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Export Restrictions and Price Insulation During Commodity Price Booms
Anderson, Kym; Martin, Will - C.E.P.R. Discussion Papers - 2011
For individual countries, variable trade barriers can be used to reduce the volatility of domestic relative to world … price volatility. This study shows the nature of the resulting collective action problem, with the policy being ineffective … on average in stabilizing domestic prices while increasing the volatility of the income transfers from terms …
Persistent link: https://www.econbiz.de/10009207521
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Emerging Economies, Productivity Growth, and Trade with Resource-Rich Economies by 2030
Anderson, Kym; Strutt, Anna - C.E.P.R. Discussion Papers - 2013
Rapid economic growth in some emerging economies in recent decades has significantly increased their global economic importance. If this rapid growth continues and is strongest in resource-poor Asian economies, the growth in global demand for imports of primary products also will continue, to...
Persistent link: https://www.econbiz.de/10011084563
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Asia’s Growth, the Changing Geography of World Trade, and Food Security: Projections to 2030
Anderson, Kym; Strutt, Anna - C.E.P.R. Discussion Papers - 2012
Rapid trade-led economic growth in emerging Asia has been shifting the global economic and industrial centres of gravity away from the north Atlantic, raising the importance of Asia in world trade but also altering the commodity composition of trade by Asia and other regions. What began with...
Persistent link: https://www.econbiz.de/10011083385
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Institutions, Volatility and Investment
Besley, Timothy J.; Mueller, Hannes Felix - C.E.P.R. Discussion Papers - 2015
Countries with strong executive constraints have lower growth volatility but similar average growth to those with weak … in inflows when strong executive constraints are adopted in terms of the reduction in the volatility in productivity …
Persistent link: https://www.econbiz.de/10011145416
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The Fundamental Surplus in Matching Models
Ljungqvist, Lars; Sargent, Thomas J - C.E.P.R. Discussion Papers - 2015
To generate big responses of unemployment to productivity changes, researchers have reconfigured matching models in various ways: by elevating the utility of leisure, by making wages sticky, by assuming alternating-offer wage bargaining, by introducing costly acquisition of credit, or by...
Persistent link: https://www.econbiz.de/10011201357
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Carry Trades and Global Foreign Exchange Volatility
Menkhoff, Lukas; Sarno, Lucio; Schmeling, Maik; … - C.E.P.R. Discussion Papers - 2011
We investigate the relation between global foreign exchange (FX) volatility risk and the cross-section of excess … FX volatility and thus deliver low returns in times of unexpected high volatility, when low interest rate currencies … provide a hedge by yielding positive returns. Our proxy for global FX volatility risk captures more than 90% of the cross …
Persistent link: https://www.econbiz.de/10008867494
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Leverage as a Predictor for Real Activity and Volatility
Kollmann, Robert; Zeugner, Stefan - C.E.P.R. Discussion Papers - 2011
positively linked to the conditional volatility of future real activity and of equity returns. The joint information in sectoral …
Persistent link: https://www.econbiz.de/10008915810
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Natural resource wealth: the challenge of managing a windfall
van der Ploeg, Frederick; Venables, Anthony J - C.E.P.R. Discussion Papers - 2011
volatility of revenues, have failed to save a sufficiently high proportion of their resource revenues and failed to make high …
Persistent link: https://www.econbiz.de/10009385762
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Financial-Friction Macroeconomics with Highly Leveraged Financial Institutions
Luk, Sheung Kan; Vines, David - C.E.P.R. Discussion Papers - 2011
This paper adds a highly-leveraged financial sector to the Ramsey model of economic growth and shows that this causes the economy to behave in a highly volatile manner: doing this strongly augments the macroeconomic effects of aggregate productivity shocks. Our model is built on the financial...
Persistent link: https://www.econbiz.de/10009322500
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Medium Term Business Cycles in Developing Countries
Comin, Diego; Loayza, Norman; Pasha, Farooq; Servén, Luis - C.E.P.R. Discussion Papers - 2011
Business cycle fluctuations in developed economies (N) tend to have large and persistent effects on developing countries (S). We study the transmission of business cycle fluctuations for developed to developing economies with a two-country asymmetric DSGE model with two features: (i) endogenous...
Persistent link: https://www.econbiz.de/10009322501