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Financial Globalization and Real Regionalization
Heathcote, Jonathan - 2002
Over the period 1972-1986, the correlations of GDP, employment and investment between the United States and an aggregate of Europe, Canada and Japan were respectively 0.76, 0.66, and 0.63. For the period 1986 to 2000 the same correlations were much lower: 0.26, 0.03 and -0.07 (real...
Persistent link: https://www.econbiz.de/10012469415
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Comovement in GDP Trends and Cycles Among Trading Partners
Blonigen, Bruce A. - 2012
It has long been recognized that business cycle comovement is greater between countries that trade intensively with one another. Surprisingly, no one has previously examined the relationship between trade intensity and comovement of shocks to the trend level of output. Contrary to the result for...
Persistent link: https://www.econbiz.de/10012460627
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The Domestic and International Effects of Interstate U.S. Banking
Ghironi, Fabio - 2010
deficit. The rest of the world experiences a long-run increase in GDP and consumption. Less monopoly power in financial …
Persistent link: https://www.econbiz.de/10012462044
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The Comovement of Returns and Investment Within the Multinational Firm
Desai, Mihir A. - 2004
Can financial integration, particularly the cross-border investments of multinational firms, help explain the synchronization of business cycles? This paper presents evidence on the comovement of returns and investment within U.S. multinational firms to address this question. These firms...
Persistent link: https://www.econbiz.de/10012467905
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Financial Regulation, Financial Globalization and the Synchronization of Economic Activity
Kalemli-Ozcan, Sebnem - 2009
We analyze the impact of financial globalization on business cycle synchronization utilizing a proprietary database on banks' international exposure for industrialized countries during 1978- 2006. Theory makes ambiguous predictions and identification has been elusive due to lack of bilateral...
Persistent link: https://www.econbiz.de/10012008492
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Business Cycles in the Euro Area
Giannone, Domenico - 2008
This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...
Persistent link: https://www.econbiz.de/10012464118
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Modeling the Impact of Warming in Climate Change Economics
Pindyck, Robert S. - 2010
and consumption. Most integrated assessment models (IAMs) relate temperature to the level of real GDP and consumption, but … uncertainty over future temperature change and its impact? I address these questions by estimating the fraction of consumption …
Persistent link: https://www.econbiz.de/10012462960
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Trade Linkages and Output-Multiplier Effects : A Structural VAR Approach with a Focus on Asia
Abeysinghe, Tilak - 2001
This paper develops a structural VAR model to measure how a shock to one country can affect the GDP of other countries …. It uses trade linkages to estimate the multiplier effects of a shock as it is transmitted through other countries' output …-trade matrix. For example, due to these output-multiplier effects, a shock to one country can have a large impact on countries that …
Persistent link: https://www.econbiz.de/10012470116
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Variable Factor Utilization and International Business Cycles
Baxter, Marianne - 2001
When an economic boom produces high output, employment, and investment in the United States, there is usually a simultaneous boom in other industrialized countries. But, why? Answering this question is a central goal of international macroeconomics. However, multi-country dynamic equilibrium...
Persistent link: https://www.econbiz.de/10012470328
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Business Cycles and the Asset Structure of Foreign Trade
Baxter, Marianne - 1994
business cycles, since these govern the extent to which individuals can smooth consumption in the presence of country …
Persistent link: https://www.econbiz.de/10012473924