Narrow search
Showing 1 - 10 of 651
Cover Image
Exchange-Rate Adjustment and Macroeconomic Interdependence between Stagnant and Fully Employed Countries
Ono, Yoshiyasu - 2014
This paper presents a two-country two-commodity dynamic model with free international asset trade in which one country achieves full employment and the other suffers long-run unemployment. Own and spill-over effects of changes in policy, technological and preference parameters that emerge...
Persistent link: https://www.econbiz.de/10010333441
Cover Image
The Impact of Financial (De-)Regulation on Current Account Balances
Moral-Benito, Enrique; Röhn, Oliver - 2014
Both global imbalances and financial market (de-)regulation feature prominently among the potential causes of the global financial crisis, but they have been largely discussed separately. In this paper, we take a different angle and investigate the relationship between financial market...
Persistent link: https://www.econbiz.de/10010435737
Cover Image
Twin Deficits Through the Looking Glass : Time-Varying Analysis in the Euro Area
Afonso, António; Coelho, José Carlos - 2022
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
Cover Image
The Modality of Fiscal Consolidation and Current Account Adjustment
Adam, Antonis; Moutos, Thomas - 2015
In this paper we argue that supply-side adjustments (i.e. the reallocation of productive resources between the traded and non-traded sectors) can be an important determinant of the output costs of current account adjustment. The argument relies on the fact that tax evasion is more prevalent in...
Persistent link: https://www.econbiz.de/10011307123
Cover Image
The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered
Bordo, Michael D.; Choudhri, Ehsan U.; Fazio, Giorgio; … - 2014
Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …
Persistent link: https://www.econbiz.de/10010398573
Cover Image
Terms of trade, catch-up, and home market effect: the example of Japan
Urban, Dieter M. - 2007
interdependencies between the terms of trade and economic growth are offered: the home market effect and the productivity shock effect …
Persistent link: https://www.econbiz.de/10010264264
Cover Image
A Unified Model of International Business Cycles and Trade
Bhattarai, Saroj; Kucheryavyy, Konstantin - 2020
We present a unified dynamic framework to study the interconnections between international trade and business cycle models. We prove an aggregate equivalence between a competitive, representative firm model that has aggregate production externalities and dynamic trade models that feature...
Persistent link: https://www.econbiz.de/10012207895
Cover Image
Twin Deficits through the Looking Glass: Time-Varying Analysis in the Euro Area
Afonso, António; Coelho, José Carlos - 2022
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/10013177593
Cover Image
Aggregate Properties of Open Economy Models with Expanding Varieties
Bhattarai, Saroj; Kucheryavyy, Konstantin - 2022
We present a unified dynamic framework to study the interconnections between international trade and business cycle models. We prove an aggregate equivalence between a competitive, representative firm model that has aggregate production externalities and dynamic trade models that feature...
Persistent link: https://www.econbiz.de/10013353482
Cover Image
The Dominant Currency Financing Channel of External Adjustment
Casas, Camila; Meleshchuk, Sergii; Timmer, Yannick - 2023
We propose a new channel through which exchange rates affect trade. Exploiting the heterogeneity in firms' foreign currency debt maturity structure around a large depreciation in Colombia, we show that debt revaluation compresses imports due to higher delinquencies and interest rates, while...
Persistent link: https://www.econbiz.de/10014377488