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This study reveals how a Korean monetary transmission mechanism evolves in the tumultuous decade of the 1990s. We show that (i) contractionary monetary policy shocks have more explanatory power for the post-crisis periods than for the pre-crisis period; (ii) the effects on output from external shocks attributed to the oil price and the U.S. federal fund rates are mixed; (iii) there is little positive spillover effect from the U.S. to Korea through the trade channel; and (iv) there is a positive spillover effect from the international capital market channel.
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Since 9/11, investigations into the al-Qaeda financial network have led to several notable successes in the United States and Europe. Much of this ach...
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To: NATIONAL EDITORS
Contact: Lisa Mendelson, +1-202-777-3561, lmendelson@clsdc.com
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WASHINGTON -- Preliminary financial highlights released today on the 2010 performance of Federal Home Loan Banks demonstrate the 12 cooperatives remai...
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As the 18,000-seat BOK Center marks its first anniversary, the Mayo Hotel opens with 76 condominiums, and Oneok Field ballpark construction passes the topping-out point, downtown Tulsa developers, residents and workers look not only to complete a dynamic decade of change, but to finalize a plan for the next decade's growth and beyond.
The prime stimulus, according to The Journal Record Tulsa Roundtable, could depend on Tulsa financial leaders creating their own stimulus plan - a funding mechanism to jump-start downtown residential development.
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Americans often view the European Union as a single entity, a unified collection of 27 member states as portrayed by its leaders. This veneer of unity masks deep-seated tensions and economic and political differences. The European debt crisis has exposed a great divide between economic powerhouses such as Germany and poorer neighbors such as Greece, currently sinking in a sea of debt. This has prompted Germany, backed by the French, to seek a new treaty to give the EU greater control over its members' finances. Berlin and Paris are dreaming, however, if they think a piece of paper will keep the eurozone together.
The agreement reached in Brussels last week by leaders of all but one EU country (the United Kingdom) aims to create a European "fiscal union," with binding limits on each coun...
...'t secure concessions protecting its financial services sector. Sweden, Hungary and the Czech Rep...
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HARRISBURG, Pa., Nov. 1, 2010 /PRNewswire-USNewswire/ -- The Pennsylvania Infrastructure Investment Authority (PENNVEST), working closely with the Department of Environmental Protection and representatives of the Chicago Climate Exchange, held its first auction for nutrient credits on Oct. 28 and 29. Credits representing the annual removal of 21,000 pounds of nitrogen from the Susquehanna River watershed and the Chesapeake Bay over each of the next three years were sold for a price of $3.04 per credit.
This first auction demonstrates the viability of the financial mechanism that we have developed to aid in improving the waters of the Chesapeake Bay," said Paul Marchetti, PENNVEST executive director. "This auction was a significant first step forward in our plan to foster trades in the ...
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The market movements that led to the European Exchange Rate Mechanism's demise in 1992, the Mexican peso devaluation in 1994, the Asian financial crisis in 1997-98, and the near collapse of Long-Term Capital Management (LTCM) in 1998 demonstrated the possibility of such actions.