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Freight Rates and Productivity Gains in British Tramp Shipping 1869-1950
Mohammed, Saif I. Shah - 2003
The standard source for pre-WWII global freight rate trends is the Isserlis British tramp shipping index. We think it … the precipitous decline in nominal freight rates before the World War I, but it also extends the series to the 1940s …. Furthermore, our new series is linked to the post-World War II era (documented by David Hummels), so that we can be more precise …
Persistent link: https://www.econbiz.de/10012469171
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Current Account Patterns and National Real Estate Markets
Aizenman, Joshua - 2008
This paper studies the association between the current account and real estate valuation across countries, subject to data availability [43 countries, of which 25 are OECD], during 1990 - 2005. We find robust and strong positive association between current account deficits and the appreciation...
Persistent link: https://www.econbiz.de/10012464726
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Globalization, Convergence and History
Williamson, Jeffrey G. - 1995
world commodity and factor markets, history offers an unambiguous positive correlation between globalization and convergence …. But is the correlation spurious? When the pre-World War I years are examined in detail, the correlation turns out to be …
Persistent link: https://www.econbiz.de/10012473616
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Did Vasco da Gama Matter for European Markets? Testing Frederick Lane's Hypotheses Fifty Years Later
O'Rourke, Kevin H. - 2005
spice markets were already well integrated with those in Iberia and northern Europe, implying that Portugal could not have …
Persistent link: https://www.econbiz.de/10012466787
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Capital Goods Prices, Global Capital Markets and Accumulation : 1870-1950
Collins, William J. - 1999
variety of tests for world financial capital market integration ranging from the correlation of saving and investment …
Persistent link: https://www.econbiz.de/10012471649
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Fiscal Space and Government-Spending & Tax-Rate Cyclicality Patterns : A Cross-Country Comparison, 1960-2016
Aizenman, Joshua - 2018
This paper compares fiscal cyclicality across advanced and developing countries, geographic regions as well as income levels over 1960-2016 period, then identifies factors that explain countries' government spending and tax-policy cyclicality. Public debt/tax base ratio provides a more robust...
Persistent link: https://www.econbiz.de/10012480665
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Net Fiscal Stimulus During the Great Recession
Aizenman, Joshua - 2011
This paper studies the patterns of fiscal stimuli in the OECD countries propagated by the global crisis. Overall, we find that the USA net fiscal stimulus was modest relative to peers, despite it being the epicenter of the crisis, and having access to relatively cheap funding of its twin...
Persistent link: https://www.econbiz.de/10012461878
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Endogenous Financial Openness : Efficiency and Political Economy Considerations
Aizenman, Joshua - 2003
This paper studies the endogenous determination of financial openness. We outline a framework where financial openness is endogenously determined by the authority's choice of financial repression as a taxation device, and where the private sector determines endogenously the magnitude of capital...
Persistent link: https://www.econbiz.de/10012468550
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Capital Goods Prices, Global Capital Markets and Accumulation, 1870-1950
Collins, William J. - 1999
variety of tests for world financial capital market integration ranging from the correlation of saving and investment …
Persistent link: https://www.econbiz.de/10012471889
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Exchange Market Pressure in OECD and Emerging Economies : Domestic vs. External Factors and Capital Flows in the Old and New Normal
Aizenman, Joshua - 2015
We study the ways domestic and external global factors (such as risk appetite, global liquidity, U.S. monetary policy, and commodity prices) affected the exchange market pressure before and after the global financial crisis as well as the role of these factors during the Federal Reserve's...
Persistent link: https://www.econbiz.de/10012457007