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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

Are Ideas Getting Harder to Find?

Bloom, Nicholas - 2017

In many growth models, economic growth arises from people creating ideas, and the long-run growth rate is the product of two terms: the effective number of researchers and their research productivity. We present a wide range of evidence from various industries, products, and firms showing that...

Persistent link: https://www.econbiz.de/10012453929

Testing Uncovered Interest Parity at Short and Long Horizons during the Post-Bretton Woods Era

Chinn, Menzie D. - 2005

The hypothesis that interest rate differentials are unbiased predictors of future exchange rate movements has been almost universally rejected in empirical studies. In contrast to previous studies, which have used short-horizon data, we test this hypothesis using interest rates on...

Persistent link: https://www.econbiz.de/10012467610

A Decomposition of Global Linkages in Financial Markets Over Time

Forbes, Kristin J. - 2003

This paper tests if real and financial linkages between countries can explain why movements in the world's largest … between the world's 5 largest economies and about 40 other markets to decompose the cross-country factor loadings into: direct … to be the most important determinant of how movements in the world's largest markets affect financial markets around the …

Persistent link: https://www.econbiz.de/10012469145

Productivity and the Euro-Dollar Exchange Rate Puzzle

Alquist, Ron - 2002

This paper documents the evidence for a productivity based model of the dollar/euro real exchange rate over the 1985-2001 period. We estimate cointegrating relationships between the real exchange rate, productivity, and the real price of oil using the Johansen (1988) and Stock-Watson (1993)...

Persistent link: https://www.econbiz.de/10012469891

The New Empirical Economics of Management

Bloom, Nicholas - 2014

Over the last decade the World Management Survey (WMS) has collected firm-level management practices data across …

Persistent link: https://www.econbiz.de/10012458562

Does Uncertainty Reduce Growth? Using Disasters as Natural Experiments

Baker, Scott R. - 2013

A growing body of evidence suggests that uncertainty is counter cyclical, rising sharply in recessions and falling in booms. But what is the causal relationship between uncertainty and growth? To identify this we construct cross country panel data on stock market levels and volatility as proxies...

Persistent link: https://www.econbiz.de/10012459187

Turbulence, Firm Decentralization and Growth in Bad Times

Aghion, Philippe - 2017

What is the optimal form of firm organization during "bad times"? We present a model of delegation within the firm to show that the effect is ambiguous. The greater turbulence following macro shocks may benefit decentralized firms because the value of local information increases (the "localist"...

Persistent link: https://www.econbiz.de/10012455327

What is Social Capital? The Determinants of Trust and Trustworthiness

Glaeser, Edward L. - 1999

Using a sample of Harvard undergraduates, we analyze trust and social capital in two experiments. Trusting behavior and trustworthiness rise with social connection; differences in race and nationality reduce the level of trustworthiness. Certain individuals appear to be persistently more...

Persistent link: https://www.econbiz.de/10012471573

The Current Account and the Real Exchange Rate : A Structural VAR Analysis of Major Currencies

Lee, Jaewoo - 1998

A sticky-price model is used to motivate a structural VAR analysis of the current account and the real exchange rate for seven major industrialized countries (the US, Canada, the UK, Japan, Germany, France and Italy). The analysis is distinguished from previous work in that it adopts minimal...

Persistent link: https://www.econbiz.de/10012472307