Details about Frank Westermann

Homepage:	http://www.wipo.uni-osnabrueck.de/en/7005.htm
Workplace:	CESifo, (more information at EDIRC) Institut für Empirische Wirtschaftsforschung (Institute of Empirical Economic Research), Fachbereich Wirtschaftswissenschaften (School of Business Administration and Economics), Universität Osnabrück (University of Osnabruck), (more information at EDIRC)

Access statistics for papers by Frank Westermann.

Last updated 2023-04-19. Update your information in the RePEc Author Service.

Short-id: pwe84

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Working Papers

2021

1. Development aid and illicit capital flight: Evidence from Nepal
   VfS Annual Conference 2021 (Virtual Conference): Climate Economics, Verein für Socialpolitik / German Economic Association View citations (2)
   Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2021) View citations (4)
   See also Journal Article in The World Economy (2022)
2. On Optimal Currency Areas and Common Cycles: Are the Acceding Countries Ready to Join the Euro?
   IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University
   Also in CESifo Working Paper Series, CESifo (2021)

2020

3. Chinese Exchange Rate Policy: Lessons for Global Investors
   CESifo Working Paper Series, CESifo
   See also Journal Article in Journal of Money, Credit and Banking (2022)
4. The Evolution of Offshore Renminbi Trading: 2016 to 2019
   IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University
   Also in GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2020)
   CESifo Working Paper Series, CESifo (2020)
   See also Journal Article in Journal of International Money and Finance (2021)

2019

5. A Tale of Two Surplus Countries: China and Germany
   IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (2)
   Also in GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2019)
   CESifo Working Paper Series, CESifo (2019) View citations (5)
   See also Journal Article in Open Economies Review (2020)
6. Capital Flight to Germany: Two Alternative Measures
   IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (1)
   See also Journal Article in Journal of International Money and Finance (2020)

2018

7. Evergreening in the Euro Area: Facts and Explanation
   IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (4)
8. Systemic Crisis and Growth Revisited: Has the Global Financial Crisis Marked a New Era?
   IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (2)
   Also in CESifo Working Paper Series, CESifo (2018) View citations (2)
   GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit (2018)
   See also Journal Article in Economics Letters (2018)

2017

9. Exit Strategies, Capital Flight and Speculative Attacks: Europe's Version of the Trilemma
   IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (5)
   Also in CESifo Working Paper Series, CESifo (2017) View citations (2)
   See also Journal Article in European Journal of Political Economy (2019)
10. On Creditor Seniority and Sovereign Bond Prices in Europe
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (11)
    Also in VfS Annual Conference 2013 (Duesseldorf): Competition Policy and Regulation in a Global Economic Order, Verein für Socialpolitik / German Economic Association (2013) View citations (4)
    CESifo Working Paper Series, CESifo (2012) View citations (18)
11. On Remittances, Foreign Currency Exposure and Credit Constraints: Evidence from Nepal
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (1)
    Also in VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy, Verein für Socialpolitik / German Economic Association (2015)
    CESifo Working Paper Series, CESifo (2014) View citations (1)
12. The Euro Area's Common Pool Problem Revisited: Has the Single Supervisory Mechanism Ameliorated Forbearance and Evergreening
    CESifo Working Paper Series, CESifo View citations (8)
    Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2017) View citations (8)

2016

13. China's capital flight: Pre- and post-crisis experiences
    Santa Cruz Department of Economics, Working Paper Series, Department of Economics, UC Santa Cruz View citations (4)
    Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2015) View citations (4)
    CESifo Working Paper Series, CESifo (2015) View citations (4)
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
    See also Journal Article in Journal of International Money and Finance (2016)
14. Multilateral Loans and Interest Rates: Further Evidence on the Seniority Conundrum
    CESifo Working Paper Series, CESifo
    Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2016)
    GRU Working Paper Series, City University of Hong Kong, Department of Economics and Finance, Global Research Unit
    See also Journal Article in International Journal of Finance & Economics (2017)

