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Limits of Monetary Policy Autonomy by East Asian Debtor Central Banks
Löffler, Axel; Schnabl, Gunther; Schobert, Franziska - CESifo - 2012
Due to buoyant capital inflows East Asian central banks with exchange rate targets accumulate foreign reserves and thereby increase surplus liquidity. East Asian central banks with more flexible exchange rate regimes also face surplus liquidity that mainly emanates from past accumulation of...
Persistent link: https://www.econbiz.de/10009649702
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Exchange Rate Volatility and Growth in Emerging Europe and East Asia
Schnabl, Gunther - CESifo - 2007
The paper investigates the impact of exchange rate volatility on growth in Emerging Europe and East Asia. Exchange stability has been argued to affect growth negatively as it deprives countries from the ability to react in a flexible way to asymmetric real shocks and may enhance the probability...
Persistent link: https://www.econbiz.de/10005766163
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The Evolution of the East Asian Currency Baskets – Still Undisclosed and Changing
Schnabl, Gunther - CESifo - 2006
Both before and after the Asian crisis, the dollar has been the dominant anchor and reserve currency in East Asia. Due to underdeveloped capital markets and the limited international role of their domestic currencies, the East Asian countries (except Japan) are likely to continue to stabilize...
Persistent link: https://www.econbiz.de/10005416447
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Productivity as if Space Mattered: An Application to Factor Markets Across China
Cheng, Wenya; Morrow, John; Tacharoen, Kitjawat - CESifo - 2013
results quantify the role of regional factor markets in firm productivity and location. Considering modern China as a large …
Persistent link: https://www.econbiz.de/10010877649
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Productivity Response to a Contract Change
Jayaraman, Rajshri; Ray, Debraj; Véricourt, Francis de - CESifo - 2014
This paper studies the productivity impact of a contract change for tea pluckers in an Indian plantation. The contract …
Persistent link: https://www.econbiz.de/10010877659
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The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered
Bordo, Michael D.; Choudhri, Ehsan U.; Fazio, Giorgio; … - CESifo - 2014
Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …
Persistent link: https://www.econbiz.de/10010877817
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Firm Performance and Trade with Low-Income Countries: Evidence from China
Schmerer, Hans-Jörg; Wang, Luhang - CESifo - 2014
evidence for sequential sorting into different export-modes according to firm productivity: i) only the most productive firms …
Persistent link: https://www.econbiz.de/10010888447
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Employment Protection and the Market for Innovations
Bastgen, Andreas; Holzner, Christian - CESifo - 2015
in order to restore their productivity. To do so we develop an equilibrium matching model with an imperfect labor and … estimated negative impact of wrongful dismissal laws in the US on productivity and the positive effect on the number of …
Persistent link: https://www.econbiz.de/10011210787
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Temporary Employment, Job Flows and Productivity: A Tale of two Reforms
Cappellari, Lorenzo; Dell'Aringa, Carlo; Leonardi, Marco - CESifo - 2011
productivity-enhancing effect. The reform of fixed-term contracts instead did not produce the intended results: it induced a … substitution of temporary employees in favour of permanent ones and reduced capital intensity, generating productivity losses. We …
Persistent link: https://www.econbiz.de/10009221556
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Does China Still Have a Labor Cost Advantage?
Ceglowski, Janet; Golub, Stephen - CESifo - 2011
In recent years wages in China have been rising and the yuan has appreciated, potentially eroding China’s cost advantage in manufactures. This paper explores the evolution of China’s relative unit labor costs in manufacturing over 1998-2009. Between 1998 and 2003 China’s unit labor costs...
Persistent link: https://www.econbiz.de/10009323303