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Heterogeneous economic integration agreement effects

Baier, Scott L.; Bergstrand, Jeffrey H.; Clance, Matthew W. - 2015

Gravity equations have been used for more than 50 years to estimate ex post the partial effects of trade costs on international trade flows, and the well-known - and traditionally presumed exogenous - "trade-cost elasticity" plays a central role in computing general equilibrium trade-flow and...

Persistent link: https://www.econbiz.de/10011309578

Putting Canada in the penalty box : trade and welfare effects of eliminating NAFTA

Baier, Scott L.; Bergstrand, Jeffrey H.; Bruno, John P. - 2019

Three years ago, very few economists would have imagined that one of the newest and fastest growing research areas in international trade is the use of quantitative trade models to estimate the economic welfare losses from dissolutions of major countries' economic integration agreements (EIAs)....

Persistent link: https://www.econbiz.de/10012026353

European Central Bank

Drometer, Marcus; Siemsen, Thomas; Watzka, Sebastian - 2013

We derive four sets of counterfactual national interest rate paths for the 17 Euro Area countries for the time period 1999 to 2012. They approximate desirable national interest rates countries would have liked to implement if they could still conduct independent monetary policy. We find that...

Persistent link: https://www.econbiz.de/10009724004

Smells like fiscal policy? : assessing the potential effectiveness of the ECB's OMT program

Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - 2014

an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting … sovereign bond purchases on secondary markets, a stable relationship between bank lending rates and government bond rates is of … this relationship by focusing on the reaction of bank lending rates to movements in government bond rates over the period …

Persistent link: https://www.econbiz.de/10010246072

Smells like fiscal policy? : assessing the potential effectiveness of the ECB's OMT program ; conference paper

Hristov, Nikolay; Hülsewig, Oliver; Siemsen, Thomas; … - 2014

safeguarding an appropriate monetary policy transmission. Since the program aims at manipulating bank lending rates by conducting … sovereign bond purchases on secondary markets, a stable relationship between bank lending rates and government bond rates is of … this relationship by focusing on the reaction of bank lending rates to movements in government bond rates over the period …

Persistent link: https://www.econbiz.de/10010480578