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Exchange Rate Dynamics and Financial Market Integration
Sutherland, Alan - C.E.P.R. Discussion Papers - 1996
Imperfect capital mobility is modelled in a two-country intertemporal general equilibrium framework by assuming that agents face costs of adjusting asset stocks in foreign asset markets. Goods markets are imperfectly competitive and goods prices are subject to sluggish adjustment. Simulation...
Persistent link: https://www.econbiz.de/10005661798
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What We Cannot Learn from the Irish Experience: A Fundamental Asymmetry of Asymmetric Shocks
Andersson, Fredrik; Forslid, Rikard - C.E.P.R. Discussion Papers - 2000
decrease in wages and moderate out-migration. The effects of shocks in a monetary union are discussed, and it is argued that …
Persistent link: https://www.econbiz.de/10005666595
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Inequality and Unemployment in a Global Economy
Helpman, Elhanan; Itskhoki, Oleg; Redding, Stephen J. - C.E.P.R. Discussion Papers - 2009
. Larger firms pay higher wages and exporters pay higher wages than non-exporters. The opening of trade enhances wage …
Persistent link: https://www.econbiz.de/10005039584
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Trade, Wages, and Collective Bargaining: Evidence from France
Carluccio, Juan; Fougère, Denis; Gautier, Erwan - C.E.P.R. Discussion Papers - 2015
We estimate the impact of international trade on wages using data for French manufacturing firms. We instrument firm … shocks have a positive effect on wages. Exports increase wages for all occupational categories while offshoring has … heterogeneous effects. The impact of trade on wages varies across bargaining regimes. In firms with collective bargaining, the …
Persistent link: https://www.econbiz.de/10011196039
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Firm Dynamics, Job Turnover, and Wage Distributions in an Open Economy
Cosar, Kerem; Guner, Nezih; Tybout, James R - C.E.P.R. Discussion Papers - 2013
This paper explores the combined effects of reductions in trade frictions, tariffs, and firing costs on firm dynamics, job turnover, and wage distributions. It uses establishment-level data from Colombia to estimate an open economy dynamic model that links trade to job flows in a new way. The...
Persistent link: https://www.econbiz.de/10011083293
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Trade Dynamics with Sector-Specific Human Capital
Guren, Adam; Hemous, David; Olsen, Morten - C.E.P.R. Discussion Papers - 2014
operates largely through the entry of new generations. This results in wages being tied to the sector of employment in the …
Persistent link: https://www.econbiz.de/10011083566
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Firm Dynamics and Residual Inequality in Open Economies
Felbermayr, Gabriel; Impullitti, Giammario; Prat, Julien - C.E.P.R. Discussion Papers - 2014
Increasing wage inequality between similar workers plays an important role for overall inequality trends in industrialized societies. To analyze this pattern, we incorporate directed labor market search into a dynamic model of international trade with heterogeneous firms and homogeneous workers....
Persistent link: https://www.econbiz.de/10011083807
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Can Capital Controls Alter the Inflation-Unemployment Trade-off?
Razin, Assaf; Yuen, Chi-Wa - C.E.P.R. Discussion Papers - 1995
transmission of these shocks under different degrees of capital mobility may alter the inflation-unemployment trade-off, i.e. the …/employment variations at the expense of larger variations in inflation rates. When policy-makers put more weight on stable employment rather … than stable inflation, their objectives can thus be attained more easily under capital controls. …
Persistent link: https://www.econbiz.de/10005662259
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Large Capital Inflows, Sectoral Allocation and Economic Performance
Benigno, Gianluca; Converse, Nathan; Fornaro, Luca - C.E.P.R. Discussion Papers - 2015
This paper describes the stylized facts characterizing periods of exceptionally large capital inflows in a sample of 70 middle- and high-income countries over the last 35 years. We identify 155 episodes of large capital inflows and find that these events are typically accompanied by an economic...
Persistent link: https://www.econbiz.de/10011266535
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External Adjustment and the Global Crisis
Lane, Philip R.; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2011
The period preceding the global financial crisis was characterized by a substantial widening of current account imbalances across the world. Since the onset of the crisis, these imbalances have contracted to a significant extent. In this paper, we analyze the ongoing process of external...
Persistent link: https://www.econbiz.de/10009283395