Narrow search
Showing 1 - 10 of 88
Cover Image
Monetary Policy Shocks and Portfolio Choice
Fratzscher, Marcel; Saborowski, Christian; Straub, Roland - C.E.P.R. Discussion Papers - 2010
The paper shows that monetary policy shocks exert a substantial effect on the size and composition of capital flows and the trade balance for the United States, with a 100 basis point easing raising net capital inflows and lowering the trade balance by 1% of GDP, and explaining about 20-25% of...
Persistent link: https://www.econbiz.de/10008692318
Cover Image
Productivity, Wages and Prices Inside and Outside of Manufacturing in the US, Japan and Europe
Gordon, Robert J - C.E.P.R. Discussion Papers - 1986
. Results are presented for the United States, Japan, and an aggregate called "Europe" consisting of eleven European economies … indices for Japan and Europe. If anything, real wages in Europe and Japan were too flexible rather than too rigid, in the … sense that much of the increase in wage gap indices in Europe during 1968-70 and in Japan in 1973-74 can be interpreted as …
Persistent link: https://www.econbiz.de/10005789135
Cover Image
Trade in the Triad: How Easy is the Access to Large Markets?
Fontagne, Lionel; Mayer, Thierry; Zignago, Soledad - C.E.P.R. Discussion Papers - 2004
called the Triad: The United States, the EU and Japan. We focus on measuring possible asymmetries in market access between …
Persistent link: https://www.econbiz.de/10005504710
Cover Image
The Euro and International Capital Markets
Detken, Carsten; Hartmann, Philipp - C.E.P.R. Discussion Papers - 2000
This paper provides a broad empirical examination of the major currencies' roles in international capital markets, with a special emphasis on the first year of the Euro. A contribution is made as to how to measure these roles, both for international financing as well as for international...
Persistent link: https://www.econbiz.de/10005123910
Cover Image
On the connection between intra-temporal and intertemporal trade
Ju, Jiandong; Shi, Kang; Wei, Shang-Jin - C.E.P.R. Discussion Papers - 2012
Sticky (or slow-adjusting) current accounts are observed for many countries. This paper explores the role of domestic factor market flexibility in understanding the phenomenon. To do so, we consider multiple tradable sectors with different factor intensities and allow substitution between...
Persistent link: https://www.econbiz.de/10011083600
Cover Image
Long-Term Capital Movements
Lane, Philip R.; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2001
International financial integration allows countries to become net creditors or net debtors with respect to the rest of the world. In this Paper, we show that a small set of fundamentals shifts in relative output levels, the stock of public debt and demographic factors can do much to explain the...
Persistent link: https://www.econbiz.de/10005792250
Cover Image
External Wealth, the Trade Balance and the Real Exchange Rate
Lane, Philip R.; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2002
We examine the link between the net foreign asset position, the trade balance and the real exchange rate. In particular, we decompose the impact of a country’s net foreign asset position (‘external wealth’) on its long-run real exchange rate into two mechanisms: the relation between...
Persistent link: https://www.econbiz.de/10005124328
Cover Image
Business Cycles in a Small Open Economy
Correia, Isabel; Neves, Joao C; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 1994
This paper discusses a dynamic model that is consistent with the main empirical regularities of economic fluctuations in open economies. While other models in this class have relied on non-separable preferences or finite horizons to generate a realistic consumption volatility, we show that there...
Persistent link: https://www.econbiz.de/10005124343
Cover Image
Trade Costs, Trade Balances and Current Accounts: An Application of Gravity to Multilateral Trade
Fazio, Giorgio; MacDonald, Ronald; Melitz, Jacques - C.E.P.R. Discussion Papers - 2005
In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with...
Persistent link: https://www.econbiz.de/10005497776
Cover Image
Intertemporal Prices and the US Trade Balance in Durable Goods
Burda, Michael C; Gerlach, Stefan - C.E.P.R. Discussion Papers - 1990
This paper shows that virtually all of the rapid worsening of the US trade deficit since 1982 can be attributed to the balance on durable goods. Moreover, this deterioration has been concentrated in capital goods rather than consumer durables intertemporal prices play a key role in the...
Persistent link: https://www.econbiz.de/10005656219