By Filippo di Mauro, Marco J Lombardi, Stephane Dees

Ancient cross-country interactions, this publication examines the position of the USA on the earth economic system. Illustrating that US shocks are inclined to have an international nature and that financial Union simply partly shelters the Euro quarter from its exterior atmosphere, the e-book argues that the U.S. should still totally suppose its accountability, minimizing surprise transmission.

Show description

Read or Download Catching the Flu from the United States: Synchronisation and Transmission Mechanisms to the Euro Area PDF

Best american studies books

America and the political philosophy of common sense

From Aristotle to Thomas Jefferson, seminal thinkers have declared 'common feel' crucial for ethical discernment and civilized dwelling. but the tale of common sense philosophy isn't popular at the present time. In "America and the Political Philosophy of universal Sense", Scott Segrest strains the background and explores the non-public and social that means of good judgment as understood in particular in American inspiration and as mirrored particularly within the writings of 3 paradigmatic thinkers: John Witherspoon, James McCosh, and William James.

John Adams (United States Presidents)

An easy biography of the second one president of the USA, from his youth and schooling in Massachusetts to his marriage to Abigail Smith and his position within the country's early background.

Why Not Parties?: Party Effects in the United States Senate

Contemporary learn at the U. S. condominium of Representatives mostly specializes in the results of partisanship, however the strikingly much less common stories of the Senate nonetheless are inclined to deal with events as secondary concerns in a chamber that provides its participants way more person leverage than congressmen have. in line with the hot elevate in senatorial partisanship, Why now not events?

Extra info for Catching the Flu from the United States: Synchronisation and Transmission Mechanisms to the Euro Area

Sample text

Kydland, F. and E. Prescott, 1982, ‘Time To Build and Aggregate Fluctuations’, Econometrica, 50, 1345–70. indd 16 5/7/2010 1:06:31 PM Introduction 17 McKibbin, W. and A. Stoeckel, 2009, ‘The Potential Effects of the Global Financial Crisis on World Trade’, World Bank Policy Research Working paper 5134, World Bank: Washington DC. Obstfeld, M. and K. Rogoff, 2002, ‘Global Implications of Self-Oriented National Monetary Rules’, Quarterly Journal of Economics, 117 (2), 503–35. , T. M. Weiner, 2004, ‘Modelling Regional Interdependencies Using a Global Errorcorrecting Macroeconometric Model’, Journal of Business and Economic Statistics, 22, 129–62.

And E. Prescott, 1982, ‘Time To Build and Aggregate Fluctuations’, Econometrica, 50, 1345–70. indd 16 5/7/2010 1:06:31 PM Introduction 17 McKibbin, W. and A. Stoeckel, 2009, ‘The Potential Effects of the Global Financial Crisis on World Trade’, World Bank Policy Research Working paper 5134, World Bank: Washington DC. Obstfeld, M. and K. Rogoff, 2002, ‘Global Implications of Self-Oriented National Monetary Rules’, Quarterly Journal of Economics, 117 (2), 503–35. , T. M. Weiner, 2004, ‘Modelling Regional Interdependencies Using a Global Errorcorrecting Macroeconometric Model’, Journal of Business and Economic Statistics, 22, 129–62.

The analysis shows that using cross-country frameworks that capture correlations across countries’ business cycle phases helps to quantify conditional probabilities of recession. Next, we employ a nonlinear threshold VAR to assess the impact of credit conditions in explaining co-movements and the impact of monetary policy across different regimes. Overall, over business cycle frequency, financial variables do not seem to play a significant role in explaining cross-country correlations in real output.

Download PDF sample

Rated 4.86 of 5 – based on 39 votes