2014

15. Discussion of "Target2 and Central Bank Balance Sheets"
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (6)
16. Wie bilanziert die EZB Ein Kommentar zur Bilanzausweitung der Europäischen Zentralbank
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University

2013

17. On the Size of Fiscal Multipliers: A Counterfactual Analysis
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University
    See also Journal Article in Economics Letters (2014)

2012

18. The Tragedy of the Commons and Inflation Bias in the Euro Area
    CESifo Working Paper Series, CESifo View citations (2)
    Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2012) View citations (4)
    See also Journal Article in Open Economies Review (2014)

2011

19. Does the Introduction of IFRS Change the Timeliness of Loss Recognition? Evidence from German Firms
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (1)
20. Financial Development and Sectoral Output: Growth in 19th Century Germany
    Proceedings of the German Development Economics Conference, Berlin 2011, Verein für Socialpolitik, Research Committee Development Economics
    Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2010)
    CESifo Working Paper Series, CESifo (2010)

2010

21. A Note on the Time Series Measure of Conservatism
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (1)
    Also in CESifo Working Paper Series, CESifo (2010) View citations (1)
22. How Strong is the Case for Dollarization in Central America? An Empirical Analysis of Business Cycles, Credit Market Imperfections and the Exchange Rate
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (3)
    See also Journal Article in International Journal of Finance & Economics (2012)

2009

23. Common Trends and Common Cycles among Interest Rates of the G7-Countries
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University View citations (4)
    Also in CESifo Working Paper Series, CESifo (2009) View citations (4)
    See also Journal Article in Journal of Macroeconomics (2012)
24. Credit market imperfections, financial market regulation and business cycles in Eastern Europe
    Proceedings of the German Development Economics Conference, Frankfurt a.M. 2009, Verein für Socialpolitik, Research Committee Development Economics
25. How Strong is the Case for Dollarization in Costa Rica? A Note on the Business Cycle Comovements with the United States
    CESifo Working Paper Series, CESifo
    Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2009)

2008

26. An Analysis of Aggregate Lending in Japan
    IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University
27. Systemic Crises and Growth
    Post-Print, HAL View citations (152)
    Also in PSE-Ecole d'économie de Paris (Postprint), HAL (2008) View citations (124)
    Working Papers, Barcelona School of Economics (2003) View citations (21)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (24)
    CESifo Working Paper Series, CESifo (2005) View citations (20)
    Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2004) View citations (8)
    See also Journal Article in The Quarterly Journal of Economics (2008)

2006

28. Decomposing the Effects of Financial Liberalization: Crises vs. Growth
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (130)
    Also in IEER Working Papers, Institute of Empirical Economic Research, Osnabrueck University (2006) View citations (122)
    See also Journal Article in Journal of Banking & Finance (2006)
29. Decomposing the Effects of Finncial Liberalization: Growth vs. Crises
    Post-Print, HAL View citations (74)

2005

30. The Great Japanese Stagnation: Lessons for Industrial Countries
    EPRU Working Paper Series, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics View citations (1)

2004

31. Crises and Growth: A Re-Evaluation
    CESifo Working Paper Series, CESifo View citations (12)
    Also in Economics Working Papers, Department of Economics and Business, Universitat Pompeu Fabra (2003) View citations (35)
    UCLA Economics Working Papers, UCLA Department of Economics (2004) View citations (2)
    2004 Meeting Papers, Society for Economic Dynamics (2004) View citations (2)
    NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (48)
32. NAFTA and Mexico's Economic Performance
    CESifo Working Paper Series, CESifo View citations (5)
33. NAFTA and Mexico's Less-Than-Stellar Performance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (23)
    Also in UCLA Economics Working Papers, UCLA Department of Economics (2004) View citations (12)
34. The Positive Link Between Financial Liberalization Growth and Crises
    UCLA Economics Working Papers, UCLA Department of Economics View citations (68)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2004) View citations (73)
    CESifo Working Paper Series, CESifo (2004) View citations (68)

