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Müller-Plantenberg, Nikolas - CESifo - 2003

During the past three decades, Japan’s current account experienced five large swings. The yen appreciated considerably in periods when the current account boomed, and it depreciated whenever Japan’s external performance weakened. However, there has always been a certain lag in the adjustment...

Persistent link: https://www.econbiz.de/10005766057

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 fell, but since 2003 they have increased both absolutely and relative to US …

Persistent link: https://www.econbiz.de/10009323303

Modeling Two Macro Policy Instruments - Interest Rates and Aggregate Capital Requirements

Gersbach, Hans; Hahn, Volker - CESifo - 2011

We present a simple neoclassical model to explore how an aggregate bank-capital requirement can be used as a macroeconomic policy tool and how this additional tool interacts with monetary policy. Aggregate bank-capital requirements should be adjusted when the economy is hit by cost-push shocks...

Persistent link: https://www.econbiz.de/10009320780

Basel Accord and Financial Intermediation: The Impact of Policy

Berka, Martin; Zimmermann, Christian - CESifo - 2012

This paper studies loan activity in a context where banks must follow Basel Accord-type rules and acquire financing from households. Loan activity typically decreases when entrepreneurs’ investment returns decline, and we study which type of policy could revigorate an economy in a trough. We...

Persistent link: https://www.econbiz.de/10009645629

No Need to Run Millions of Regressions

Sturm, Jan-Egbert - CESifo - 2000

We argue that in modelling cross-country growth models one should first identify so-called outlying observations. For the data set of Sala-i-Martin, we use the least median of squares (LMS) estimator to identify outliers. As LMS is not suited for inference, we then use reweighted least squares...

Persistent link: https://www.econbiz.de/10005094199

Economic, Demographic and Political Determinants of Pollution Reassessed: A Sensitivity Analysis

Gassebner, Martin; Lamla, Michael; Sturm, Jan-Egbert - CESifo - 2006

Recent literature proposes many variables as significant determinants of pollution. This paper gives an overview of this literature and asks which of these factors have an empirically robust impact on water and air pollution, i.e. do not depend upon the conditioning information set. For this, we...

Persistent link: https://www.econbiz.de/10005406345

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

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

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

Firm Performance and Trade with Low-Income Countries: Evidence from China

Schmerer, Hans-Jörg; Wang, Luhang - CESifo - 2014

analysis reveals a rising low-income country trade share around and after China’s accession to the World Trade Organization … 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