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The Dollar in an Era of International Retrenchment

Chahrour, Ryan; Valchev, Rosen - National Bureau of Economic Research - 2023

Recent trends suggest the world economy may be tending towards an equilibrium with two distinct trading blocs, each … internally integrated, but with significant isolation between the blocs. This paper uses a quantitative theory to explore how far … this bifurcation would need to go to pose a threat to the special role of the dollar in international exchange. The theory …

Persistent link: https://www.econbiz.de/10014322792

Internationalization and the evolution of corporate valuation

Levine, Ross - 2005

"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...

Persistent link: https://www.econbiz.de/10010522397

The US, Economic News, and the Global Financial Cycle

Boehm, Christoph E.; Kroner, T. Niklas - National Bureau of Economic Research - 2023

We provide evidence for a causal link between the US economy and the global financial cycle. Using intraday data, we show that US macroeconomic news releases have large and significant effects on global risky asset prices. Stock price indexes of 27 countries, the VIX, and commodity prices all...

Persistent link: https://www.econbiz.de/10014247914

The Global Dollar Cycle

Obstfeld, Maurice; Zhou, Haonan - National Bureau of Economic Research - 2023

cyclical pattern. Over that cycle, world asset prices, leverage, and capital flows move in concert with global growth …

Persistent link: https://www.econbiz.de/10014247924

How Far Goods Travel : Global Transport and Supply Chains from 1965-2020

Ganapati, Sharat; Wong, Woan Foong - National Bureau of Economic Research - 2023

. Participation of emerging economies in world trade and longer-distance trade between countries contribute to this usage increase …

Persistent link: https://www.econbiz.de/10014250184

Global Supply Chain Pressures, International Trade, and Inflation

Di Giovanni, Julian; Kalemli-Ozcan, Sebnem; Silva, Álvaro - National Bureau of Economic Research - 2022

We study the impact of the Covid-19 pandemic on Euro Area inflation and how it compares to the experiences of other countries, such as the United States, over the two-year period 2020-21. Our model-based calibration exercises deliver four key results: 1) Compositional effects - the switch from...

Persistent link: https://www.econbiz.de/10013334457

Unstable Prosperity : How Globalization Made the World Economy More Volatile

Mendoza, Enrique G.; Quadrini, Vincenzo - National Bureau of Economic Research - 2023

The sharp, secular decline in the world real interest rate of the past thirty years suggests that the surge in global … made the world economy more vulnerable to financial crises. These findings are the quantitative predictions of a two …

Persistent link: https://www.econbiz.de/10013537726

The Aggregate Effects of Global and Local Supply Chain Disruptions : 2020–2022

Alessandria, George A.; Khan, Shafaat Yar; … - National Bureau of Economic Research - 2023

We study the aggregate effects of supply-chain disruptions in the post-pandemic period in a heterogeneous-firm, general equilibrium model with input-output linkages and a rich set of supply chain frictions: uncertain shipping delays, fixed order costs, and storage costs. Firms optimally hold...

Persistent link: https://www.econbiz.de/10013537743

China in Tax Havens

Clayton, Christopher; Coppola, Antonio; Santos, Amanda dos - National Bureau of Economic Research - 2023

We document the rise of China in offshore capital markets. Chinese firms use global tax havens to access foreign capital both in equity and bond markets. In the last twenty years, China's presence went from raising a negligible amount of capital in these markets to accounting for more than half...

Persistent link: https://www.econbiz.de/10013537759

International Capital Flow Pressures and Global Factors

Goldberg, Linda S.; Krogstrup, Signe - National Bureau of Economic Research - 2023

The risk sensitivity of international capital flow pressures is explored using a new Exchange Market Pressure index that combines pressures observed in exchange rate adjustments with model-based estimates of incipient pressures that are masked by foreign exchange interventions and policy rate...

Persistent link: https://www.econbiz.de/10013537779