Narrow search
Showing 1 - 10 of 667
Cover Image
Productivity Spillovers, Terms of Trade and the 'Home Market Effect'
Corsetti, Giancarlo; Martin, Philippe; Pesenti, Paolo - C.E.P.R. Discussion Papers - 2005
market size, or government spending. We introduce trade costs and endogenous varieties in a two-country general … and differentiation costs also have higher GDP, but supply a larger array of goods at improved terms of trade. The sign of … the international welfare spillovers depends on terms of trade, but also on consumers’ taste for variety. Higher domestic …
Persistent link: https://www.econbiz.de/10005123889
Cover Image
The Valuation Channel of International Adjustment
Ghironi, Fabio; Lee, Jaewoo; Rebucci, Alessandro - C.E.P.R. Discussion Papers - 2015
international trade in equity that encompasses complete and incomplete asset market scenarios. By separating asset prices and …
Persistent link: https://www.econbiz.de/10011266533
Cover Image
Large Capital Inflows, Sectoral Allocation and Economic Performance
Benigno, Gianluca; Converse, Nathan; Fornaro, Luca - C.E.P.R. Discussion Papers - 2015
This paper describes the stylized facts characterizing periods of exceptionally large capital inflows in a sample of 70 middle- and high-income countries over the last 35 years. We identify 155 episodes of large capital inflows and find that these events are typically accompanied by an economic...
Persistent link: https://www.econbiz.de/10011266535
Cover Image
The process by which the Dollar will fall: the effect of forward-looking consumers
Kuralbayeva, Karlygash; Vines, David - C.E.P.R. Discussion Papers - 2009
This paper extends the analysis of the forthcoming fall in the dollar by Blanchard, Giavazzi and Sà 2005), using a model which incorporates forward-looking consumers. It provides additional underpinnings for the idea of a rapid adjustment in the value of the dollar. We analyze what will happen...
Persistent link: https://www.econbiz.de/10005016248
Cover Image
Global Imbalances: In Midstream?
Blanchard, Olivier J; Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2010
Before the crisis, there were strong arguments for reducing global imbalances. As a result of the crisis, there have been significant changes in saving and investment patterns across the world and imbalances have narrowed considerably. Does this mean that imbalances are a problem of the past?...
Persistent link: https://www.econbiz.de/10008468701
Cover Image
International Capital Flows
Tille, Cédric; van Wincoop, Eric - C.E.P.R. Discussion Papers - 2008
The surge in international asset trade since the early 1990s has lead to renewed interest in models with international …
Persistent link: https://www.econbiz.de/10005123503
Cover Image
Interpreting the ERM Crisis: Country-Specific and Systemic Issues
Buiter, Willem H.; Corsetti, Giancarlo; Pesenti, Paolo - C.E.P.R. Discussion Papers - 1996
Most interpretations of the Exchange Rate Mechanism crisis of 1992/3 ignore the key role played by structural policy spillovers among European countries, and overlook the effects of coordination (or lack thereof) of monetary and exchange rate policies among the countries making up the periphery...
Persistent link: https://www.econbiz.de/10005123505
Cover Image
World Finance and the US 'New Economy': Risk Sharing and Risk Exposure
Miller, Marcus; Zhang, Lei - C.E.P.R. Discussion Papers - 2005
The promising prospect of a ‘New Economy’ in the US attracted substantial equity inflows in the late 1990s, helping to finance the country’s burgeoning current account deficit. After peaking in 2000, however, US stocks fell by some 8 trillion dollars in value. To assess the welfare effects...
Persistent link: https://www.econbiz.de/10005123520
Cover Image
International Business Cycles and the Dynamics of the Current Account
Elliott, Graham; Fatás, Antonio - C.E.P.R. Discussion Papers - 1995
shocks is proportional to trade. We find that there is a strong asymmetry in that shocks to the United States propagate …
Persistent link: https://www.econbiz.de/10005123648
Cover Image
A Portfolio Theory of International Capital Flows
Devereux, Michael B; Saito, Makoto - C.E.P.R. Discussion Papers - 2006
Recent global imbalances and large gross external financial movements have raised interest in modeling the relationship between international financial market structure and capital flows. This paper constructs a model in which the composition of national portfolios is an essential element in...
Persistent link: https://www.econbiz.de/10005123673