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Productivity and the Euro-Dollar Exchange Rate Puzzle

Alquist, Ron - 2002

This paper documents the evidence for a productivity based model of the dollar/euro real exchange rate over the 1985 … the Johansen (1988) and Stock-Watson (1993) procedures. We find that each percentage point in the US-Euro area … estimation methodology, the variables included in the regression, and the sample period. We conjecture that productivity …

Persistent link: https://www.econbiz.de/10012469891

Incentives, Selection and Productivity in Labor Markets : Evidence from Rural Malawi

Guiteras, Raymond P. - 2014

An observed positive relationship between compensation and productivity cannot distinguish between two channels: (1) an incentive effect and (2) worker selection. We use a simplified Becker-DeGroot-Marschak mechanism, which provides random variation in piece rates conditional on revealed...

Persistent link: https://www.econbiz.de/10012458839

Real Business Cycles in Emerging Countries?

García-Cicco, Javier - 2006

We use more than one century of Argentine and Mexican data to estimate the structural parameters of a small-open-economy real-business-cycle model driven by nonstationary productivity shocks. We find that the RBC model does a poor job at explaining business cycles in emerging countries. We then...

Persistent link: https://www.econbiz.de/10012466032

Lessons From the Debt-Deflation Theory of Sudden Stops

Mendoza, Enrique G. - 2006

This paper reports results for a class of dynamic, stochastic general equilibrium models with credit constraints that can account for some of the empirical regularities of the Sudden Stop phenomenon of recent emerging markets crises. In these models, credit constraints set in motion Irving...

Persistent link: https://www.econbiz.de/10012466705

Volatility, employment and the patterns of FDI in emerging markets

Aizenman, Joshua - 2002

The purpose of this paper is to explore the implications of the deepening presence of multinationals in emerging markets on the cost of macroeconomic volatility there. We find that macroeconomic volatility has a potentially large impact on employment and investment decisions of multinationals...

Persistent link: https://www.econbiz.de/10012469306

Alternative Estimates of Productivity Growth in the NICs : A Comment on the Findings of Chang-Tai Hsieh

Young, Alwyn - 1998

Dual estimates of productivity growth by Chang-Tai Hsieh have raised questions about the accuracy of the East Asian national accounts, suggesting that productivity growth in the NICs, particularly Singapore, may have been substantially higher than previously estimated. This paper shows that once...

Persistent link: https://www.econbiz.de/10012472154

Lessons from the East Asian NICs : A Contrarian View

Young, Alwyn - 1993

The unusually rapid and prolonged growth of both output and exports in the Newly Industralizing Countries of East Asia has led many economists to believe that productivity growth in these economies, particularly in their manufacturing sectors, has been extraordinarily high. This view has, in...

Persistent link: https://www.econbiz.de/10012474463

The Impact of Trade Liberalization on Firm Productivity and Innovation

Shu, Pian - 2018

This chapter reviews the empirical economics literature on the impact of trade liberalization on firms' innovation-related outcomes. We define and examine four types of shocks to trade flows: import competition, export opportunities, access to imported intermediates, and foreign input...

Persistent link: https://www.econbiz.de/10012453005

Exporting and Firm Performance : Chinese Exporters and the Asian Financial Crisis

Park, Albert - 2009

We ask how export demand shocks associated with the Asian financial crisis affected Chinese exporters. We construct firm-specific exchange rate shocks based on the pre-crisis destinations of firms' exports. Because the shocks were unanticipated and large, they are a plausible instrument for...

Persistent link: https://www.econbiz.de/10012464017

Quantitative Implication of A Debt-Deflation Theory of Sudden Stops and Asset Prices

Mendoza, Enrique G. - 2004

This paper shows that the quantitative predictions of an equilibrium asset pricing model with financial frictions are consistent with the large consumption and current-account reversals and asset-price collapses observed in the "Sudden Stops" of emerging markets crises. Margin requirements set a...

Persistent link: https://www.econbiz.de/10012467747

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