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investment funds traces out a meanvariance tradeoff for the growth rate of the economy. In particular, the volatility of these … the context of two partial equilibrium endogenous growth models. In our first model, the scale of fickle outside … regulation of outside investment may increase growth. Our second model involves increasing returns and multiple equilibria. In …
Persistent link: https://www.econbiz.de/10011091428
Recent cross-country studies on the globalization and output-inflation tradeoff correlation find openness has no … openness on the output-inflation trade off differ in sign and size across countries. In contrast to previous cross …
Persistent link: https://www.econbiz.de/10011092324
Abstract: The European sovereign debt crisis is characterized by the simultaneous surge in borrowing costs in the GIPS countries after 2008. We present a theory, which can account for the behavior of sovereign bond spreads in Southern Europe between 1998 and 2012. Our key theoretical argument is...
Persistent link: https://www.econbiz.de/10011199228
is of capital importance. We investigate the FDI-growth nexus in LA allowing for different source countries, regional … hetero- geneity, interaction terms with FDI, and more than 20 growth determinants. We use Bayesian Model Averaging to address … model uncertainty and to select the best mod- els and most robust parameters. The principal finding is that a positive FDI-growth …
Persistent link: https://www.econbiz.de/10011092658
in manufacturing. To relate these issues, we develop a leader-follower model with endogenous growth and dual labour … between unemployment and growth. The steady state relative productivity level and the corresponding rates of unemployment …
Persistent link: https://www.econbiz.de/10011091525
Where is the productivity growth from the IT revolution? Why did the skill premium rise sharply in the early eighties …? Were these phenomena related? This paper examines these questions in a general equilibrium model of growth. Technological … growth and an increase in inequality. …
Persistent link: https://www.econbiz.de/10011091698
In this study, we address whether the degree of financial liberalization affects the aggregated total volatility of … degree of financial liberalization impacts aggregated total volatility. We document a negative relation to the degree of …-sized markets. Moreover, the degree of financial liberalization transmits its negative impact on aggregated total volatility through …
Persistent link: https://www.econbiz.de/10011092874
In 1993, Czechoslovakia experienced a two-fold break-up: On January 1st, the country disintegrated as a political union, while preserving an economic and monetary union. Then, the Czech-Slovak monetary union collapsed on February 8th. We analyze the economic background of the two break-ups, and...
Persistent link: https://www.econbiz.de/10011092912
We exploit variation in consumer price inflation across 71 Russian regions to examine the relationship between the perceived stability of the domestic currency and financial dollarization. Our results show that regions with higher inflation experience an increase in the dollarization of...
Persistent link: https://www.econbiz.de/10011199227
and beyond the determinants of currency invoicing (i.e., ination rate, ination volatility, foreign exchange market size … drop in ination volatility. …
Persistent link: https://www.econbiz.de/10011090527