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Cattle Cycles
Rosen, Sherwin - 1993
U.S. beef cattle stocks are among the most periodic time-series in economics. A theory of cattle cycles is constructed … the demographic structure of the herd to respond cyclically to exogenous shocks in demand for beef and in production costs … evolution of cattle stock and beef consumption. These compare very closely to structural econometric time-series estimates over …
Persistent link: https://www.econbiz.de/10012474548
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Poisoned Grapes, Mad Cow, and Protectionism
Engel, Eduardo - 1999
British beef exports did not constitute a protectionist measure, while the US ban on Chilean fruit possibly classifies as such …
Persistent link: https://www.econbiz.de/10012471848
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Dynamic Equilibrium Economies : A Framework for Comparing Models and Data
Diebold, Francis X. - 1995
Many recent theoretical papers have come under attack for modeling prices as Geometric Brownian Motion. This process can diverge over time, implying that firms facing this price process can earn infinite profits. We explore the significance of this attack and contrast investment under Geometric...
Persistent link: https://www.econbiz.de/10012473890
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Regional Nonadjustment and Fiscal Policy : Lessons for EMU
Obstfeld, Maurice - 1999
How will countries handle idiosyncratic national macroeconomic shocks under the European single currency? The ways in which European countries now react to internally asymmetric shocks provide a better forecast than do the regional response pattern of the United States. In this paper we compare...
Persistent link: https://www.econbiz.de/10012471641
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Estimates of the Value of Patent Rights in European Countries During thePost-1950 Period
Schankerman, Mark - 1985
This paper examines the distribution of the values of patent rights in the United Kingdom, France, and Germany during the post-1950 period. These values are inferred from the behavior of patentees with respect to payment of renewal fees on their patents. A simple economic model of renewal...
Persistent link: https://www.econbiz.de/10012477430
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Global Effects of the Brexit Referendum : Evidence from US Corporations
Campello, Murillo - 2020
We show that the 2016 Brexit Referendum led American corporations to cut jobs and investment within US borders. Using establishment-level data, we document that these effects were modulated by the degree of reversibility of capital and labor. American job losses were particularly pronounced in...
Persistent link: https://www.econbiz.de/10012479238
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Non-Monetary News in Central Bank Communication
Cieslak, Anna - 2018
We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central banks and a comprehensive classification of events, we decompose news conveyed by central banks into news about monetary policy, economic growth, and separately, shocks to risk...
Persistent link: https://www.econbiz.de/10012480685
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Will Brexit Age Well? Cohorts, Seasoning and the Age-Leave Gradient, Past, Present and Future
Eichengreen, Barry - 2018
In the UK's 2016 referendum on EU membership, young voters were more likely than their elders to vote Remain. Applying new methods to a half century of data, we show that this pattern reflects both ageing and cohort effects. Although voters become more Eurosceptical as they age, recent cohorts...
Persistent link: https://www.econbiz.de/10012480870
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Brexit Uncertainty and Trade Disintegration
Graziano, Alejandro - 2018
We estimate the uncertainty effects of preferential trade disagreements. Increases in the probability of Britain's exit from the European Union (Brexit) reduce bilateral export values and trade participation. These effects are increasing in trade policy risk across products and asymmetric for UK...
Persistent link: https://www.econbiz.de/10012480985
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COVID-19 and SME Failures
Gourinchas, Pierre-Olivier - 2020
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012481180