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State-owned enterprises, shirking and trade liberalization

Madanmohan, Ghosh; Whalley, John - 2000

imports can also occur. These models when calibrated to 1995 data for Vietnam also suggest quantitatively much larger impacts …

Persistent link: https://www.econbiz.de/10009781577

Analyzing structural reforms using a behavioral macroeconomic model

De Grauwe, Paul; Ji, Yuemei - 2017

We use a behavioral macroeconomic model to analyze how structural reforms affect the economy in the short and in the … second one raises potential output in the economy. We find that structural reforms that increase the flexibility of wages and … rigid economy. Finally, we analyze how structural reforms change the tradeoffs between output and inflation variability. Our …

Persistent link: https://www.econbiz.de/10011663556

The deepening China Brazil economic relationship

Whalley, John; Medianu, Dana - 2010

We document key features of the deepening economic relationship between Brazil and China. This is evident from sharply increased bilateral trade and foreign direct investment flows and also from enhanced cohesion of negotiating positions in international fora. Data presented show bilateral trade...

Persistent link: https://www.econbiz.de/10008806619

Substitutability and protectionism : Latin America's trade policy and imports from China and India

Facchini, Giovanni; Olarreaga, Marcelo; Silva, Peri; … - 2007

Persistent link: https://www.econbiz.de/10003496675

Pitfalls in the use of ad valorem equivalent representations of the trade impacts of domestic policies

Whalley, John (contributor) - 2005

Numerical simulation exercises to analyze the impacts of potential changes in non-tariff policies commonly use ad valorem equivalent tariff treatment even though estimated impacts using explicit model representation and ad valorem equivalent treatments will differ. The difficulty for modellers...

Persistent link: https://www.econbiz.de/10003109945

Animal spirits and the international transmission of business cycles : presented at CESifo Area Conference on Macro, Money & International Finance, February 2016

De Grauwe, Paul; Ji, Yuemei - 2016

replicated in standard open economy macroeconomic models without assuming that the exogenous shocks hitting these countries are …

Persistent link: https://www.econbiz.de/10011444133

Fighting inflation more effectively without transferring central banks' profits to banks

De Grauwe, Paul; Ji, Yuemei - 2023

The major central banks now operate in a regime of abundance of bank reserves. As a result, they can only raise the money market rate by increasing the rate of remuneration of bank reserves. This, in turn, leads to large transfers of the central banks' profits (and more) to commercial banks that...

Persistent link: https://www.econbiz.de/10014422581

Monetary policy and radical uncertainty

De Grauwe, Paul; Ji, Yuemei - 2024

In a world of radical uncertainty the frequency distributions of economic variables deviate from the normal distribution and typically exhibit fat tails. We show that this feature is obtained in simple models where agents have cognitive limitations and fail to understand the underlying model....

Persistent link: https://www.econbiz.de/10014517948

Animal spirits and monetary policy

De Grauwe, Paul (contributor) - 2008

We develop a behavioral macroeconomic model in which agents use simple but biased rules to forecast future output and inflation. This model generates endogenous waves of optimism and pessimism ("Animal Spiritsʺ) that are generated by the correlation of biased beliefs. We contrast the dynamics...

Persistent link: https://www.econbiz.de/10003763301

Monetary policy in EMU when the transmission is asymmetric and uncertain

De Grauwe, Paul; Sénégas, Marc-Alexandre - 2003

In this paper we address the issue of how transmission uncertainty could affect the choice between a federal monetary policy based on national data and one on aggregated data.We find that the uncertainty about the transmission process increases the need to take into account information about...

Persistent link: https://www.econbiz.de/10011506467