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International investment positions and exchange rate dynamics

Binder, Michael; Offermanns, Christian J. - 2014

We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...

Persistent link: https://www.econbiz.de/10010414236

Do human rights offenders oppose human rights resolutions in the United Nations?

Dreher, Axel (contributor); Boockmann, Bernhard (contributor) - 2007

We investigate voting behavior on human rights in the United Nations General Assembly (UNGA). Our central question is whether countries with a low human rights record systematically oppose human rights resolutions. An instrumental account of voting would suggest that these countries aim to...

Persistent link: https://www.econbiz.de/10003762834

Greasing the wheels of entrepreneurship? : the impact of regulations and corruption on firm entry

Dreher, Axel (contributor); Gassebner, Martin (contributor) - 2007

The paper investigates whether the impact of regulations on entrepreneurship depends on corruption. We first test whether regulations robustly deter firm entry into the markets. Our results show that some regulations are indeed important determinants of entrepreneurial activity. Specifically,...

Persistent link: https://www.econbiz.de/10003762839

Does high inflation cause central bankers to lose their job? : evidence based on a new data set

Dreher, Axel (contributor); Sturm, Jan-Egbert (contributor); … - 2007

This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

Persistent link: https://www.econbiz.de/10003762844

Development aid and international politics : does membership on the UN Security Council influence World Bank decisions?

Dreher, Axel (contributor); Sturm, Jan-Egbert (contributor); … - 2007

We investigate whether temporary members of the UN Security Council receive favorable treatment from the World Bank … temporary UN Security Council membership and the number of World Bank projects a country receives, even after accounting for … economic and political factors, as well as regional and country effects. The size of World Bank loans, however, is not affected …

Persistent link: https://www.econbiz.de/10003762847

The devil is in the shadow : do institutions affect income and productivity or only official income and official productivity?

Dreher, Axel; Méon, Pierre-Guillaume; Schneider, Friedrich - 2007

This paper assesses the relationship between institutions, output, and productivity, when official output is corrected for the size of the shadow economy. Our results confirm the usual positive impact of institutional quality on official output and total factor productivity, and its negative...

Persistent link: https://www.econbiz.de/10003762854

Does membership in international organizations increase governments' credibility? : testing the effects of delegating powers

Dreher, Axel (contributor); Voigt, Stefan (contributor) - 2008

This paper analyzes whether nation-state governments can increase their credibility by becoming members of international organizations. Credibility is an important asset because it determines the real interest rate and is expected to have an important impact on investment and growth. It is...

Persistent link: https://www.econbiz.de/10003764217

Do IMF and World Bank programs induce government crises? : an empirical analysis

Dreher, Axel (contributor); Gassebner, Martin (contributor) - 2008

We examine whether and under which circumstances World Bank projects and IMF programs affect the likelihood of major … model specification, those of the World Bank are shown to be robust to the choice of control variables and method of …

Persistent link: https://www.econbiz.de/10003764224

Foreign exchange intervention and the political business cycle : a panel data analysis

Dreher, Axel (contributor); Vaubel, Roland (contributor) - 2007

By combining expansionary open market operations with sales of foreign exchange, the central bank can expand the monetary base without depreciating the exchange rate. Thus, if there is a monetary political business cycle, sales of foreign exchange are especially likely before elections. Our...

Persistent link: https://www.econbiz.de/10003459845

Does membership on the UN security council influence IMF conditionality?

Dreher, Axel; Sturm, Jan-Egbert; Vreeland, James Raymond - 2010

We investigate whether elected members of the United Nations Security Council receive favorable treatment from the International Monetary Fund (IMF), analyzing panel data on the level of conditionality attached to (a maximum of) 314 IMF arrangements with 101 countries over the period of 1992 to...

Persistent link: https://www.econbiz.de/10008729030