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Multinational Production and Global Shock Propagation During the Great Recession
Li, Haishi - 2023
Did multinational production (MP) exacerbate or mitigate the collapse of international trade during the Great Recession? What role did MP and trade links play in propagating economic shocks across countries? I resolve the “Multinationals’ Resilience Puzzle” during the Great Recession by...
Persistent link: https://www.econbiz.de/10014358332
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Financial integration, globalization, and real activity
De Nicolò, Gianni; Juvenal, Luciana - 2012
distinct impact of financial integration and globalization on several dimensions of real activity. We find that: (a) financial … financial integration predict better growth prospects; (c) both advances in financial integration and globalization are … financial integration and globalization indeed foster countries' growth, and there appears to be no trade-off between these …
Persistent link: https://www.econbiz.de/10010280851
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Sectoral Okun's Law and Cross-Country Cyclical Differences
Goto, Eiji - 2020
We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the US, the UK, Japan, and Switzerland to test several hypotheses that may explain why the aggregate Okun's coeffcients are different across countries. Specifically, we show that...
Persistent link: https://www.econbiz.de/10012841145
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Great Volatility and Great Moderation
Grazzini, Jakob - 2019
We investigate the sources of the great changes in GDP volatility observed from 1966 to 2000. We develop a general equilibrium model and calibrate it to US data in order to characterize the contribution of micro level productivity shocks, inter-sectoral linkages and households' behavior to...
Persistent link: https://www.econbiz.de/10012892302
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The Supply of Hours Worked and Fluctuations Between Growth Regimes
Iong, Ka-Kit; Irmen, Andreas - 2021
Declining hours of work per worker in conjunction with a growing work force may give rise to fluctuations between growth regimes. This is shown in an overlapping generations model with two-period lived individuals endowed with Boppart-Krusell preferences (Boppart and Krusell (2020)). On the...
Persistent link: https://www.econbiz.de/10013233150
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Health and Economic Growth : Reconciling the Micro and Macro Evidence
Bloom, David E.; Kotschy, Rainer; Prettner, Klaus; … - 2022
Economists use micro-based and macro-based approaches to assess the macroeconomic return to population health. The macro-based approach tends to yield estimates that are either negative and close to zero or positive and an order of magnitude larger than the range of estimates derived from the...
Persistent link: https://www.econbiz.de/10014081589
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Economic Globalisation and Africa's Quest for Greener and More Inclusive Growth : The Missing Link
Ofori, Isaac K; Freytag, Andreas; Asongu, Simplice A. - 2023
This study examines the contingency and threshold effects of economic freedom in the economic globalisation (EG) and inclusive green growth (IGG) relationship in Africa. Based on macro data for 22 African countries and the Driscoll-Kraay standard errors with fixed effects instrumental variable...
Persistent link: https://www.econbiz.de/10014347989
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Protectionism and Economic Growth : Causal Evidence from the First Era of Globalization
Potrafke, Niklas; Ruthardt, Fabian; Wuthrich, Kaspar - 2021
We investigate how protectionist policies influence short-run economic growth. Our empirical strategy exploits an extraordinary tax scandal that gave rise to an unexpected change of government in Sweden. A free-trade majority in parliament was overturned by a protectionist majority in 1887. The...
Persistent link: https://www.econbiz.de/10013227482
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Cyclical fiscal policy, output volatility, and economic growth
Badinger, Harald - 2008
This paper provides a comprehensive empirical assessment of the relation between the cyclicality of fiscal policy, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004. Identification of the effects of (endogenous) cyclical fiscal...
Persistent link: https://www.econbiz.de/10010264336
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Does financial integration spur economic growth? : New evidence from the first era of financial globalization
Schularick, Moritz; Steger, Thomas M. - 2006
Does international financial integration boost economic growth? The question has been discussed controversially for a long time. As of yet, robust evidence for a positive impact is lacking (Edison et al., 2002). However, there is substantial narrative evidence from economic history that...
Persistent link: https://www.econbiz.de/10010276748