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Persistent link: https://www.econbiz.de/10005387331
The U.S. service surplus soared from near zero in 1985 to about $60 billion in 1992, offsetting about two thirds of the goods trade deficit. Could this merely reflect improvement in data collection? Or does this mean U.S. services industries are more competitive internationally than goods...
Persistent link: https://www.econbiz.de/10005387357
Persistent link: https://www.econbiz.de/10005387385
We review evidence on the Great Moderation together with evidence about volatility trends at the micro level to develop a potential explanation for the decline in aggregate volatility since the 1980s and its consequences. The key elements are declines in firm-level volatility and aggregate...
Persistent link: https://www.econbiz.de/10004994124
We show that equity markets are typically two-sided and that trades cluster in certain trading intervals for both NYSE …
Persistent link: https://www.econbiz.de/10005420484
-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions …We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general … after calibrating the model to the euro area against the rest of the industrial world. First, greater competition produces …
Persistent link: https://www.econbiz.de/10002101549
industry is unusual because there exist two horizontally segmented retail markets with different degrees of competition: the … predicts that competition is the key driver of the rate at which technology is adopted. …
Persistent link: https://www.econbiz.de/10008598716
Remarks at the 2013 OTC Derivatives Conference, Paris, France.
Persistent link: https://www.econbiz.de/10010724977
Remarks at the Foreign Policy Association Corporate Dinner, New York City
Persistent link: https://www.econbiz.de/10010725011
Remarks before the Puerto Rico Chamber of Commerce Annual Convention, Fajardo, Puerto Rico.
Persistent link: https://www.econbiz.de/10010725015