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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

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

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

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

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

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

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

The Optimal Transfer of Capital and Embodied Technologies to Developing Countries

Hübler, Michael; Lontzek, Thomas S. - Institut für Weltwirtschaft (IfW) - 2009

optimal development policy requires FDI to be matched by investment into the absorptive capacity …

Persistent link: https://www.econbiz.de/10005818868

Openness, Intermediate Imports and Growth

Kopp, Andreas - Institut für Weltwirtschaft (IfW) - 2000

We consider two channels via which foreign inputs into industrial production may lead to productivity effects. The first one concerns dynamic externalities between firms which share technical and organizational knowledge which is vital for the productivity growth of a particular industry. We...

Persistent link: https://www.econbiz.de/10005818876

Does the East Get What Would Otherwise Flow to the South? FDI Diversion in Europe

Buch, Claudia M.; Kokta, Robert M.; Piazolo, Daniel - Institut für Weltwirtschaft (IfW) - 2001

This paper examines the FDI flows towards two regions in the periphery of Europe: the Central and Eastern European … countries (CEECs) and the countries of Southern Europe. We investigate whether evidence exists for FDI diversion from Southern … Europe to the CEECs. A cursory observation of recent FDI trends might give rise to such claims of diversion. On the basis of …

Persistent link: https://www.econbiz.de/10005818889

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