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Exchange Rate Elasticities of International Tourism and the Role of Dominant Currency Pricing
Ding, Ding; Timmer, Yannick - 2022
represents a strong piece of evidence of dominant currency pricing (DCP) in the international trade of services and suggests that …
Persistent link: https://www.econbiz.de/10013266708
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How to Escape from the Debt Trap: Lessons from the Past
Mayer, Thomas; Schnabl, Gunther - 2021
Rising public debt everywhere has raised the question of how to reduce debt again in the future. High public debt also seems to be an impediment for the exit of central banks from ultra-low interest rates and quantitative easing. Historical precedents and proposals have included austerity,...
Persistent link: https://www.econbiz.de/10012582141
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Democracy and development : the devil in the details
Persson, Torsten; Tabellini, Guido - 2006
Does democracy promote economic development? This paper reviews recent attempts to address this question that exploited within-country variation. It shows that the answer is largely positive, but also depends on the details of democratic reforms. First, the sequence of economic vs political...
Persistent link: https://www.econbiz.de/10010261420
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Purchasing power parity for developing and developed countries: what can we learn from non-stationary panel data models?
Drine, Imed; Rault, Christophe - 2008
The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 developed and developing countries. We find that strong...
Persistent link: https://www.econbiz.de/10010264327
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Transfers, non-traded goods, and unemployment : an analysis of the Keynes-Ohlin debate
Brakman, Steven; van Marrewijk, Charles - 2005
transfer does not affect the donor's terms-of-trade either favourably or unfavourably was also justified. Moreover, Ohlin was …
Persistent link: https://www.econbiz.de/10010275773
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On the linkages between stock prices and exchange rates: Evidence from the banking crisis of 2007-2010
Caporale, Guglielmo Maria; Hunter, John; Ali, Faek Menla - 2013
This study examines the nature of the linkages between stock market prices and exchange rates in six advanced economies, namely the US, the UK, Canada, Japan, the euro area, and Switzerland, using data on the banking crisis between 2007 and 2010. Bivariate GARCH-BEKK models are estimated...
Persistent link: https://www.econbiz.de/10010292798
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International Portfolio Flows and Exchange Rate Volatility for Emerging Markets
Caporale, Guglielmo Maria; Ali, Faek Menla; Spagnolo, Fabio - 2015
This paper investigates the effects of equity and bond portfolio in.ows on exchange rate volatility, using monthly bilateral data for the US vis-a-vis eight Asian developing and emerging countries (India, Indonesia, South Korea, Pakistan, Hong Kong, Thailand, the Philippines, and Taiwan) over...
Persistent link: https://www.econbiz.de/10011388287
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Uncertainty and Hyperinflation: European Inflation Dynamics after World War I
Lopez, Jose A.; Mitchener, Kris James - 2018
Fiscal deficits, elevated debt-to-GDP ratios, and high inflation rates suggest hyperinflation could have potentially emerged in many European countries after World War I. We demonstrate that economic policy uncertainty was instrumental in pushing a subset of European countries into...
Persistent link: https://www.econbiz.de/10011872123
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Trade and Currency Weapons
Benassy-Quere, Agnes; Bussière, Matthieu; Wibaux, Pauline - 2018
The debate on trade wars and currency wars has re-emerged since the Great recession of 2009. We study the two forms of … non-cooperative policies within a single framework. First, we compare the elasticity of trade flows to import tariffs and …. We find that, in this setting, monetary policy is more stabilizing for the economy than trade policy, except when the …
Persistent link: https://www.econbiz.de/10011887372
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The Relative Effectiveness of Spot and Derivatives Based Intervention
Nedeljkovic, Milan; Saborowski, Christian - 2018
This paper studies the relative effectiveness of foreign exchange intervention in spot and derivatives markets. We make use of Brazilian data where spot and non-deliverable futures based intervention have been used in tandem for more than a decade. The analysis finds evidence in favor of a...
Persistent link: https://www.econbiz.de/10011887387