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We extend a standard New Keynesian model both to incorporate heterogeneity in spending opportunities along with two sources of (potentially time-varying) credit spreads and to allow a role for the central bank's balance sheet in determining equilibrium. We use the model to investigate the...
Persistent link: https://www.econbiz.de/10008636146
market countries we estimate that vertical specialization accounts for up to 30 percent of world exports, and has grown as …
Persistent link: https://www.econbiz.de/10005526268
Persistent link: https://www.econbiz.de/10005387327
-through. Second, we test and quantify the theoretical mechanisms using Belgian firm-product-level data with information on exports by … destination and imports by source country. We confirm that import intensity and market share are the prime determinants of pass …
Persistent link: https://www.econbiz.de/10010599270
. Aggregate data on prices and quantities of imports, outputs, and factor supplies are constructed from disaggregate sources. The … final goods prices. In contrast, imports have played a negligible direct role. …
Persistent link: https://www.econbiz.de/10005526274
In the evolving analysis of global imbalances, the possibility that countries will resort to increased protectionism is often mentioned but rarely analyzed. This paper attempts to fill that gap, examining the macroeconomic implications of a shift to protectionist policies through the lens of a...
Persistent link: https://www.econbiz.de/10005420533
With "home bias," a consumer differentiates between domestic goods and imports and tends to purchase the domestic …, thus making imports prohibitively expensive? Is there some inherent distrust of a foreign product? ; This paper probes the … enterprises, in addition to data on U.S. bilateral exports and domestic sales by host-country firms. ; I find that the apparent …
Persistent link: https://www.econbiz.de/10005420538
Remarks at Queens Chamber of Commerce and Queens Economic Development Corporation, Flushing, New York City.
Persistent link: https://www.econbiz.de/10010724943
Remarks at the Center for the New Economy 2010 Economic Conference, San Juan, Puerto Rico.
Persistent link: https://www.econbiz.de/10010725042
. According to theory, the optimal invoicing choice for an accession country depends on its composition of exports and imports and … degree of euro-denominated invoicing of exports. I find that the exporters in some accession countries might be pricing too …
Persistent link: https://www.econbiz.de/10005526311