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Garcia Pascual, Antonio

Works: 10 works in 48 publications in 1 language and 205 library holdings
Roles: Author
Classifications: HB1, 330.072
Publication Timeline
Publications about Antonio Garcia Pascual
Publications by Antonio Garcia Pascual
Most widely held works by Antonio Garcia Pascual
Empirical exchange rate models of the nineties : are any fit to survive? by Yin-Wong Cheung( Book )
19 editions published between 2002 and 2004 in English and held by 104 libraries worldwide
Abstract: Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970's vintage. The canonical papers in this literature are by Meese and Rogoff (1983, 1988), who examined monetary and portfolio balance models. Succeeding works by Mark (1995) and Chinn and Meese (1995) focused on similar models. In this paper we re-assess exchange rate prediction using a wider set of models that have been proposed in the last decade: interest rate parity, productivity based models, and behavioral equilibrium exchange rate' models. The performance of these models is compared against a benchmark model the Dornbusch-Frankel sticky price monetary model. The models are estimated in error correction and first-difference specifications. Rather than estimating the cointegrating vector over the entire sample and treating it as part of the ex ante information set as is commonly done in the literature, we recursively update the cointegrating vector, thereby generating true ex ante forecasts. We examine model performance at various forecast horizons (1 quarter, 4 quarters, 20 quarters) using differing metrics (mean squared error, direction of change), as well as the consistency' test of Cheung and Chinn (1998). No model consistently outperforms a random walk, by a mean squared error measure; however, along a direction-of-change dimension, certain structural models do outperform a random walk with statistical significance. Moreover, one finds that these forecasts are cointegrated with the actual values of exchange rates, although in a large number of cases, the elasticity of the forecasts with respect to the actual values is different from unity. Overall, model/specification/currency combinations that work well in one period will not necessarily work well in another period
The use of mortgage covered bonds by Renzo G Avesani( file )
6 editions published in 2007 in English and held by 39 libraries worldwide
The rapid mortgage credit growth experienced in recent years in mature and emerging countries has raised some stability concerns. Many European credit institutions in mature markets have reacted by increasing securitization, particularly via mortgage covered bonds. From the issuer's perspective, these instruments have become an attractive funding source and a tool for assetliability management; from the investor's perspective, covered bonds enjoy a favorable risk-return profile and a very liquid market. In this paper, we examine the two largest "jumbo" covered bond markets, Germany and Spain. We show how movements in covered bond prices can be used to analyze the credit developments of the underlying issuer and the quality of its mortgage portfolio. Our analysis also suggests that mortgage covered bonds could be of interest to other mature and emerging markets facing similar risks related to mortgage credit
Market structure, technology spillovers, and persistence in productivity differentials by Yin-Wong Cheung( Book )
4 editions published in 2001 in English and held by 17 libraries worldwide
Productivity differences in OECD countries by Antonio Garcia Pascual( Book )
5 editions published in 2000 in English and held by 15 libraries worldwide
Testing for output convergence : a re-examination by Yin-Wong Cheung( Book )
6 editions published in 2000 in English and held by 15 libraries worldwide
Productivity convergence in European manufacturing by Antonio Garcia Pascual( Book )
2 editions published in 2000 in English and held by 5 libraries worldwide
Productivity convergence a panel data approach in the presence of cross country correlation by Antonio Garcia Pascual( Book )
2 editions published in 1998 in English and held by 4 libraries worldwide
On productivity convergence in European manufacturing by Antonio Garcia Pascual( Book )
2 editions published in 1998 in English and held by 4 libraries worldwide
On productivity convergence by Antonio Garcia Pascual( Archival Material )
1 edition published in 1999 in English and held by 2 libraries worldwide
The Greek crisis: Causes and consequences by Antonio Garcia Pascual( file )
1 edition published in 2011 in English and held by 0 libraries worldwide
Greece has reached a point where, under any plausible macroeconomic scenario, public debt will continue growing faster than GDP. Fiscal consolidation alone cannot close the solvency gap. A substantial reduction in the stock of debt is needed. Even post-debt restructuring, there is no guarantee that the government will succeed in its dual goal of restoring fiscal solvency and closing the competitiveness gap. Yet we think Greece stands a better chance of accomplishing these goals from inside the EMU rather than outside it. This chapter takes stock of the factors that led to the explosion of public debt, the loss of competitiveness, and the failure of the first EU-IMF programme. We also present our views on the likely debt restructuring (and post-restructuring) scenarios
Alternative Names
Garcia-Pascual, Antonio
Garcia Pascual, Antonio I.
Pascual, Antonio
Pascual, Antonio Garcia
English (48)
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