2003

35. Credit Market Imperfections in Middle Income Countries
    CESifo Working Paper Series, CESifo View citations (49)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (53)
36. The Credit Channel in Middle Income Countries
    CESifo Working Paper Series, CESifo View citations (12)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (29)

2002

37. Boom-Bust Cycles in Middle Income Countries: Facts and Explanation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (133)
    Also in CESifo Working Paper Series, CESifo (2002) View citations (131)
    See also Journal Article in IMF Staff Papers (2002)

2001

38. Equity Price Dynamics Before and After the Introduction of the Euro
    Discussion Papers in Economics, University of Munich, Department of Economics View citations (10)
39. Equity Price Dynamics Before and After the Introduction of the Euro: A Note
    CESifo Working Paper Series, CESifo View citations (12)
    See also Journal Article in Multinational Finance Journal (2001)
40. Factor Price Equalization? The Cointegration Approach Revisited
    CESifo Working Paper Series, CESifo View citations (4)
    See also Journal Article in Review of World Economics (Weltwirtschaftliches Archiv) (2001)
41. Sectoral Trends and Cycles in Germany
    CESifo Working Paper Series, CESifo
    See also Journal Article in Empirical Economics (2003)
42. Two Mezzogiornos
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (27)
    Also in CESifo Working Paper Series, CESifo (2000) View citations (17)
43. Why Has the Euro Been Falling?
    CESifo Working Paper Series, CESifo View citations (41)
44. Why Has the Euro Been Falling? An Investigation into the Determinants of the Exchange Rate
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)

2000

45. Optimal Tariffs and Subsidies And Changes in Markets Structure
    CESifo Working Paper Series, CESifo
    See also Journal Article in Review of Development Economics (2004)

1999

46. Output Dynamics of the G7 Countries - Stochastic Trends and Cyclical Movements
    CESifo Working Paper Series, CESifo View citations (7)
    See also Journal Article in Applied Economics (2002)

Journal Articles

2022

1. An introduction to the special issue “Financial globalization and de-globalization: Perspectives and prospects”
   Journal of International Money and Finance, 2022, 122, (C)
2. Chinese Exchange Rate Policy: Lessons for Global Investors
   Journal of Money, Credit and Banking, 2022, 54, (1), 145-168
   See also Working Paper (2020)
3. Development aid and illicit capital flight: Evidence from Nepal
   The World Economy, 2022, 45, (7), 2305-2336
   See also Working Paper (2021)

2021

4. Evergreening in the Euro Area: Evidence from Survey Data and a Conceptual Framework
   CESifo Economic Studies, 2021, 67, (1), 1-34 View citations (3)
5. The evolution of offshore renminbi trading: 2016 to 2019
   Journal of International Money and Finance, 2021, 113, (C) View citations (1)
   See also Working Paper (2020)

2020

6. A Tale of Two Surplus Countries: China and Germany
   Open Economies Review, 2020, 31, (1), 131-158 View citations (3)
   See also Working Paper (2019)
7. Are Debt Sustainability Indicators Based on Time-Series Data Useful for Predicting Crises?
   FinanzArchiv: Public Finance Analysis, 2020, 76, (2), 146-164
8. Capital flight to Germany: Two alternative measures
   Journal of International Money and Finance, 2020, 102, (C) View citations (7)
   See also Working Paper (2019)

2019

9. Exit strategies, capital flight and speculative attacks: Europe's version of the trilemma
   European Journal of Political Economy, 2019, 59, (C), 83-96 View citations (6)
   See also Working Paper (2017)
10. Symposia on Challenges for Emerging Asia: Capital Flows and Quality Growth
    Pacific Economic Review, 2019, 24, (2), 185-186

2018

11. Do Foreign Currency Accounts Help Relax Credit Constraints? Evidence from Nepal
    Pacific Economic Review, 2018, 23, (3), 464-489 View citations (3)
12. Systemic crisis and growth revisited: Has the global financial crisis marked a new era ?
    Economics Letters, 2018, 170, (C), 50-54 View citations (2)
    See also Working Paper (2018)
13. Vorstellung der Thesen von Hans-Werner Sinn: Europa: So oder so – eine Einführung in die Themen und Thesen
    ifo Schnelldienst, 2018, 71, (18), 54-56

