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Determinants of Long-Term Growth : A Bayesian Averaging of Classical Estimates (BACE) Approach

Doppelhofer, Gernot - 2000

This paper examines the robustness of explanatory variables in cross-country economic growth regressions. It employs a novel approach, Bayesian Averaging of Classical Estimates (BACE), which constructs estimates as a weighted average of OLS estimates for every possible combination of included...

Persistent link: https://www.econbiz.de/10012471000

Capital Flows, the Current Account, and the Real Exchange Rate : Consequences of Liberalization and Stabilization

Obstfeld, Maurice - 1984

This paper develops a dynamic framework in which macroeconomic liberalization and stabilization measures of the type recently seen in Latin America can be studied. The model is sufficiently general to cover both polar cases of a closed capital account and free private capital mobility, so the...

Persistent link: https://www.econbiz.de/10012477560

Covered Interest Parity Deviations : Macrofinancial Determinants

Cerutti, Eugenio M. - 2019

For several decades until the Global Financial Crisis (GFC), Covered Interest Parity (CIP) appeared to hold quite closely--even as a broad macroeconomic relationship applying to daily or weekly data. Not only have CIP deviations significantly increased since the GFC, but potential macrofinancial...

Persistent link: https://www.econbiz.de/10012480075

Is Trade Good or Bad for the Environment? Sorting Out the Causality

Frankel, Jeffrey A. - 2002

evidence that trade has the detrimental effect on the environment that the race-to-the-bottom theory would lead one to expect …

Persistent link: https://www.econbiz.de/10012469508

Consumption Risk and International Asset Returns : Some Empirical Evidence

Cumby, Robert E. - 1987

The paper examines if real stock returns in four countries are consistent with consumption-based models of international asset pricing. The paper finds that ex-ante real stock returns exhibit statistically significant fluctuations over time and that these fluctuations cannot be explained by...

Persistent link: https://www.econbiz.de/10012476685

Natural and Neutral Real Interest Rates : Past and Future

Obstfeld, Maurice - National Bureau of Economic Research - 2023

This paper surveys the decline in real interest rates in advanced and emerging economies over the past several decades, linking that process to a range of global factors that have operated with different force in different periods. The paper argues that estimates of long-run equilibrium real...

Persistent link: https://www.econbiz.de/10014447270

Foreign Affiliate Sales and Trade in Both Goods and Services

Li, Chunding - 2010

(1994) and the GATS there is an incompatibility between measures of world trade in goods and services. Measures of goods …

Persistent link: https://www.econbiz.de/10012462384

How Large are the Impacts of Carbon Motivated Border Tax Adjustments

Dong, Yan - 2009

increases, and other country's production decreases compared with the case of no BTAs. With the contraction of world trade flows … caused by the financial crisis, carbon motivated BTAs offer a prospect of a compounding effect in a world which is going …This paper discusses the size of impact of carbon motivated border tax adjustments on world trade. We report numerical …

Persistent link: https://www.econbiz.de/10012463037

An Elaborated Global Climate Policy Architecture : Specific Formulas and Emission Targets for All Countries in All Decades

Frankel, Jeffrey A. - 2009

This paper analyzes a detailed plan to set quantitative national limits on emissions of greenhouse gases, following along the lines of the Kyoto Protocol. It is designed to fill in the most serious gaps: the absence of targets extending as far as 2100, the absence of participation by the United...

Persistent link: https://www.econbiz.de/10012463771

Globalization, Macroeconomic Performance, and the Exchange Rates of Emerging Economies

Obstfeld, Maurice - 2004

Among the developing countries of the world, those emerging markets that have sought some degree of integration into … world finance are characterized by higher per capita incomes, higher long-run growth rates, and lower output and consumption …

Persistent link: https://www.econbiz.de/10012467840