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I analyze output growth, volatility, and skewness as the joint outcomes of financial openness. Using an industry panel of 53 countries over 45 years, I find that financial openness increases simultaneously mean growth and the negative skewness of the growth process. The increase in output...
Persistent link: https://www.econbiz.de/10009276057
countries financial development fosters aggregate growth mainly by lowering the cost of capital, while in advanced economies by …
Persistent link: https://www.econbiz.de/10005530674
What determines a country's ability to compete in international markets? What fosters the global competitiveness of its … domestic firms' competitiveness in local and global markets? We address these questions by calibrating and simulating a …, we are able to construct an index of 'revealed competitiveness', which would drive the relative performance of countries …
Persistent link: https://www.econbiz.de/10005344953
database of comparable productivity indicators built by members of the Competitiveness Research Network (CompNet) using a newly … paper provides information on the distribution of firms across several dimensions related to competitiveness, e … paper documents the development of the new research infrastructure, describes the database, and shows some preliminary …
Persistent link: https://www.econbiz.de/10010753750
and Monetary Union (EMU) and the role of persistent losses in competitiveness. This paper starts by investigating some of … the competitiveness factors which contributed to external imbalances in euro area countries. The evidence suggests … significant heterogeneity across countries in both price/cost and non-price competitiveness in the euro area and that there is no …
Persistent link: https://www.econbiz.de/10010693503
theoretical foundations. In particular, the paper discusses the use and development of trade weights based on trade in … constructing the real effective exchange rate indices. In addition, it presents evidence on exchange rate and competitiveness … area competitiveness. Overall, euro area competitiveness has improved slightly since the introduction of the single …
Persistent link: https://www.econbiz.de/10010693521
This paper examines the role of government wages in ensuring macroeconomic stability and competitiveness in the euro … wage growth and competitiveness losses. These findings underpin the need for prudent public wage policies supported by … competitiveness in Economic and Monetary Union. JEL Classification: E22, E50 …
Persistent link: https://www.econbiz.de/10008542880
prevalent when financial vulnerabilities, excess demand and competitiveness loss remain relatively contained in the boom. In the …
Persistent link: https://www.econbiz.de/10005530783
competitiveness. We preliminarily use constant market share analysis and gravity estimations to show that the majority of the decline … U.S. market share is not a sufficient statistic for competitiveness. We then derive a computable measure of country …-sector specific real marginal costs (i.e. competitiveness) which, insofar it is inferred from actual trade ows, is referred to as …
Persistent link: https://www.econbiz.de/10010686772
While there are many methods to measure the competitiveness of an economy, most of these concepts ignore the fact that … competitiveness can change because of market processes like wage negotiation but also because of political decision … competitive position. Disentangling market-induced and politics-induced changes in competitiveness is not easy, but strongly …
Persistent link: https://www.econbiz.de/10010686806