Showing 1 - 10 of 35
This article examines the volatility dependence between the crude oil price and four US dollar exchange rates using … both fractional cointegration and copula techniques. The former exploits the long memory behavior of the volatility … to explore whether the volatility of the markets are linked in the short run. The cointegration results conclude in favor …
Persistent link: https://www.econbiz.de/10010933834
In the light of the economically rational expectation theory, this article shows how an expert chooses an optimal oil price forecast function given that information is costly. In this framework we propose an expectational process which nests all processes considered in the literature. By...
Persistent link: https://www.econbiz.de/10008789498
The purpose of this paper is to formalize the choices of market entry strategy (Export Vs Greenfield investment Vs Cross … export credible threats. If greenfield FDI is viable, entering firm prefers acquiring the low-productivity firm, when the …, there is always the ambiguity between the foreign firm's preference and the government's judgment. If export entry option is …
Persistent link: https://www.econbiz.de/10010899386
Multinational and exporting firms play a key role in trade patterns. To highlight the importance of intra-firm trade in share of world trade, this paper develops a model of trade and intra-firm trade with heterogeneous firms. In this set up, trade costs apply to both exports and multinational...
Persistent link: https://www.econbiz.de/10010899726
This article uses the European Patent Office Worldwide Patent Statistical Database to examine the geographic distribution and global diffusion of inventions in thirteen climate-mitigation technologies since 1978. The data suggest that until 1990 innovation was driven mostly by energy prices....
Persistent link: https://www.econbiz.de/10008792117
This article unearths the determinants of the volatility of aggregate and firm-level production proxied by output and … volatility. Similarly to their conclusions, I establish that firm volatility is not driven by a compositional bias in my sample …-level and aggregate level volatility due in part to the 2007 financial crisis. …
Persistent link: https://www.econbiz.de/10010820876
instruments to manage food price volatility. Many developing countries recently pursued price regulation policies, but the … policy to lower food price volatility does not depend on the nature of the policy instrument only, but also on the … be key factor influencing the degree of price volatility. Applied to trade policies, this consistency is defined by the …
Persistent link: https://www.econbiz.de/10010821035
not export to many more countries, but they export to more distant ones. This comes with a greater geographic diversi … cation of their aggregate exports. In contrast to low-end export(er)s, we find that distance has almost no eff ect on high …-end variety export(er)s. We also show that high-end export(er)s are more sensitive to the average income of the destination …
Persistent link: https://www.econbiz.de/10010821212
This paper studies empirically the link between remittances and growth volatility by examining the impact of … of moment (GMM) technique for a sample of 63 countries over the 1980-2004 period. The volatility of terms of trade and … inflation is used to proxy for real and monetary volatility, respectively. The results show that the impact of remittances on …
Persistent link: https://www.econbiz.de/10010738454
This paper investigates the relationship between trust and macroeconomic volatility. In a cross section of countries … changes in inherited trust over the XXth century to show that increasing trust also decreases volatility across time. Thus … reduces investment volatility but not public expenditure volatility. …
Persistent link: https://www.econbiz.de/10010738740