46 research outputs found
Currency quality and changes in the behavior of depository institutions
No full textBanks and banking
Credit exclusion in quantitative models of bankruptcy: does it matter?
No full textBankruptcy ; Credit
Testing Mundell’s Intuition of Endogenous OCA Theory
No full textThis paper presents an empirical assessment of the endogenous optimum currency area theory. Frankel and Rose (1998) study the endogeneity of a currency union through the lens of international trade flows. Our study extends Frankel and Rose's model by using FDI flows to test the original theory developed by Mundell in 1973. A gravity model is used to empirically assess the effectiveness of the convergence criteria by examining location specific advantages that guide multinational investment within the European Union. A fixed effects model based on a panel data of foreign direct investment (FDI) flows within the EU-15 shows that horizontal investment promotes the diffusion of the production process across the national border. Specifically, our results suggest that economic convergence ensured by belonging to the common currency area helps double FDI flows.economic integration, gravity model, endogenous optimum currency area
Endogenous OCA Theory: Using the Gravity Model to Test Mundell’s Intuition. CES Working paper, no.125, 2005
No full textThis paper presents an empirical assessment of the endogenous optimum currency area theory. This study relies on the original intuition developed by Mundell in 1973. The gravity model is used to empirically assess the effectiveness of the convergence criteria by examining location specific advantages that guide multinational investment within the European Union. A fixed effects model based on a panel data of foreign direct investment (FDI) flows within the EU-15 shows that horizontal investment promotes the diffusion of the production process across the national border. Specifically, the examined Maastricht criteria suggest convergence in interest rate, government fiscal policy, and debt play a significant role in attracting multinational investment
Experimental data for use with biomechanical models - volume 2. Interim report
No full textNational Highway Traffic Safety Administration, Washington, D.C.http://deepblue.lib.umich.edu/bitstream/2027.42/257/2/73145.0001.001.pd
What drives FDI from non-traditional sources? A comparative analysis of the determinants of bilateral FDI flows
No full textNon-traditional source countries of FDI play an increasingly important role, notably in developing host countries. This raises the question of whether the determinants of FDI differ systematically between traditional and non-traditional source countries. We perform Logit and Poisson Pseudo Maximum Likelihood estimations drawing on UNCTAD's database on bilateral FDI flows, including various emerging and developing countries as sources of FDI outflows. We find that economic geography variables are more relevant for FDI from non-traditional sources, while non-traditional investors appear to be as risk adverse as traditional investors. Access to raw materials represents a less important driving force of FDI from non-traditional sources. The differences are less pronounced for other types of FDI. --FDI flows,types of FDI,source-host country pairs,location choices,gravity-type models
Endogenous OCA Theory: Using the Gravity Model to Test Mundell's Intuition
No full textThis paper presents an empirical assessment of the endogenous optimum currency area theory. This study relies on the original intuition developed by Mundell in 1973. The gravity model is used to empirically assess the effectiveness of the convergence criteria by examining location specific advantages that guide multinational investment within the European Union. A fixed effects model based on a panel data of foreign direct investment (FDI) flows within the EU-15 shows that horizontal investment promotes the diffusion of the production process across the national border. Specifically, the examined Maastricht criteria suggest convergence in interest rate, government fiscal policy, and debt play a significant role in attracting multinational investment.
Strength and response of the human cadaver cervical spine under impact loading
No full textGeneral Motors Corporation, General Motors Technical Center, Warren, Mich.http://deepblue.lib.umich.edu/bitstream/2027.42/243/2/48732.0001.001.pd
