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The Feldstein-Horioka paradox: A selective survey of the literature

Lapp, Susanne - Institut für Weltwirtschaft (IfW) - 1996

The paper provides a selective survey of the literature on the Feldstein-Horioka paradox. The observed high correlation between national savings and domestic investment emerges as a robust empirical regularity. If this regularity is to be attributed to low capital mobility (due to government...

Persistent link: https://www.econbiz.de/10009276713

Exchange Rate Forecasts and Expected Fundamentals

Dick, Christian D.; MacDonald, Ronald; Menkhoff, Lukas - Institut für Weltwirtschaft (IfW) - 2014

Using a large panel of individual professionals' forecasts, this paper demonstrates that good exchange rate forecasts are related to a proper understanding of fundamentals, specifically good interest rate forecasts. This relationship is robust to individual fixed effects and further controls....

Persistent link: https://www.econbiz.de/10011074718

The Integration of Imperfect Financial Markets: Implications for Business Cycle Volatility

Buch, Claudia M.; Pierdzioch, Christian - Institut für Weltwirtschaft (IfW) - 2003

During the last two decades, the degree of openness of national financial systems has increased substantially. At the same time, asymmetries in information and other financial market frictions have remain prevalent. We study both empirically and theoretically the implications of the opening up...

Persistent link: https://www.econbiz.de/10005818794

Volatility Spillover in the Foreign Exchange Market: The Indian Experience

Ghosh, Saurabh - Institut für Weltwirtschaft (IfW) - 2012

We find evidences of significant volatility co-movements and/ or spillover from different financial markets to forex market for Indian economy. Among a large number of variables examined, volatility spillovers from stock market, government securities market, overnight index swap, Ted spread and...

Persistent link: https://www.econbiz.de/10010886827

Monetary policy shocks and macroeconomic variables: Evidence from fast growing emerging economies

Ivrendi, Mehmet; Yildirim, Zekeriya - Institut für Weltwirtschaft (IfW) - 2013

This paper investigates both the effects of domestic monetary policy and external shocks on fundamental macroeconomic variables in six fast growing emerging economies: Brazil, Russia, India, China, South Africa and Turkey - denoted hereafter as BRICS_T. The authors adopt a structural VAR model...

Persistent link: https://www.econbiz.de/10010956075

Sources of Euro Real Exchange Rate Fluctuations: What Is Behind the Euro Weakness in 1999-2000?

Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - Institut für Weltwirtschaft (IfW) - 2001

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

Persistent link: https://www.econbiz.de/10005700511

Foreign Direct Investment and Trade: A Bi-directional Gravity Approach

Harach, Monika; Rodriguez-Crespo, Ernesto - Institut für Weltwirtschaft (IfW) - 2014

implemented to analyze the effect of inward foreign direct investment (FDI) on exports. We use cross-sectional HS trade data … disaggregated at a 6-digit level in 2010 with controls for HS 2-digit level. Our results show that FDI increases exports only in the … effect is different across sections. Our robustness checks show that when FDI is removed, the coefficients and the effect on …

Persistent link: https://www.econbiz.de/10011162481

Does growth attract FDI?

Iamsiraroj, Sasi; Doucouliagos, Hristos - Institut für Weltwirtschaft (IfW) - 2015

FDI is seen widely as a vital source of investment, technology transfer, and growth. The factors that attract FDI have … factor, the success of economic growth in attracting FDI. Meta-regression analysis is applied to 946 estimates from 140 … empirical studies. The authors show that there is a robust positive correlation between growth and FDI. Significantly larger …

Persistent link: https://www.econbiz.de/10011203162

A New Global Index of Infrastructure: Construction, Rankings and Applications

Donaubauer, Julian; Meyer, Birgit; Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2014

exemplify possible applications related to trade and FDI. By overcoming several data limitations, our new global index can help …

Persistent link: https://www.econbiz.de/10010886848

FDI and Income Inequality - Evidence from Latin American Economies

Herzer, Dierk; Hühne, Philipp; Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2012

We analyze whether foreign direct investment (FDI) has contributed to the typically wide income gaps in five Latin … FDI stocks on income inequality among households in Bolivia, Chile, Colombia, Mexico and Uruguay. The panel cointegration … analysis reveals a significant and positive effect on income inequality. Furthermore, FDI contributed to widening income gaps …

Persistent link: https://www.econbiz.de/10010887002