Showing 1 - 10 of 173
We apply a "new" conventional (CAPB-based) measure of fiscal policy, which is less prone to endogeneity issues, and find that a 1-percent of GDP fiscal consolidation leads to the improvement of the current account-to-GDP ratio by approximately 0.8 percent of GDP, while previous research based on...
Persistent link: https://www.econbiz.de/10012841935
exchange rate flexibility would have affected the German trade balance (TB) by simulating the shocks of the estimated model …. Results suggest an around 2 pp lower trade surplus during 2012-15 together with a stronger real effective exchange rate in the …
Persistent link: https://www.econbiz.de/10012890627
ten years, it has grown to a cumulated 1 Trillion USD. In times of severe trade policy disagreements across the Atlantic … billion USD. In the former case, national statistics on net services trade disagree by as much as 55 billion USD; in the …
Persistent link: https://www.econbiz.de/10012861474
The paper analyses the role of fiscal and monetary policy for the development of the current account imbalances in the euro area, including the most recent developments during the coronavirus crisis. Several financial transmission channels such as international bank lending, changes in TARGET2...
Persistent link: https://www.econbiz.de/10013221180
The paper examines episodes of current account adjustment in individual economies. A central finding is that these episodes are very divergent and can be usefully classified, on the basis of cluster analysis, in three groups. A majority of cases is characterised by internal adjustment,...
Persistent link: https://www.econbiz.de/10013317000
Using two measures of the fiscal position, the cyclically adjusted primary budget balance (CAPB) and the total budget balance, we assess the Twin Deficit Hypothesis for the Euro Area in the period 1995-2020. Furthermore, we estimate time-varying coefficients of the current account balance...
Persistent link: https://www.econbiz.de/10013306033
It is widely believed that globalization affects the extent of employment and wage responses to economic shocks. To provide evidence for this, we analyze the effect of firms' exporting behavior on the elasticity of labor demand. Using rich, German administrative linked employer-employee panel...
Persistent link: https://www.econbiz.de/10010333393
interest is the difference in matched partner trade statistics, i.e., the extent to which the recorded export value in the …This paper explores official trade data to identify patterns of smuggling in international trade. Our main measure of … with the level of corruption in both partner countries. This finding supports the hypothesis that trade gaps partly …
Persistent link: https://www.econbiz.de/10010264499
of partial US sanctions decreases trade by 16 percent. When complete export and import sanctions are implemented, US …, respectively. In contrast, the application of partial export and import sanctions leads to a decrease in trade by 13 percent and 17 …We investigate the effects of US-imposed trade sanctions on the global trade patterns of sanctioned countries by …
Persistent link: https://www.econbiz.de/10014534279
Trade and growth theories predict a mutual causation of innovation and exports. We test empirically whether innovation … exogenous to firms' export performance. We find that innovation attributable to this variation leads to an increase of roughly 7 … percentage points in the export share of German manufacturing firms. The evidence is robust to several alternative specifications …
Persistent link: https://www.econbiz.de/10010315850