Arnaud J. Mehl

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Evidence from vector autoregressions indicates that the impact of interest rate shocks on macroeconomic aggregates can substantially be affected by the so-called cost channel of monetary transmission. In this paper we apply a structural approach to examine the relevance of the cost channel for inflation dynamics in G7 countries. Since firms’ costs of(More)
Using the 2007-2009 financial crisis as a laboratory, we analyze the transmission of crises to country-industry equity portfolios in 55 countries. We use an asset pricing framework with global and local factors to predict crisis returns, defining unexplained increases in factor loadings as indicative of contagion. We find evidence of systematic contagion(More)
In 2004 all ECB publications will feature a motif taken from the €100 banknote. Telex 411 144 ecb d All rights reserved. Reproduction for educational and non-commercial purposes is permitted provided that the source is acknowledged. The cutoff date for the statistics in this paper was January 2004.
Telex 411 144 ecb d This paper benefited from comments and suggestions made during the editorial review process, in particular by Antonio Sáinz de Vicuña, Francesco Papadia and an anonymous referee. The authors also wish to thank Boris Kisselevsky and Ivan Alves for earlier input, Stefan Wredenborg for helpful research assistance and Mark Smith for language(More)
Neurotoxic organophosphorous compounds are known to modulate their biological effects through the inhibition of a number of esterases including acetylcholinesterase (AChE), the enzyme responsible for the degradation of the neurotransmitter acetylcholine. In this light, molecular modeling studies were performed on a collection of organophosphorous(More)
Nine hundred and sixty-two postneonatal deaths for 1981-83 were matched to their birth registration forms. Deaths were divided into three categories, sudden infant death syndrome (SIDS) 65.4%, other preventable, 12.8%, and nonpreventable causes, 21.8%, to determine the rates of death as related to known and available risk factors. The risk factor profile(More)
Recent research has established a positive and causal link between financial development and economic growth in the long run. For this reason, financial sector reform has been regarded as conducive to faster growth in transition countries. In Southeast Europe, however, reform efforts in the first half of the 1990s failed to prevent inflationary finance in(More)
  • Marcel Fratzscher, Ettore Dorrucci, +10 authors Roland Straub
  • 2009
Abstract The paper assesses the extent to which the Group of Seven (G7) has been successful in its management of major currencies since the 1970s. Using an event-study approach, the paper finds evidence that the G7 has been overall effective in moving the US dollar, yen and euro in the intended direction at horizons of up to three months after G7 meetings,(More)
We analyze the transmission of the financial crisis of 2007 to 2009 to 415 country-industry equity portfolios. We use a factor model to predict crisis returns, defining unexplained increases in factor loadings and residual correlations as indicative of contagion. While we find evidence of contagion from the U.S. and the global financial sector, the effects(More)