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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

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

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

The Value of MFN Treatment

Ghosh, Madanmohan - 1998

We discuss most favoured nation (MFN) treatment in trade agreements, suggesting that its value to individual countries depends critically on the relevant model solution concept used to evaluate it. We analyze both rights to MFN treatment in foreign markets, and the obligation to grant MFN...

Persistent link: https://www.econbiz.de/10012472344

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

Shining a Light on Purchasing Power Parities

Pinkovskiy, Maxim - 2018

study of PPP-adjusted estimates of GDP around the world between 1992 and 2010. First, we find that while market exchange … optimal. Using data from the Penn World Tables, we find that, indeed, it is optimal to only use the latest price data, and …

Persistent link: https://www.econbiz.de/10012453295

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

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