Showing 1 - 10 of 14
We revisit medium- to long-run exchange rate determination, focusing on the role of international investment positions. To do so, we make use of a new econometric framework accounting for conditional long-run homogeneity in heterogeneous dynamic panel data models. In particular, in our model the...
Persistent link: https://www.econbiz.de/10010414236
Using panel data for 143 countries over the period 1973 - 2002, this paper empirically analyzes the influence of US aid on voting patterns in the UN General Assembly. We use disaggregated aid data to account for the fact that various forms of aid may differ in their ability to induce political...
Persistent link: https://www.econbiz.de/10003348645
Major DAC donors are widely criticized for weak targeting of aid, selfish aid motives and insufficient coordination. The emergence of an increasing number of new donors may further complicate the coordination of international aid efforts. On the other hand, new donors (many of which were aid...
Persistent link: https://www.econbiz.de/10008729138
This paper empirically analyzes the impact of aid on education for about 100 countries over the period 1970 - 2005. We estimate a system of equations to test whether and to what extent the impact of sector-specific aid on educational attainment depends on (i) the extent to which aid adds to...
Persistent link: https://www.econbiz.de/10003387352
In this paper, we analyze which currencies can be regarded as safe haven currencies. Our empirical approach allows us to distinguish between a low- and high stress regime, and to control for the impact of carry trade reversals and other fundamental determinants. We therefore address the question...
Persistent link: https://www.econbiz.de/10010433356
We examine the effects of increased international integration of both goods and financial markets on business cycle dynamics. To do so, we develop a new econometric framework for modelling cross-country spillovers in which the magnitude of these spillovers is an empirically determined function...
Persistent link: https://www.econbiz.de/10010414228
The "Great Lockdown" implemented in response to the COVID-19 pandemic has led to a severe world-wide economic crisis …
Persistent link: https://www.econbiz.de/10012250617
Recent empirical work has established that 'democracy causes growth'. In this paper, we determine the underlying institutions which drive this relationship using data from the Varieties of Democracy project. We sketch how incentives and opportunities as well as the distribution of political...
Persistent link: https://www.econbiz.de/10014334859
The COVID-19 pandemic increased pressure on the relationship between governments and the public, making cooperation between both actors more critical than ever. Surprisingly, there is significant variation in public compliance with health policies, especially regarding vaccine uptake across...
Persistent link: https://www.econbiz.de/10014430716
Survey data on inflation expectations show that: (i) private sector forecasts and central bank forecasts are not fully aligned and (ii) private sector forecasters disagree about inflation expectations. To reconcile these two facts we introduce dispersed information in a New Keynesian model,...
Persistent link: https://www.econbiz.de/10011520661