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 ...

    2008| Christian Dreger
  • FINESS Working Papers 1.2 / 2009

    Financial Convergence in the New EU Member States

    In this paper we explore the issue of financial convergence in the new EU member states (NMS). For the purposes of our analysis the countries falling into the category NMS are Bulgaria, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia, i.e. all countries that joined the EU in the last decade, except Cyprus and Malta.

    2009| Kalin Hristov, Rossen Rozenov
  • FINESS Working Papers 1.1d / 2009

    The Financial Integration of the European Union: Common and Idiosyncratic Drivers

    The purpose of this paper is to establish how far the process of financial integration has gone in the European Union. There is growing evidence that the appearance of the Euro has accelerated the integration of a number of financial markets among those countries who have adopted the Euro. We identify the growth in financial integration as the process by which idiosyncratic factors at the national ...

    2009| Chris Higson, Sean Holly, Ivan Petrella
849 results, from 711
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