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Inequality and the Import Demand Function
Adam, Antonis; Katsimi, Margarita; Moutos, Thomas - CESifo - 2008
In this paper we build a model of trade in vertically differentiated products and find that income inequality can affect the demand for imports even in the presence of homothetic preferences. The empirical importance of changes in inequality on the demand for imports is then assessed by...
Persistent link: https://www.econbiz.de/10005181629
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Infrastructure and Growth: Empirical Evidence
Egert, Balazs; Kozluk, Tomasz; Sutherland, Douglas - CESifo - 2009
Investment in network infrastructure can boost long-term economic growth in OECD countries. Moreover, infrastructure … investment can have a positive effect on growth that goes beyond the effect of the capital stock because of economies of scale … between infrastructure and economic growth. Time-series results reveal a positive impact of infrastructure investment on …
Persistent link: https://www.econbiz.de/10005013038
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The Structural Behavior of China-US Trade Flows
Cheung, Yin-Wong; Chinn, Menzie D.; Qian, Xingwang - CESifo - 2014
value of China’s exports to the US responds negatively to real renminbi (RMB) appreciation, while import responds positively … reduce China’s trade balance. The use of alternative exchange rate measures and data on different trade classifications …
Persistent link: https://www.econbiz.de/10011099761
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Consumption and Keynesian Fiscal Policy
Schclarek, Alfredo - CESifo - 2004
This paper empirically studies the effects of fiscal policy shocks on private consumption. Further, it tries to determine if the level of government bond yield and the unemployment rate affect that relationship. We use yearly data between 1970 and 2000 for thirty-eight countries, of which half...
Persistent link: https://www.econbiz.de/10005181323
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Carbon Content of Electricity Futures in Phase II of the EU ETS
Fell, Harrison; Hintermann, Beat; Vollebergh, Herman R. J. - CESifo - 2013
We estimate the relationship between electricity, fuel and carbon prices in Germany, France, the Netherlands, the Nord Pool market and Spain, using one-year futures for base and peak load prices for the years 2009-2012, corresponding to physical settlement during the second market phase of the...
Persistent link: https://www.econbiz.de/10010877729
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Did US Consumers 'Save for a Rainy Day' Before the Great Recession?
Anundsen, André Kallåk; Nymoen, Ragnar - CESifo - 2015
The ‘saving for a rainy day’ hypothesis implies that households’ saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...
Persistent link: https://www.econbiz.de/10011278934
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The Sustainability of Fiscal Policy in Italy: A Long-Term Perspective
Bartoletto, Silvana; Chiarini, Bruno; Marzano, Elisabetta - CESifo - 2012
debt and its ratio to GDP. Second, exploiting unit root analysis and cointegration, we test for the sustainability of …
Persistent link: https://www.econbiz.de/10010548150
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Do Better Capitalized Banks Lend Less? Long-Run Panel Evidence from Germany
Buch, Claudia M.; Prieto, Esteban - CESifo - 2012
between the capitalization of the banking sector and bank loans using panel cointegration models. We study the evolution of …
Persistent link: https://www.econbiz.de/10010552440
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On the Linkages between Stock Prices and Exchange Rates: Evidence from the Banking Crisis of 2007-2010
Caporale, Guglielmo Maria; Hunter, John; Ali, Faek Menla - CESifo - 2013
This study examines the nature of the linkages between stock market prices and exchange rates in six advanced economies, namely the US, the UK, Canada, Japan, the euro area, and Switzerland, using data on the banking crisis between 2007 and 2010. Bivariate GARCH-BEKK models are estimated...
Persistent link: https://www.econbiz.de/10010636593
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Testing for Common Cyclical Features in Var Models with Cointegration
Hecq, Alain; Palm, Franz; Urbain, Jean-Pierre - CESifo - 2001
We consider VAR models for variables exhibiting cointegration and common cyclical features. While the presence of … cointegration reduces the rank of the long-run multiplier matrix, other types of common features lead to rank reduction of the short …
Persistent link: https://www.econbiz.de/10005765794