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Skill-specific rather then General Education : A Reason for US-Europe Growth Differences?

Krueger, Dirk - 2003

In this paper, we develop a model of technology adoption and economic growth in which households optimally obtain … between their growth rates will increase with the growth rate of available technology. By characterizing the optimal Ramsey … available technology. Our theory suggests that European education policies that favored specialized, vocational education might …

Persistent link: https://www.econbiz.de/10012469295

A Contagious Malady? Open Economy Dimensions of Secular Stagnation

Eggertsson, Gauti B. - 2016

examine the effect of capital flows on the transmission of stagnation. In a world with a low natural rate of interest, greater …

Persistent link: https://www.econbiz.de/10012456376

Currency Unions and Trade : A Post-EMU Mea Culpa

Glick, Reuven - 2015

In our European Economic Review (2002) paper, we used pre-1998 data on countries participating in and leaving currency unions to estimate the effect of currency unions on trade using (then-) conventional gravity models. In this paper, we use a variety of empirical gravity models to estimate the...

Persistent link: https://www.econbiz.de/10012457134

Assessing the Effects of the MFA/ATC from US and World Trade Data after Its Removal

Yao, Daqing - 2015

In this paper we assess the effects of the MFA/ATC using both world trade and US data after its removal. Previous …

Persistent link: https://www.econbiz.de/10012457368

Get Rid of Unanimity : The Superiority of Majority Rule with Veto Power

Bouton, Laurent - 2014

A group of agents wants to reform the status quo if and only if this is Pareto improving. Agents have private information and may have common or private objectives, which creates a tension between information aggregation and minority protection. We analyze a simple voting system - majority rule...

Persistent link: https://www.econbiz.de/10012458249

The Euro and The Geography of International Debt Flows

Hale, Galina - 2014

Greater financial integration between core and peripheral EMU members not only had an effect on both sets of countries but also spilled over beyond the euro area. Lower interest rates allowed peripheral countries to run bigger deficits, which inflated their economies by allowing credit booms....

Persistent link: https://www.econbiz.de/10012458631

The European Crisis in the Context of the History of Previous Financial Crises

Bordo, Michael D. - 2013

There are some striking similarities between the pre 1914 gold standard and EMU today. Both arrangements are based on fixed exchange rates, monetary and fiscal orthodoxy. Each regime gave easy access by financially underdeveloped peripheral countries to capital from the core countries. But the...

Persistent link: https://www.econbiz.de/10012459549

Carbon Motivated Regional Trade Arrangements : Analytics and Simulations

Dong, Yan - 2009

This paper presents both analytics and numerical simulation results relevant to proposals for carbon motivated regional trade agreements summarized in Dong & Whalley(2008). Unlike traditional regional trade agreements, by lowing tariffs on participant's low carbon emission goods and setting...

Persistent link: https://www.econbiz.de/10012463767

A Long Term Perspective on the Euro

Bordo, Michael D. - 2008

This study grounds the establishment of EMU and the euro in the context of the history of international monetary cooperation and of monetary unions, above all in the U.S., Germany and Italy. The purpose of national monetary unions was to reduce transactions costs of multiple currencies and...

Persistent link: https://www.econbiz.de/10012464832

Risk, Government and Globalization : International Survey Evidence

Mayda, Anna Maria - 2007

This paper uses international survey data to document two stylized facts. First, risk aversion is associated with anti-trade attitudes. Second, this effect is smaller in countries with greater levels of government expenditure. The paper thus provides evidence for the microeconomic underpinnings...

Persistent link: https://www.econbiz.de/10012465617