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Can Time-Varying Currency Risk Hedging Explain Exchange Rates?
Bräuer, Leonie; Hau, Harald - 2022
positions in foreign currencies. In periods of increased economic uncertainty, institutional investors hedge their international … bond positions, which creates a net hedging demand for dollar assets that depreciates USD rates in both the forward and … spot markets. We document the time-varying nature of this net hedging demand and show how it relates to eco …
Persistent link: https://www.econbiz.de/10014242128
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Structural Change in Production Networks and Economic Growth
Gaggl, Paul; Gorry, Aspen; vom Lehn, Christian - 2023
This paper studies structural change in production networks for intermediate inputs (input-output network) and new capital (investment network). For each network, we document a declining fraction of production by goods sectors and a rising fraction of production by services sectors. We develop a...
Persistent link: https://www.econbiz.de/10014348090
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The Network Origins of the Gains from Trade
Bosker, Erik Maarten - 2019
In this paper, we develop a network perspective on the welfare gains from trade in today’s internationally fragmented supply chains. Towards this end, we study a Ricardian trade model featuring trade in final and intermediate products, and introduce a novel comparative statics approach to...
Persistent link: https://www.econbiz.de/10012890197
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A Simple Model of Buyer-Seller Networks in International Trade
Herkenhoff, Philipp; Krautheim, Sebastian; Sauré, Philip U. - 2021
The recent literature on firm-to-firm trade has documented salient empirical regularities of the buyer-seller network. We propose a simplistic re-interpretation of the classical Krugman (1980) model that accounts for surprisingly many of the empirical regularities. This re-interpretation relies...
Persistent link: https://www.econbiz.de/10013224077
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Trade Openness and Growth : A Network-Based Approach
Duernecker, Georg; Meyer, Moritz; Vega-Redondo, Fernando - 2021
In this paper, we propose a novel approach to the study of international trade that leads to a measure of country openness that is quite different from the various alternatives proposed by the received literature. In contrast to these, our measure does not use indicators of aggregate trade...
Persistent link: https://www.econbiz.de/10013211116
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Product Differentiation and Oligopoly : A Network Approach
Pellegrino, Bruno - 2023
This paper develops a theory of oligopoly and markups in general equilibrium. Firms compete in a network of product …
Persistent link: https://www.econbiz.de/10014262031
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Financial Constraints and Propagation of Shocks in Production Networks
Pakel, Banu Demir; Javorcik, Beata Smarzynska; … - 2021
empirical tests, motivated by a simple theory, demonstrate that low-liquidity firms amplified its transmission …
Persistent link: https://www.econbiz.de/10013315210
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Hedging Climate Change News
Engle, Robert F. - 2019
exposures. We show that this approach yields parsimonious and industry-balanced portfolios that perform well in hedging …
Persistent link: https://www.econbiz.de/10012866389
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Delayed action and uncertain targets: how much will climate policy cost?
Bosetti, Valentina; Carraro, Carlo; Sgobbi, Alessandra - 2008
this uncertainty cost? Is there a hedging strategy that decision makers can adopt to cope with delayed action and uncertain …. What additional economic cost of mitigation measures will this delay imply? At the same time, the uncertainty surrounding … computing the optimal abatement strategy in the presence of uncertainty about a global stabilisation target (which will be …
Persistent link: https://www.econbiz.de/10010264441
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Smart Hedging against Carbon Leakage
Böhringer, Christoph - 2019
hence be regarded as smart hedging against carbon leakage …
Persistent link: https://www.econbiz.de/10012859992