2017

14. Multilateral Loans and Interest Rates: Further Evidence on the Seniority Conundrum
    International Journal of Finance & Economics, 2017, 22, (2), 169-178
    See also Working Paper (2016)
15. The Seniority Conundrum – Further Evidence
    CESifo Forum, 2017, 18, (02), 63-65

2016

16. China's capital flight: Pre- and post-crisis experiences
    Journal of International Money and Finance, 2016, 66, (C), 88-112 View citations (16)
    See also Working Paper (2016)
17. The European Monetary System: Deficits and Cures
    ifo Schnelldienst, 2016, 69, (09), 18-24 View citations (1)

2015

18. Bildung einer Fiskalunion: Ein wirkungsvolles Instrument zur Stabilisierung der Eurozone?
    ifo Schnelldienst, 2015, 68, (20), 03-16

2014

19. On the size of fiscal multipliers: A counterfactual analysis
    Economics Letters, 2014, 123, (1), 26-32 View citations (6)
    See also Working Paper (2013)
20. The Tragedy of the Commons and Inflation Bias in the Euro Area
    Open Economies Review, 2014, 25, (1), 71-91 View citations (4)
    See also Working Paper (2012)
21. The role of creditor seniority in Europe's sovereign debt crisis
    (What is the risk of European sovereign debt defaults? Fiscal space, CDS spreads and market pricing of risk)
    Economic Policy, 2014, 29, (79), 495-552 View citations (16)

2013

22. On the time series measure of conservatism: a threshold autoregressive model
    Review of Quantitative Finance and Accounting, 2013, 41, (1), 111-129 View citations (1)

2012

23. Common trends and common cycles among interest rates of the G7-countries
    Journal of Macroeconomics, 2012, 34, (4), 1125-1140 View citations (3)
    See also Working Paper (2009)
24. Financial development and sectoral output growth in nineteenth-century Germany1
    Financial History Review, 2012, 19, (2), 149-174 View citations (7)
25. Greece: The Sudden Stop That Wasn’t
    CESifo Forum, 2012, 13, (1), 102-103 View citations (6)
26. How strong is the case for dollarization in Central America? An empirical analysis of business cycles, credit market imperfections and the exchange rate
    International Journal of Finance & Economics, 2012, 17, (2), 147-166 View citations (3)
    See also Working Paper (2010)
27. Linkages between Sectoral Output Growth and Financial Development in Nepal
    NRB Economic Review, 2012, 24, (2), 15-30 View citations (3)

2008

28. Systemic Crises and Growth
    The Quarterly Journal of Economics, 2008, 123, (1), 359-406 View citations (204)
    See also Working Paper (2008)

2006

29. Decomposing the effects of financial liberalization: Crises vs. growth
    Journal of Banking & Finance, 2006, 30, (12), 3331-3348 View citations (141)
    See also Working Paper (2006)
30. Due "Mezzogiorni"
    L'industria, 2006, (1), 49-52

2005

31. Eine ökonomische Nachbetrachtung der Münchner Hochhausabstimmung
    ifo Schnelldienst, 2005, 58, (01), 40

2004

32. Does the Euro affect the dynamic interactions of stock markets in Europe? Evidence from France, Germany and Italy
    The European Journal of Finance, 2004, 10, (2), 139-148 View citations (13)
33. Globalización, crecimiento y crisis financieras. Lecciones de México y del mundo en desarrollo
    El Trimestre Económico, 2004, LXXI (2), (282), 251-351 View citations (1)
34. Konjunkturelle Auswirkungen des Vorziehens der Steuerreform
    ifo Schnelldienst, 2004, 57, (01), 25-30
35. On Assisting Domestic Industries under Bertrand Competition
    Review of International Economics, 2004, 12, (3), 435-440
36. Optimal Tariffs and Subsidies and Changes in Market Structure
    Review of Development Economics, 2004, 8, (3), 406-412 View citations (4)
    See also Working Paper (2000)
37. Wie groß ist der Keynesianische Multiplikator in Deutschland?
    ifo Schnelldienst, 2004, 57, (11), 54-55

