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Chinese monetary policy and the dollar peg

Reade, J. James; Volz, Ulrich - 2010

This paper investigates to what extent Chinese monetary policy is constrained by the dollar peg. To this end, we use a cointegration framework to examine whether Chinese interest rates are driven by the Fed's policy. In a second step, we estimate a monetary model for China, in which we include...

Persistent link: https://www.econbiz.de/10010303913

Estimating the border effect: Some new evidence

Gopinath, Gita; Gourinchas, Pierre-Olivier; Hsieh, Chang-Tai - 2009

To what extent do national borders and national currencies impose costs that segment markets across countries? To answer this question the authors use a dataset with product-level retail prices and wholesale costs for a large grocery chain with stores in the United States and Canada. They...

Persistent link: https://www.econbiz.de/10010280948

Zooming Out: The Trade Effect of the EURO in Historical Perspective

Berger, Helge; Nitsch, Volker - 2005

currencies and adopted a new common currency, the euro. Several recent papers argue that the introduction of the euro has led (by … put the trade effect of the euro in historical perspective. We argue that the creation of the EMU was a continuation (or … integration, the euro?s impact on trade disappears. Moreover, a significant part of the trend in European trade integration is …

Persistent link: https://www.econbiz.de/10010296364

When, how fast and by how much do trade costs change in the euro area?

Weber, Henning; Herwartz, Helmut - 2008

Microfoundations of the euro's effect on euro area trade hinge on the timing, the speed and the size of adjustment in … at the sector level. We find that, due to falling trade costs, trade within the euro area increases between the years … 2000 and 2003 by 10 to 20 percent compared with trade between European countries that are not members of the euro area …

Persistent link: https://www.econbiz.de/10010299149

European Monetary Union at ten: Had the German Maastricht critics been wrong?

Ohr, Renate - 2009

Against the background of the euro-sceptic view many German economists expressed during the 1990ies and the traditional … essentially affected the euro's stability. But it remains to be seen whether, or rather how, the euro within the framework of a …

Persistent link: https://www.econbiz.de/10010266856

Uncertainty shocks in a model of effective demand

Basu, Susanto; Bundick, Brent - 2012

This paper examines the role of uncertainty shocks in a one-sector, representative-agent dynamic stochastic general equilibrium model. When prices are flexible, uncertainty shocks are not capable of producing business cycle comovements among key macro variables. With countercyclical markups...

Persistent link: https://www.econbiz.de/10010343352

State visits and international trade

Nitsch, Volker - 2007

Politicians travel extensively abroad, for various reasons. One purpose of external visits is to improve bilateral economic relations. In this paper, I examine the effect of state visits on international trade. I use a large data set covering the travel activities of the heads of state of...

Persistent link: https://www.econbiz.de/10010299115

What´s the monetary value of distributive justice

Corneo, Giacomo; Fong, Christina M. - 2007

This paper proposes a model that can be implemented to estimate the willingness to pay for distributive justice, defined as distribution according to desert. We derive a formula that allows one to recover the willingness to pay for distributive justice from fiscal data and the estimated...

Persistent link: https://www.econbiz.de/10010299119

Does money still matter for U.S. output?

Berger, Helge; Österholm, Pär - 2008

In this note, we use multivariate models estimated with Bayesian techniques and an out-ofsample approach to investigate whether money growth Granger-causes output growth in the United States. We find surprisingly strong evidence for a money-output link over the 1960-2005 period. However, further...

Persistent link: https://www.econbiz.de/10010299137

Task dependence of U.S. service offshoring patterns

Püschel, Julia - 2012

respective service industry. The results from a zero-inflated Poisson pseudomaximum likelihood estimation indicate that the …

Persistent link: https://www.econbiz.de/10010309794