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The Euro’s Trade Effect under Cross-Sectional Heterogeneity and Stochastic Resistance
Herwartz, Helmut; Weber, Henning - Institut für Weltwirtschaft (IfW) - 2010
This paper investigates if the euro's effect on euro-area trade differs across trade sectors and across country pairs …, and to what degree heterogeneity matters for estimating the aggregate euro effect. Time-varying latent variables, which …, aggregate exports within the euro area increase between 2000 and 2002 by 15 to 25 percent compared with aggregate exports …
Persistent link: https://www.econbiz.de/10008550503
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Assessing the Advantages of EMU-Enlargement for the EU and the Accession Countries: A Comparative Indicator Approach
Schweickert, Rainer - Institut für Weltwirtschaft (IfW) - 2001
optimality in comparison with a reference group of the four EMU-member countries Greece, Ireland, Portugal, and Spain. The …
Persistent link: https://www.econbiz.de/10005076110
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A Model of an Optimum Currency Area
Ricci, Luca Antonio - Institut für Weltwirtschaft (IfW) - 2007
This paper develops a model of the circumstances under which it is beneficial to participate in a currency area. The proposed two-country monetary model of trade with nominal rigidities encompasses the real and monetary arguments suggested by the optimum currency area literature: correlation of...
Persistent link: https://www.econbiz.de/10005083391
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International Exchange Rate Systems - Where do we Stand?
Siebert, Horst - Institut für Weltwirtschaft (IfW) - 2006
This paper analyzes institutional arrangements for exchange rate systems and reviews what we know. It looks at the foreign exchange market, different balance of payment situations in which countries find themselves and the necessary exchange rate adjustments. It studies the options that are...
Persistent link: https://www.econbiz.de/10005700582
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Managing Disinflation under Uncertainty
Tesfaselassie, Mewael F.; Schaling, Eric - Institut für Weltwirtschaft (IfW) - 2008
In this paper we analyze disinflation policy when a central bank has imperfect information about private sector inflation expectations but learns about them from economic outcomes, which are in part the result of the disinflation policy. The form of uncertainty is manifested as uncertainty about...
Persistent link: https://www.econbiz.de/10005755117
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Why Donors of Foreign Aid Do Not Coordinate: The Role of Competition for Export Markets and Political Support
Fuchs, Andreas; Nunnenkamp, Peter; Öhler, Hannes - Institut für Weltwirtschaft (IfW) - 2013
Development assistance has been criticized for a lack of coordination between aid donors. This paper argues that competition for export markets and political support prevents donor countries from closer coordination of aid activities. To test these hypotheses, we perform logit and fractional...
Persistent link: https://www.econbiz.de/10010886960
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Structural heterogeneity and partial budgetary cooperation in a monetary union
Menguy, Séverine - Institut für Weltwirtschaft (IfW) - 2012
The paper analyzes the usefulness of budgetary cooperation in a monetary union, even if it is limited to a subgroup of countries with close structural characteristics. The author finds that its advantages depend on the nature of the shocks and on the width of the heterogeneities within the...
Persistent link: https://www.econbiz.de/10010956125
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Global Governance of Global Monetary Relations: Rationale and Feasibility
Frieden, Jeffry A. - Institut für Weltwirtschaft (IfW) - 2008
Is there a valid argument for international cooperation, and some form of international governance structure, in the international monetary realm? On the purely economic front, the argument is not strong. Yet a broader political economy approach concludes that national currency policy can in...
Persistent link: https://www.econbiz.de/10005083396
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Measuring Long-Run Exchange Rate Pass-Through
de Bandt, Olivier; Banerjee, Anindya; Kozluk, Tomasz - Institut für Weltwirtschaft (IfW) - 2007
The paper discusses the issue of estimating short- and long-run exchange rate pass-through to import prices in euro … estimation. The main finding is that allowing for possible breaks around the formation of EMU and the appreciation of the euro …
Persistent link: https://www.econbiz.de/10005083403
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Wage subsidies and international trade: When does policy coordination pay?
Braun, Sebastian; Spielmann, Christian - Institut für Weltwirtschaft (IfW) - 2012
National labour market institutions interact across national boundaries when product markets are global. Labour market policies can thus entail spill-overs, which suggests that there are benefits from international policy coordination. This paper studies the effects of wage subsidies in an...
Persistent link: https://www.econbiz.de/10009646509