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On the Evolution of Credibility and Flexible Exchange Rate Target Zones
Avesani, Renzo; Gallo, Giampiero M; Salmon, Mark - C.E.P.R. Discussion Papers - 1995
This paper considers a new approach to the optimal management and analysis of exchange rate target zones by regarding the operation of a target zone as a dynamic signalling game between the monetary authorities and the financial markets. A Sequential Open Loop (Feedback) policy of sterilized...
Persistent link: https://www.econbiz.de/10005123996
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Do International Investment Income Flows Smooth Income?
Lane, Philip R. - C.E.P.R. Discussion Papers - 1999
We explore some empirical properties of gross international investment positions. In order to provide income-smoothing, net investment income should negatively covary with GDP. Moreover, to maximize stabilization of GNP in the face of GDP fluctuations, the yield on foreign assets should move...
Persistent link: https://www.econbiz.de/10005504758
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How to Save Globalization from its Cheerleaders
Rodrik, Dani - C.E.P.R. Discussion Papers - 2007
The new conventional wisdom on globalization emphasizes that reaping the benefits of trade and financial integration is … alike. An alternative approach to globalization would focus on enhancing policy space rather than market access, and on …
Persistent link: https://www.econbiz.de/10005666608
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Globalization and Cooperative Relations
Spagnolo, Giancarlo - C.E.P.R. Discussion Papers - 2002
Globalization – improved access to integrated, anonymous markets – is claimed to crowd out cooperative relations: from …
Persistent link: https://www.econbiz.de/10005136656
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Globalization and Democracy
Hamilton, Carl B - C.E.P.R. Discussion Papers - 2002
The Paper analyses (i) if globalization is undemocratic, (ii) if NGOs can fill a gap in representation and … democracy and globalization. A major part deals with the question of whether globalization enhances democracy. The answer is …
Persistent link: https://www.econbiz.de/10005497698
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Policies Facilitating Firm Adjustment to Globalization
Hoekman, Bernard; Javorcik, Beata - C.E.P.R. Discussion Papers - 2004
This Paper focuses on policies facilitating firm adjustment to globalization. We briefly review the effects of trade …
Persistent link: https://www.econbiz.de/10005114424
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'Globalization' and Relocation in a Vertically Differentiated Industry
Cordella, Tito; Grilo, Isabel - C.E.P.R. Discussion Papers - 1998
decisions, when the removal either of trade barriers or of restrictions on capital outflows/inflows (‘globalization’) allows … yields the relocation of the whole industry, autarchy is strictly better, in welfare terms, than ‘globalization’. It is only … when relocation is a dominant strategy for one (and only one) of the firms, that ‘globalization’ may be unambiguously …
Persistent link: https://www.econbiz.de/10005661863
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A Note on The Drivers of R&D Intensity
Mathieu, Azèle; van Pottelsberghe de la Potterie, Bruno - C.E.P.R. Discussion Papers - 2008
The objective of this paper is to evaluate the extent to which technological specialization influences the observed R&D intensity of countries. The econometric analysis performed on a cross-country cross-industry panel dataset (21 industrial sectors, 18 countries, from 2001 to 2004) suggests...
Persistent link: https://www.econbiz.de/10005792096
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Redistribution Policy: A European Model
Casella, Alessandra - C.E.P.R. Discussion Papers - 2002
Following the rationale for regional redistribution programmes described in the official documents of the European Union, this Paper studies a very simple multi-country model built around two regions: a core and a periphery. Technological spillovers link firms’ productivity in each of the two...
Persistent link: https://www.econbiz.de/10005662349
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Regional Policies and EU Enlargement
Boldrin, Michele; Canova, Fabio - C.E.P.R. Discussion Papers - 2003
Taking both the enlargement process, as currently defined by the EU, and the structural funds as a given, this Paper examines what is the best way for candidate countries to fuel real convergence. The experience from earlier EU enlargements and current economic conditions within the CEEC10...
Persistent link: https://www.econbiz.de/10005789211