2003

38. Liberalization, Growth, and Financial Crises: Lessons from Mexico and the Developing World
    Brookings Papers on Economic Activity, 2003, 34, (2), 1-112 View citations (51)
39. Sectoral trends and cycles in Germany
    Empirical Economics, 2003, 28, (1), 141-156 View citations (5)
    See also Working Paper (2001)
40. Whether to Choose Tariffs or Subsidies to Protect a Domestic Industry
    Journal of Economic Integration, 2003, 18, 150-163
41. Zur Kreditklemme: Ein Vergleich zwischen Japan und Deutschland
    ifo Schnelldienst, 2003, 56, (01), 33-37

2002

42. Boom-Bust Cycles in Middle Income Countries: Facts and Explanation
    IMF Staff Papers, 2002, 49, (Special issue), 111-155 View citations (121)
    See also Working Paper (2002)
43. Output dynamics of the G7 countries--stochastic trends and cyclical movements
    Applied Economics, 2002, 34, (18), 2239-2247 View citations (14)
    See also Working Paper (1999)
44. Productivity Convergence in European Manufacturing
    Review of International Economics, 2002, 10, (2), 313-323 View citations (14)
45. Stochastic Trends and Cycles in National Stock Market Indices: Evidence from the U.S., the U.K. and Switzerland
    Swiss Journal of Economics and Statistics (SJES), 2002, 138, (III), 317-328 View citations (6)

2001

46. Die D-Mark in Osteuropa, das Schwarzgeld und der Euro: Zur Größe des Effektes
    ifo Schnelldienst, 2001, 54, (19), 18-23
47. Equity Price Dynamics Before and After the Introduction of the Euro: A Note
    Multinational Finance Journal, 2001, 5, (2), 113-128 View citations (9)
    See also Working Paper (2001)
48. Factor price equalization? The cointegration approach revisited
    Review of World Economics (Weltwirtschaftliches Archiv), 2001, 137, (3), 525-536 View citations (4)
    See also Working Paper (2001)
49. On the Welfare Equivalence of Tariffs and Quotas under Duopoly
    Swiss Journal of Economics and Statistics (SJES), 2001, 137, (II), 171-182
50. The Deutschmark in Eastern Europe, Black Money and the Euro: On the Size of the Effect
    CESifo Forum, 2001, 2, (03), 35-40 View citations (6)

2000

51. Does Austria Respond to the German or the US Business Cycle?
    International Journal of Finance & Economics, 2000, 5, (1), 33-42 View citations (7)

1999

52. An analysis of German effects on the Austrian business cycle
    Review of World Economics (Weltwirtschaftliches Archiv), 1999, 135, (3), 522-531 View citations (6)

Books

2005

1. Boom-Bust Cycles and Financial Liberalization, vol 1
   MIT Press Books, The MIT Press View citations (102)
   Also in MIT Press Books, The MIT Press (2005) View citations (1)

2001

2. Finanzpolitik im Spannungsfeld des europäischen Stabilitäts- und Wachstumspaktes: zwischen gesamtwirtschaftlichen Erfordernissen und wirtschafts- und finanzpolitischem Handlungsbedarf
   ifo Beiträge zur Wirtschaftsforschung, ifo Institute - Leibniz Institute for Economic Research at the University of Munich View citations (4)

Edited books

2017

1. International Currency Exposure, vol 1
   MIT Press Books, The MIT Press View citations (2)

2009

2. Designing the European Model
   Palgrave Macmillan Books, Palgrave Macmillan View citations (2)

2006

3. Japan's Great Stagnation: Financial and Monetary Policy Lessons for Advanced Economies, vol 1
   MIT Press Books, The MIT Press View citations (6)

Chapters

2009

1. Introduction
   Palgrave Macmillan