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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

Stuck on Gold : Real Exchange Rate Volatility and the Rise and Fall of the Gold Standard

Chernyshoff, Natalia - 2005

thought not, and theory offers ambiguous messages. A hard exchange-rate regime such as the gold standard might limit monetary … absorption in a world of real shocks and nominal stickiness. A simple model shows how a lack of flexibility can be discerned in …

Persistent link: https://www.econbiz.de/10012466876

The Time for Austerity : Estimating the Average Treatment Effect of Fiscal Policy

Jordà, Òscar - 2013

After the Global Financial Crisis a controversial rush to fiscal austerity followed in many countries. Yet research on the effects of austerity on macroeconomic aggregates was and still is unsettled, mired by the difficulty of identifying multipliers from observational data. This paper...

Persistent link: https://www.econbiz.de/10012459247

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

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

Productivity, Tradability, and the Long-Run Price Puzzle

Bergin, Paul - 2004

theory and history to be consistent for a wide range of underlying productivity shocks …

Persistent link: https://www.econbiz.de/10012468124

Trade Costs

Anderson, James E. - 2004

goods within countries, much of which makes economic sense. Theory looms large in our survey, providing interpretation and … and interpret gravity theory properly and to handle aggregation appropriately …

Persistent link: https://www.econbiz.de/10012468213