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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
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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
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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
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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
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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
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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
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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
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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
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FDI and health in developed economies: a panel cointegration analysis
Herzer, Dierk; Nunnenkamp, Peter - Institut für Weltwirtschaft (IfW) - 2012
This paper examines the long-run effect of FDI on health in developed countries. Using panel cointegration techniques …
Persistent link: https://www.econbiz.de/10009653070
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Energy Saving Technology Diffusion via FDI and Trade: A CGE Model of China
Hübler, Michael - Institut für Weltwirtschaft (IfW) - 2009
This paper introduces intra- and inter-sectoral technology diffusion via FDI and imports into a recursive-dynamic CGE …
Persistent link: https://www.econbiz.de/10005818849