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Is openness inflationary? Imperfect competition and monetary market power
Evans, Richard W. - Federal Reserve Bank of Dallas - 2007
Much empirical work has documented a negative correlation between different measures of globalization or openness and …
Persistent link: https://www.econbiz.de/10005367952
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Globalization and monetary policy: an introduction
Martinez-Garcia, Enrique - Federal Reserve Bank of Dallas - 2008
Greater openness has become an almost universal feature of modern, developed economies. This paper develops a workhorse international model, and explores the role of standard monetary policy rules applied to an open economy. For this purpose, I build a two-country DSGE model with monopolistic...
Persistent link: https://www.econbiz.de/10005367953
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Some preliminary evidence on the globalization-inflation nexus
Guilloux, Sophie; Kharroubi, Enisse - Federal Reserve Bank of Dallas - 2008
The aim of this paper is to evaluate the impact of globalization, if any, on inflation and the inflation process. We … concluded that globalization has had no significant impact, this paper highlights that trying to capture globalization effects … trade volume statistics to properly describe the impact of globalization. This leads us to adopt a more systematic approach …
Persistent link: https://www.econbiz.de/10005367957
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The real exchange rate in sticky price models: does investment matter?
Martinez-Garcia, Enrique; Søndergaard, Jens - Federal Reserve Bank of Dallas - 2008
This paper re-examines the ability of sticky-price models to generate volatile and persistent real exchange rates. We use a DSGE framework with pricing-to-market akin to those in Chari, et al. (2002) and Steinsson (2008) to illustrate the link between real exchange rate dynamics and what the...
Persistent link: https://www.econbiz.de/10005367958
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Variety, globalization, and social efficiency
Cox, W. Michael; Ruffin, Roy J. - Federal Reserve Bank of Dallas - 2008
Dixit-Stiglitz-Krugman model of monopolistic competition. We show how the gains from globalization are reflected in the … of sectors where globalization increases productivity through economies of scale. …
Persistent link: https://www.econbiz.de/10005367959
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Technical note on "The real exchange rate in sticky price models: does investment matter?"
Martinez-Garcia, Enrique; Søndergaard, Jens - Federal Reserve Bank of Dallas - 2008
This technical note is developed as a mathematical companion to the paper "The Real Exchange Rate in Sticky Price Models: Does Investment Matter?" (Institute working paper no. 17). It contains three basic calculations. First, we derive the equilibrium conditions of the model. Second, we compute...
Persistent link: https://www.econbiz.de/10005367963
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Globalization and inflation in Europe
Auer, Raphael; Degen, Kathrin; Fischer, Andreas M. - Federal Reserve Bank of Dallas - 2010
What is the impact of import competition from other low-wage countries (LWCs) on inflationary pressure in Western Europe? This paper seeks to understand whether labor-intensive exports from emerging Europe, Asia, and other global regions have a uniform impact on producer prices in Germany,...
Persistent link: https://www.econbiz.de/10008739772
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The southern states in a globalized economy
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2007
--in mastering--globalization. The key to adapting to and profiting from globalization lies in education." …
Persistent link: https://www.econbiz.de/10010723042
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A perspective on China
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2008
"In contemplating China, we need to look past carefully crafted images and deepen our understanding of her national interest. Failure to do so will be perilous." ; Remarks to a Working Dinner Sponsored by the Progress & Freedom Foundation, Aspen, Colorado, August 18, 2008.
Persistent link: https://www.econbiz.de/10010723054
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Selling our services to the world (with an ode to Chicago)
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2008
"The United States, like Chicago, can continue to prosper only if it faces economic change head-on, choosing to compete rather than retreat, seeking out new opportunities in a globalizing economy, where goods, services, money and ideas flow freely across international borders." ; Remarks before...
Persistent link: https://www.econbiz.de/10010723061