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In this paper, we find that expected (news) and unexpected (contemporaneous) components of productivity changes have … factor productivity (TFP) into news and contemporaneous productivity changes. The US real exchange rate appreciates following … international transmission of productivity shocks and the modeling of exchange rate volatility. …
Persistent link: https://www.econbiz.de/10008739773
This paper examines the role for tax policies in productivity-shock driven economies with \catching …
Persistent link: https://www.econbiz.de/10011091031
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countries. We show analytically that fluctuations in measured productivity in our model are not linked across countries through …
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Key macroeconomic variables such as GDP and investment typically display a V-shaped pattern during major emerging market crises. A notable exception to that pattern is intermediated credit, which follows an L-shaped trajectory instead: it declines at first in lockstep with economic activity, but...
Persistent link: https://www.econbiz.de/10005346059
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In discussions of the likely implications for Europe of EMU, the United States is often cited as an example of a monetary union, while the United States' central bank, the Federal Reserve System, is cited as a model for how a central bank would function in a monetary union. While the costs and...
Persistent link: https://www.econbiz.de/10005346137
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