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(S,s) pricing: Does the heterogeneity wipe out the asymmetry on micro level?

Babutsidze, Zakaria - Institut für Weltwirtschaft (IfW) - 2010

This paper presents a model of asymmetric (S,s) pricing. We investigate whether the asymmetry on micro level is carried … conclude that the first type of asymmetry can be attributed to the differences in adjustment bands and that heterogeneity … softens this effect. The second type of asymmetry is the result of pricing behavior, thus of agent heterogeneity itself. …

Persistent link: https://www.econbiz.de/10008597181

The Ugly and the Bad: Banking and Housing Crises Strangle Output Permanently, Ordinary Recessions Do Not

Hogrefe, Jens; Jannsen, Nils; Meier, Carsten-Patrick - Institut für Weltwirtschaft (IfW) - 2010

This paper provides statistical evidence suggesting that in industrial countries, recessions that are associated with either banking crises or housing crises dampen output far more than ordinary recessions. Using a parametric panel framework that allows for a bounceback of the level of output in...

Persistent link: https://www.econbiz.de/10008540816

Wechselkursunsicherheit und Außenhandel: Eine Analye der theoretischen Literatur

Fischer, Malte - Institut für Weltwirtschaft (IfW) - 1997

The impact of exchange rate uncertainty on international trade has been discussed controversially in economic policy and theory for a long time. The paper surveys the theoretical investigations on this topic. The early modeis which analyse the influence of exchange rate uncertainty on trade,...

Persistent link: https://www.econbiz.de/10009276144

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

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 area countries and reviews some problems with the measures recently proposed in the literature. Theoretical considerations suggest a long-run Engle and Granger cointegrating...

Persistent link: https://www.econbiz.de/10005083403

Global Current Account Imbalances and Exchange Rate Adjustment: The Role of Oil Suppliers Valuation Effects and Interest Rate Changes

Oberpriller, Christian M. - Institut für Weltwirtschaft (IfW) - 2007

The present paper extends the Obstfeld and Rogoff (2005) framework of current account imbalances by the oil exporting countries as a fourth region. It sets the stage for a variety of analysis that can be conducted within a four-region-setting that accounts for the importance of OPEC as a major...

Persistent link: https://www.econbiz.de/10005700490

Exchange Rates and Global Imbalances: The Importance of Asset Valuation Effects and Interest Rate Changes

Oberpriller, Christian M. - Institut für Weltwirtschaft (IfW) - 2007

This paper analyzes two effects which might have an important impact on a reduction of global external imbalances. These are valuation effects on the one hand and interest rate effects on the other hand. We use a four-region model that is based on the models by Obstfeld and Rogoff (2005) and...

Persistent link: https://www.econbiz.de/10005818773

Exchange-Rate Misalignments in Duopoly: The Case of Airbus and Boeing

Bénassy-Quéré, Agnès; Fontagné, Lionel; Raff, Horst - Institut für Weltwirtschaft (IfW) - 2009

We examine the effect of exchange-rate misalignments on competition in the market for large commercial aircraft. This market is a duopoly where players compete in dollar-denominated prices while one of them, Airbus, incurs costs mostly in euros. We construct and calibrate a simulation model to...

Persistent link: https://www.econbiz.de/10005818816