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Real exchange rate dynamics in Macedonia: Old wisdoms and new insights

Bogoev, Jane; Bojceva Terzijan, Sultanija; Égert, Balázs - Institut für Weltwirtschaft (IfW) - 2007

The ambition of this paper is to analyse real exchange rate dynamics in Macedonia relying on a highly disaggregated dataset. We complement the indirect evidence reported in Loko and Tuladhar (2005) and we provide direct evidence on the irrelevance of the Balassa-Samuelson effect for overall...

Persistent link: https://www.econbiz.de/10005026944

Capital mobility and growth

Diehl, Markus; Gundlach, Erich - Institut für Weltwirtschaft (IfW) - 1999

We suggest a new way to quantify the growth effects of capital mobility. We find that for reasonable parameter values, capital mobility has a large impact on income growth.

Persistent link: https://www.econbiz.de/10010955648

The New Growth Theories and Their Empirics after Twenty Years

Capolupo, Rosa - Institut für Weltwirtschaft (IfW) - 2008

core topics studied in the growth econometric framework, namely, convergence, identification of growth determinants and …

Persistent link: https://www.econbiz.de/10005083353

Cross-country growth empirics and model uncertainty: An overview

Ulaşan, Bülent - Institut für Weltwirtschaft (IfW) - 2011

The aim of this paper is to provide an overview of empirical cross-country growth literature. The paper begins with describing the basic framework used in recent empirical cross-country growth research. Even though this literature was mainly inspired by endogenous growth theories, the...

Persistent link: https://www.econbiz.de/10009294882

Assessing the Advantages of EMU-Enlargement for the EU and the Accession Countries: A Comparative Indicator Approach

Schweickert, Rainer - Institut für Weltwirtschaft (IfW) - 2001

The paper takes into account both the concerns of the EU, arguing that convergence is incomplete, and the demands from … accession countries, claiming that monetary integration is optimal. Indicators are developed which measure convergence and … benefits from monetary integration. The more serious problem is a lack of convergence which could imply serious risks during …

Persistent link: https://www.econbiz.de/10005076110

Markov or Not Markov, This Should Be a Question

Bickenbach, Frank; Bode, Eckhardt - Institut für Weltwirtschaft (IfW) - 2001

Although it is well known that Markov process theory, frequently applied in the literature on income convergence …

Persistent link: https://www.econbiz.de/10005755218

Current Account Imbalances and Income Inequality: Theory and Evidence

Al-Hussami, Fares; Remesal, Álvaro Martín - Institut für Weltwirtschaft (IfW) - 2012

In this paper we analyze theoretically and empirically the impact of an increase in income inequality on the current account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in income inequality can affect negatively or positively...

Persistent link: https://www.econbiz.de/10010886828

Are current account deficits sustainable? New evidence from Iran using bounds test approach to level relationship

Heidari, Hassan; Katircioglu, Salih Turan; Davoudi, Narmin - Institut für Weltwirtschaft (IfW) - 2012

This paper provides new evidence on the long-run relationship between exports and imports of the Iranian economy by employing bounds test approach to level relationship. In Iran, there have been many unusual policy changes and/or external shocks to the economy which resulted in the occurrence of...

Persistent link: https://www.econbiz.de/10010956087

A Note on Human Capital and the Feldstein-Horioka Puzzle

Katsimi, Margarita; Moutos, Thomas - Institut für Weltwirtschaft (IfW) - 2007

In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change.

Persistent link: https://www.econbiz.de/10005083333

Should We Trust the Empirical Evidence from Present Value Models of the Current Account?

Mercereau, Benoît; Miniane, Jacques Alain - Institut für Weltwirtschaft (IfW) - 2008

The present value model of the current account has been very popular, as it provides an optimal benchmark to which actual current account series have often been compared. We show why persistence in observed current account data makes the estimated optimal series very sensitive to small-sample...

Persistent link: https://www.econbiz.de/10005083366