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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

Can Exchange Rates Forecast Commodity Prices?

Chen, Yu-Chin - 2008

We show that "commodity currency" exchange rates have remarkably robust power in predicting global commodity prices, both in-sample and out-of-sample, and against a variety of alternative benchmarks. This result is of particular interest to policymakers, given the lack of deep forward markets in...

Persistent link: https://www.econbiz.de/10012464746

International Migration and International Trade

Razin, Assaf - 1992

This paper surveys key developments in the theory of international migration and international trade, and provides a …

Persistent link: https://www.econbiz.de/10012474733

Business Cycle Volatility and Openness : An Exploratory Cross-Section Analysis

Razin, Assaf - 1992

This paper links business cycle volatility to barriers on international mobility of goods and capital. Theory predicts …

Persistent link: https://www.econbiz.de/10012474757

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

Social Security and Democracy

Mulligan, Casey B. - 2002

Many political economic theories use and emphasize the process of voting in their explanation of the growth of Social Security, government spending, and other public policies. But is there an empirical connection between democracy and Social Security program size or design? Using some new...

Persistent link: https://www.econbiz.de/10012469756

The World Distribution of Income (estimated from Individual Country Distributions)

Sala-i-Martin, Xavier - 2002

We estimate the world distribution of income by integrating individual income distributions for 125 countries between … hosted 11% of the world's poor in 1960. It hosted 66% of them in 1998. We estimate nine indexes of income inequality implied … by our world distribution of income. All of them show substantial reductions in global income inequality during the 1980s …

Persistent link: https://www.econbiz.de/10012469781

Current Account Reversals and Currency Crises : Empirical Regularities

Milesi-Ferrett, Gian Maria - 1998

This paper studies sharp reductions in current account deficits and large exchange rate depreciations in low- and middle-income countries. It examines which factors help predict the occurrence of a reversal or a currency crisis, and how these events affect macroeconomic performance. It finds...

Persistent link: https://www.econbiz.de/10012472191

The Mirage of Fixed Exchange Rates

Obstfeld, Maurice - 1995

This paper discusses the profound difficulties of maintaining fixed exchange rates in a world of expanding global …

Persistent link: https://www.econbiz.de/10012473688

Perspectives on PPP and Long-Run Real Exchange Rates

Froot, Kenneth A. - 1994

This paper reviews the large and growing literature which tests PPP and other models of the long-run real exchange rate. We distinguish three different stages of PPP testing and focus on what has been learned from each. The most important overall lesson has been that the real exchange rate...

Persistent link: https://www.econbiz.de/10012473947