1,721,060 research outputs found
Il contestuale verificarsi di crisi di cambio e di crisi bancarie: il caso del Messico (1994) e dei Paesi del Sud Est asiatico
No full text
Trade liberalization, investment and growht
No full textThis article presents five theoretical openness and growth links that can account for trade-induced investment led growth. The links are all demonstrated with a neoclassical growth model developed in the context of trade models that allow for imperfect competition and scale economies. This sort of old growth theory in a new trade model has not been thoroughly explored in the literature since the profession skipped from old-growth-old-trade models straigth to new-growth-new-trade models. Nonetheless, such models are necessary to explain several key aspects of the econometric evidence on trade and growth. For example, cross-country data suggests that openness influences growth only via its effects on investment, and suggests that openness promotes investment in all countries whatever the capital-intensity of their exports (contrary to the prediction of old-growth-old-trade models)
Fiscal capacity and the risk of sovereign debt after the Glorious Revolution: a reinterpretation of the North-Weingast hypothesis
No full textThe interwar international monetary disorder: an international political economy approach
No full textThe lack of cooperation between central banks is the most widely
accepted interpretation of the collapse of the gold-exchange standard.
This explanation does not take account of the evolution of systems
of payment: national commodity moneys were progressively replaced by
fiduciary money. These changes were incompatible with the functioning of
the classical gold standard. There was need, also at the international level,
of greater elasticity of money supply. The gold-exchange standard was such
an attempt. However, an international convertible money, to be accepted,
presupposes the existence of an institutional framework that guarantees its
value. This can only occur under certain conditions. The prevalence of a
multilateral equilibrium in international relations impeded the existence of an
international money with a high level of fiduciary content
L’attribuzione della vigilanza bancaria alla BCE: un approccio di political economy
No full textAll’atto della sua costituzione alla BCE non fu concessa, accanto alla funzione monetaria,
la responsabilità della vigilanza bancaria. La crisi finanziaria del 2008-2009 e
quella del debito sovrano del 2010-2011 hanno indotto policymakers e economisti a riconsiderare
la questione. In questo contributo si ripercorre il processo attraverso cui si
è pervenuti ad attribuire le funzioni di vigilanza alla BCE. Tale processo è presentato
come l’esito di un negoziato tra diversi attori politici. Nel loro interagire questi attori
possono dar luogo ad alleanze e coalizioni. Come gli altri attori politici anche le istituzioni
internazionali vivono di fasi in cui il loro potere aumenta e fasi in cui il loro potere
diminuisce. In occasione delle recenti crisi finanziarie la BCE ha svolto un ruolo
cruciale per la preservazione dell’integrità dell’Eurozona. A seguito di ciò la sua in-
fluenza politica è sensibilmente aumentata. Sfruttando anche questo fattore la BCE ha
potuto estendere il suo potere acquisendo la responsabilità della vigilanza sulle banche
dell’Eurozona
Le ragioni finanziarie della crisi delle banche meridionali. Indicazioni per la politica di vigilanza
No full textEstimation of reduced form inflation equations for most OECD countries
No full textOECD working paper, July 199
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