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Global Monetary Policy Under a Dollar Standard
Devereux, Michael B; Shi, Kang; Xu, Juanyi - C.E.P.R. Discussion Papers - 2004
For the past four or five decades, the international monetary system has operated on a ’dollar standard’. Popular discussion suggests that this gives the US an advantage in the use of monetary policy. This Paper analyses the determination of monetary policy in a world with a dollar standard,...
Persistent link: https://www.econbiz.de/10005123745
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China’s Dominance Hypothesis and the Emergence of a Tri-polar Global Currency System
Fratzscher, Marcel; Mehl, Arnaud - C.E.P.R. Discussion Papers - 2011
This paper assesses whether the international monetary system is already tri-polar and centred around the US dollar, the euro and the Chinese renminbi (RMB). It focuses on what we call China’s" dominance hypothesis", i.e. whether the renminbi is already the dominant currency in Asia, exerting...
Persistent link: https://www.econbiz.de/10009371469
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Factors and Effects of Trade Reorientation in Hungary
Halpern, László - C.E.P.R. Discussion Papers - 1993
The collapse of the CMEA completed the Hungarian trade reorientation during the second half of the 1980s. Panel model estimations of trade reorientation reveal that cost efficiency, export subsidy and foreign demand played important and varying roles between 1981 and 1990. During the last two...
Persistent link: https://www.econbiz.de/10005666895
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Investment and capital structure of partially private regulated firms
Cambini, Carlo; Spiegel, Yossi - C.E.P.R. Discussion Papers - 2011
We develop a model that examines the capital structure and investment decisions of regulated firms in a setting that …
Persistent link: https://www.econbiz.de/10009209829
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A Gains from Trade Perspective on Macroeconomic Fluctuations
Beaudry, Paul; Portier, Franck - C.E.P.R. Discussion Papers - 2011
Business cycles reflect changes over time in the amount of trade between individuals. In this paper we show that incorporating explicitly intra-temporal gains from trade between individuals into a macroeconomic model can provide new insight into the potential mechanisms driving economic...
Persistent link: https://www.econbiz.de/10009221567
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Spain's International Position, 1850-1913
Prados de la Escosura, Leandro - C.E.P.R. Discussion Papers - 2009
us to reject this view. In fact, a net capital inflow made possible to meet the demand for investment boosting economic …
Persistent link: https://www.econbiz.de/10008458296
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Investment Prices and Exchange Rates: Some Basic Facts
Burstein, Ariel Tomas; Neves, Joao C; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 2004
This Paper documents four basic facts about investment goods and investment prices. First, investment has a very …, and transportation) are much less important for investment than for consumption. Third, the import content of investment …
Persistent link: https://www.econbiz.de/10005662174
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Labour Mobility and German Integration: Some Vignettes
Burda, Michael C; Wyplosz, Charles - C.E.P.R. Discussion Papers - 1991
Several alterantive scenarios for the economic integration of East and West Germany are analysed. They all share an amphasis of the rile of migration and labor mobility in this process. The effects of congestion costs, rigid wages, human capital and heterogeneity of migrants, and endogenous...
Persistent link: https://www.econbiz.de/10005662319
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Investment and Usage of New Technologies: Evidence from a Shared ATM Network
Degryse, Hans; Ferrari, Stijn; Verboven, Frank - C.E.P.R. Discussion Papers - 2007
When new technologies become available, it is not only essential that firms have the correct investment incentives, but … often also that consumers make the proper usage decisions. This paper studies investment and usage in a shared ATM network …. Because all banks coordinate their ATM investment decisions, there is no strategic but only a pure cost-saving incentive to …
Persistent link: https://www.econbiz.de/10005662325
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New Issues in Corporate Finance
Mayer, Colin - C.E.P.R. Discussion Papers - 1987
the provision of long-term finance. This approach suggests that the separation between the analysis of investment and that …
Persistent link: https://www.econbiz.de/10005666432