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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 role of globalization in the financial crisis and recovery
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2009
comments on where we are likely to go from here, making the point that globalization is still very much alive and that, like …
Persistent link: https://www.econbiz.de/10010726000
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Trade deficits and the health of the U.S. economy
Fisher, Richard W. - Federal Reserve Bank of Dallas - 2006
Remarks before the Little Rock Rotary Club, Little Rock, February 14, 2006 ; "If we create the conditions to let our private sector do what it does by its very nature--constantly adapt and reposition itself--then we have nothing to fear from competition from our trading partners, including those...
Persistent link: https://www.econbiz.de/10010726042
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Financial globalization, financial frictions and optimal monetary policy
Faia, Ester; Iliopulos, Eleni - Federal Reserve Bank of Dallas - 2010
How should monetary policy be optimally designed in an environment with high degrees of financial globalization? To … versus pegged) shows that the impossible trinity is reversed: a higher degree of financial globalization, by inducing more …
Persistent link: https://www.econbiz.de/10008465685
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Globalization of production and the technology transfer paradox
Lai, Edwin - Federal Reserve Bank of Dallas - 2008
This paper develops a growth model aimed at understanding the effects of globalization of production on rate of … imitation. Globalization of production resulting from trade liberalization and imitation of the North’s technology by the South … globalization of production lowers the wage of Southern labor relative to that of its counterpart in the North. This poses a …
Persistent link: https://www.econbiz.de/10004993778
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The effect of trade with low-income countries on U.S. industry
Auer, Raphael; Fischer, Andreas M. - Federal Reserve Bank of Dallas - 2008
When labor-abundant nations grow, their exports increase more in labor-intensive sectors than in capital-intensive sectors. We utilize this sectoral difference in how exports are affected by growth to identify the causal effect of trade with low-income countries (LICs) on U.S. industry. Our...
Persistent link: https://www.econbiz.de/10004993847
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Monetary policy strategy in a global environment
Moutot, Philippe; Vitale, Giovanni - Federal Reserve Bank of Dallas - 2009
Since the mid-1980s the world economy has gone through profound transformations of which the sources and effects are probably not yet completely understood. The process of continuous integration in trade, production and financial markets across countries and economic regions—which is what is...
Persistent link: https://www.econbiz.de/10005498677
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The role of direct flights in trade costs
Yilmazkuday, Demet; YILMAZKUDAY, HAKAN - Federal Reserve Bank of Dallas - 2014
The role of direct flights in trade costs is investigated by introducing and using a micro price data set on 49 goods across 433 international cities covering 114 countries. It is shown that having at least one direct flight reduces trade costs by about 1,400 miles in distance equivalent terms,...
Persistent link: https://www.econbiz.de/10010772604
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Vertical specialization and international business cycle synchronization
Arkolakis, Costas; Ramanarayanan, Ananth - Federal Reserve Bank of Dallas - 2008
We explore the impact of vertical specialization—trade in goods across multiple stages of production—on the relationship between trade and international business cycle synchronization. We develop a model in which the degree of vertical specialization is endogenously determined by comparative...
Persistent link: https://www.econbiz.de/10005367956
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Exchange rate pass-through in a competitive model of pricing-to-market
Auer, Raphael; Chaney, Thomas - Federal Reserve Bank of Dallas - 2009
This paper extends the Mussa and Rosen (1978) model of quality-pricing under perfect competition. Exporters sell goods of different qualities to consumers who have heterogeneous preferences for quality. Production is subject to decreasing returns to scale and, therefore, supply and the toughness...
Persistent link: https://www.econbiz.de/10005367961