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Does a change of government influence compliance with international agreements? : empirical evidence for the NATO two percent target

Blum, Johannes; Potrafke, Niklas - 2019

We examine whether changes of government influence compliance with international agreements. We investigate compliance with the NATO two percent target to which all NATO countries committed themselves during the NATO summit in Wales in 2014. The dataset includes the military expenditure by NATO...

Persistent link: https://www.econbiz.de/10011966866

Domestic and global output gaps as inflation drivers : what does the Phillips curve tell?

Jašová, Martina; Moessner, Richhild; Takáts, Előd - 2018

We study how domestic and global output gaps affect CPI inflation. We use a New-Keynesian Phillips curve framework which controls for nonlinear exchange rate movements for a panel of 26 advanced and 22 emerging economies covering the 1994Q1-2017Q4 period. We find broadly that both global and...

Persistent link: https://www.econbiz.de/10011929651

The globalisation of inflation : the growing importance of global value chains

Auer, Raphael A.; Borio, Claudio E. V.; Filardo, Andrew J. - 2017 - This version: 06.01.2017

Greater international economic interconnectedness over recent decades has been changing inflation dynamics. This paper presents evidence that the expansion of global value chains (GVCs), ie cross-border trade in intermediate goods and services, is an important channel through which global...

Persistent link: https://www.econbiz.de/10011619539

Military spending and innovation : learning from 19th century world fair exhibition data

Danzer, Alexander M.; Danzer, Natalia; Feuerbaum, Carsten - 2023

We provide quantitative evidence on the relationship between military spending and innovation in the 19th century. Combining innovation data from world fairs and historical military data across Europe, we show that national military spending is associated with national innovation towards war...

Persistent link: https://www.econbiz.de/10014249922

Exchange rate elasticities of international tourism and the role of dominant currency pricing

Ding, Ding; Timmer, Yannick - 2022

We estimate exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange … rate, the exchange rate between the tourism origin country vis-à-vis the U.S. dollar is an important driver of tourism … flows, indicating a strong role of U.S. dollar pricing. The U.S. dollar exchange rate is more important for tourism …

Persistent link: https://www.econbiz.de/10013201620

A beam of light : media, tourism & economic development

Nocito, Samuel; Sartarelli, Marcello; Sobbrio, Francesco - 2021

Tourism accounts for around one tenth of global GDP. We analyze the impact of entertainment media in drawing tourists … to filming locations (media multiplier ) and, in turn, the effect of tourism on local economic development (tourism … factor of 2.5. Furthermore, we provide evidence of positive spillovers in nearby municipalities. To estimate the tourism …

Persistent link: https://www.econbiz.de/10012510008

Lord, how I want to be in that number! : on the blessing of UNESCO world heritage listing

Bertacchini, Enrico; Revelli, Federico; Zotti, Roberto - 2023

This paper studies the impact of UNESCO World Heritage List (WHL) inscription on income and property values in the Italian municipalities that had their sites inscribed during the past two decades. To address the selection bias and identify the causal impact of inscription, we focus on sites...

Persistent link: https://www.econbiz.de/10013555722

Financial integration and European tourism stocks

Caporale, Guglielmo Maria; Yfanti, Stavroula; … - 2023

This study examines the macro drivers of the time-varying (dynamic) connectedness between eleven European tourism … estate activity. Further, economic and political uncertainty is found to intensify the macro effects on tourism correlations … crash, also magnify the impact of macro drivers on the evolution of co-movement and integration in the tourism sector. …

Persistent link: https://www.econbiz.de/10013540847