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Staiger, Robert W.; Sykes, Alan O. - National Bureau of Economic Research (NBER) - 2008

Central bank intervention in foreign exchange markets may, under some conditions, stimulate exports and retard imports. In the past few years, this issue has moved to center stage because of the foreign exchange policies of China. China has regularly intervened to prevent the RMB from...

Persistent link: https://www.econbiz.de/10005050235

How Taxing is Corruption on International Investors?

Wei, Shang-Jin - National Bureau of Economic Research (NBER) - 1997

nor Japanese investors treat corruption in East Asia any differently from that in other parts of the world. There are …

Persistent link: https://www.econbiz.de/10005829099

Political Risk Spreads

Bekaert, Geert; Harvey, Campbell; Lundblad, Christian; … - National Bureau of Economic Research (NBER) - 2014

We introduce a new, market-based and forward looking measure of political risk derived from the yield spread between a country's U.S. dollar debt and an equivalent U.S. Treasury bond. We explain the variation in these sovereign spreads with four factors: global economic conditions,...

Persistent link: https://www.econbiz.de/10010951038

Geography, Policy, or Productivity? Regional Trade in five South American Countries, 1910-1950

Meissner, Christopher M.; Badia-Miró, Marc; … - National Bureau of Economic Research (NBER) - 2014

Regional trade in South America since independence has long been much smaller than would be expected if geography were the only constraint on trade. Several potential explanations exist: low technological and demand complementarities; low productivity; high barriers to trade. We first argue that...

Persistent link: https://www.econbiz.de/10011105917

Book Translations as Idea Flows: The Effects of the Collapse of Communism on the Diffusion of Knowledge

Abramitzky, Ran; Sin, Isabelle - National Bureau of Economic Research (NBER) - 2014

We use book translations as a new measure of international idea flows and study the effects of Communism's collapse in Eastern Europe on these flows. Using novel data on 800,000 translations and difference-in-differences approaches, we show that while translations between Communist languages...

Persistent link: https://www.econbiz.de/10011207428

The Dollar and its Discontents

Jeanne, Olivier - National Bureau of Economic Research (NBER) - 2012

Has the US dollar delivered the benefits that the rest of the world is expecting from its holdings of international …

Persistent link: https://www.econbiz.de/10010821957

The Euro and the global crises: finding the balance between short term stabilization and forward looking reforms

Aizenman, Joshua - National Bureau of Economic Research (NBER) - 2012

This paper analyzes reforms and adjustments in the context of the Euro and the global financial crises. Taking the perspective of the evolutionary approach to institutions, the formation of a new currency area is not unidirectional. The process leading to the euro is an example of a common...

Persistent link: https://www.econbiz.de/10010796691

Fiscal Unions

Werning, Iván; Farhi, Emmanuel - National Bureau of Economic Research (NBER) - 2012

We study cross-country insurance in a currency union with nominal price and wage rigidities. We provide two results that build the case for the creation of a fiscal union within a currency union. First, we show that, if financial markets are incomplete, the value of gaining access to any given...

Persistent link: https://www.econbiz.de/10010796697

Globalization, Democracy and Development

Braga de Macedo, Jorge A.; Oliveira Martins, Joaquim; … - National Bureau of Economic Research (NBER) - 2013

This paper addresses the interactions between globalization, the quality of democracy, and economic convergence using simultaneous estimation techniques. To reflect process, we use multi-dimensional, de facto, and continuous measures of democracy and globalization. To reflect context, as defined...

Persistent link: https://www.econbiz.de/10010796727

The Future of International Liquidity and the Role of China

Taylor, Alan M. - National Bureau of Economic Research (NBER) - 2013

and its possible ascension to reserve currency status. In an unstable and financially integrated world, governments …' precautionary demand for reserve assets is likely to increase. But the world then risks a third crisis of the global reserve system …, another re-run of the Triffin paradox, with an ever-growing emerging-world insurance demand loaded onto a small group of ever …

Persistent link: https://www.econbiz.de/10010951079