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movements remain an empirical question. Using detailed data from the United States, Canada, the United Kingdom, and Japan we …
Persistent link: https://www.econbiz.de/10012473743
fiscal surpluses in the US, the annual announcement of yet another fiscal stimulus package in Japan, and Maastricht limits on … fiscal deficits in Germany and the rest of Euroland. To the extent that the foreign exchange market anticipates that fiscal … across the G3 countries in their estimated dynamic responses to a fiscal shock. At first, and for several years thereafter …
Persistent link: https://www.econbiz.de/10012471719
, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and the United States. Together, the studies …This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France …
Persistent link: https://www.econbiz.de/10012467625
Trade theorists have come to understand that their theory is ambiguous on the question: Are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill...
Persistent link: https://www.econbiz.de/10012472755
Using a simple case study approach. this paper compares the conduct and performance of monetary policy in six Industrialized countries since the breakup of the Bretton Woods system. Our purpose is to develop fruitful hypotheses that might usefully be explored in subsequent, more formal research....
Persistent link: https://www.econbiz.de/10012474897
Over the past century the long-run growth of six economies shows a strong association between investment in machinery and economic growth that holds both within and across nations and periods. A similar strong association holds for the post-world War II period for a broader cross section of...
Persistent link: https://www.econbiz.de/10012475084
The paper characterizes predictable components in excess rates of returns on major equity and foreign exchange markets using lagged excess returns, dividend yields, and forward premiums as instruments. Vector autoregressive techniques demonstrate one-step-ahead predictability and provide implied...
Persistent link: https://www.econbiz.de/10012475210
This paper studies the international transmission of business cycles by developing a two-country real business-cycle model and confronting it with a broad set of empirical observations. These observations include variances and covariances of output, labor, consumption, employment, and investment...
Persistent link: https://www.econbiz.de/10012475480
Group-of-Five (G-5) countries: France, West Germany, Japan, United Kingdom and United states. It is assumed that all … France, West Germany and Japan, and between 8 and 10 percent per annum for the U.K. and the U.S. for the period under study …, the productive efficiencies of France, West Germany and Japan rose rapidly from less than 40 percent of the U.S. level in …
Persistent link: https://www.econbiz.de/10012475512
Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...
Persistent link: https://www.econbiz.de/10012453864