Showing 1 - 10 of 128
This paper analyzes the role of the United States in the global economy and examines the extent of global spillovers from changes in U.S. growth, monetary and fiscal policies, and uncertainty in its financial markets and economic policies. Developments in the U.S. economy, the world's largest,...
Persistent link: https://www.econbiz.de/10012963312
The recent rise of populism and authoritarian politics has seen a turn from multilateralism and toward international disputes like that between the US and China. This paper uses a calibrated global macro model to assess the potential economic consequences of this conflict under explicit...
Persistent link: https://www.econbiz.de/10012893621
targeting are examined using a calibrated global macro model that embodies both trade and financial interdependencies. For both …
Persistent link: https://www.econbiz.de/10012869916
–2017. In addition, the study examines the role of trade openness in influencing the relationship between oil abundance and … economic growth. The study finds that trade openness is a possible avenue to reduce the resource curse. Trade openness allows … themselves to international trade …
Persistent link: https://www.econbiz.de/10012860772
This paper develops and analyzes a model of international trade comprising multiproduct firms that can produce a range … explores the heterogeneous effects of trade liberalization on multi-product firm behaviour and quality range choices. Under … trade liberalization, small domestic firms experience a shrinkage of their product quality range, while even the new small …
Persistent link: https://www.econbiz.de/10013250907
Uncertainty shocks have been shown to affect the real economy, but uncertainty remains about their trade effects and … whether effects are similar across different types of uncertainty. We investigate how global economic, financial, and trade … policy uncertainty affect the trade flows of the seven largest emerging economies (EM-7) using a panel structural vector …
Persistent link: https://www.econbiz.de/10013211264
We introduce inventories into a standard New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model to study the effect on the design of optimal monetary policy. The possibility of inventory investment changes the transmission mechanism in the model by decoupling production from final...
Persistent link: https://www.econbiz.de/10013138722
We introduce inventories into an otherwise standard New Keynesian model and study the implications for inflation dynamics. Inventory holdings are motivated as a means to generate sales for demand-constrained firms. We derive various representations of the New Keynesian Phillips curve with...
Persistent link: https://www.econbiz.de/10013115743
Various papers have identified shocks to investment as major drivers of output, investment, hours, and interest rates. These investment shocks have been linked to financial frictions because financial markets are instrumental in transforming consumption goods into installed capital. However, the...
Persistent link: https://www.econbiz.de/10013105098
This paper explores the role of demand from emerging and developed economies as drivers of the real price of oil. Using a method that allows us to identify and compare demand from different groups of countries across the world, we find that demand from emerging economies (most notably from Asian...
Persistent link: https://www.econbiz.de/10013086344