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Climate Change Adaptation : Lessons from Urban Economics
Kahn, Matthew E. - 2014
In an urbanizing world economy featuring thousands of cities, households and firms have strong incentives to make locational investments and self protection choices to reduce their exposure to new climate change induced risks. This pursuit of self interest reduces the costs imposed by climate...
Persistent link: https://www.econbiz.de/10012457950
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Can Foreign Aid Accelerate Stabilization?
Casella, Alessandra - 1994
This paper studies the effect of foreign aid on economic stabilization. Following Alesina and Drazen (1991), we model the delay in stabilizing as the result of a distributional struggle: reforms are postponed because they are costly and each distributional faction hopes to reduce its share of...
Persistent link: https://www.econbiz.de/10012474234
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Making Progress on Foreign Aid
Qian, Nancy - 2014
Foreign aid is one of the most important policy tools that rich countries use for helping poor countries to improve population well-being and facilitate economic and institutional development. The empirical evidence on its benefits is mixed and has generated much controversy. This paper presents...
Persistent link: https://www.econbiz.de/10012458254
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Monetary Policy in the Open Economy Revisited : Price Setting and Exchange Rate Flexibility
Devereux, Michael B. - 2000
This paper develops a welfare-based model of monetary policy in an open economy. We focus on the extent to which monetary policy should be employed in maintaining the exchange rate. The traditional approach maintains that exchange rate flexibility is desirable in the presence of real...
Persistent link: https://www.econbiz.de/10012471102
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Do You Know That I Know That You Know...? Higher-Order Beliefs in Survey Data
Coibion, Olivier - 2018
We implement a new survey of firms, focusing on their higher-order macroeconomic expectations. The survey provides a novel set of stylized facts regarding the relationship between first-order and higher-order expectations of economic agents, including how they adjust their beliefs in response to...
Persistent link: https://www.econbiz.de/10012480640
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The French (Trade) Revolution of 1860 : Intra-Industry Trade and Smooth Adjustment
Becuwe, Stéphane - 2018
The Cobden-Chevalier treaty of 1860 eliminated many French import prohibitions and lowered tariffs between France and Britain. Policy change was largely unexpected and unusually free from direct lobbying. A series of commercial treaties with other nations followed because of the use of the...
Persistent link: https://www.econbiz.de/10012480825
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The Micro-Macro Disconnect of Purchasing Power Parity
Bergin, Paul R. - 2009
This paper reconciles the persistence of aggregate real exchange rates with the faster adjustment of international relative prices in microeconomic data. Panel estimation of an error correction model using a micro data set uncovers new stylized facts regarding this puzzle. First, adjustment to...
Persistent link: https://www.econbiz.de/10012463026
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Pollution, Health, and Avoidance Behavior : Evidence from the Ports of Los Angeles
Moretti, Enrico - 2009
A pervasive problem in the literature on the health costs of pollution is that optimizing individuals may compensate for increases in pollution by reducing their exposure to protect their health. This implies that estimates of the health effects of pollution may vastly understate the full...
Persistent link: https://www.econbiz.de/10012463709
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Adaptation and the Boundary of Multinational Firms
Costinot, Arnaud - 2009
integration is to facilitate adaptation in a world where uncertainty is resolved over time. This paper offers the first empirical … analysis of the impact of adaptation on the boundary of multinational firms. To do so, we first develop a ranking of sectors in … demonstrate that, in line with adaptation theories of the firm, the share of intrafirm trade tends to be higher in less routine …
Persistent link: https://www.econbiz.de/10012463979
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Are There Thresholds of Current Account Adjustment in the G7?
Clarida, Richard H. - 2006
We find evidence of threshold behavior in current account adjustment for the G7 countries, such that the dynamics of adjustment towards equilibrium depend upon whether the current-account/ net-output ratio breaches estimated, country specific current account surplus or deficit thresholds. Both...
Persistent link: https://www.econbiz.de/10012466475