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Does Household Borrowing Reduce the Trade Balance? Evidence from Developing and Developed Countries
Xu, Can; Jacobs, Jan; de Haan, Jakob - 2021
We examine the dynamic impact of household borrowing on the trade balance using data from 33 developing countries and 36 developed countries over the 1980-2017 period. Our findings suggest that the impact of household borrowing on the trade balance is by and large negative, both in the short and...
Persistent link: https://www.econbiz.de/10013224078
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Europe agreements and trade balance: Evidence from four new EU members
Caporale, Guglielmo Maria; Rault, Christophe; Sova, Robert - 2011
Estimation Pooled - Hausman-Taylor (CCEPHT, Serlenga and Shin, 2007) are applied to analyse the effects of the agreement variable …. Our estimation results indicate a positive and significant impact of EA on trade flows. However, there is an asymmetric …
Persistent link: https://www.econbiz.de/10010274730
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From Theory to Policy with Gravitas : A Solution to the Mystery of the Excess Trade Balances
Felbermayr, Gabriel J. - 2019
Bilateral trade balances often play an important role in the international trade policy debate. Academic economists understand that they are misleading indicators of competitiveness and of the gains from trade. However, they also recognize their political relevance, calling for accurate...
Persistent link: https://www.econbiz.de/10012861446
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Bilateral Trade Imbalances
Cuñat, Alejandro - 2019
Bilateral trade imbalances are determined by aggregate trade imbalances, production and expenditure patterns, and trade barriers. We calibrate a dynamic many-sector trade model to match the recent sectoral trade and production shares of 40 economies and the rest of the world. Through a variance...
Persistent link: https://www.econbiz.de/10012861448
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The euro exchange rate and Germany's trade surplus
Hohberger, Stefan; Ratto, Marco; Vogel, Lukas - 2019
We estimate a three-region (DE-REA-RoW) structural macroeconomic model, and we provide a counterfactual on how nominal exchange rate flexibility would have affected the German trade balance (TB) by simulating the shocks of the estimated model under a counterfactual flexible exchange rate regime....
Persistent link: https://www.econbiz.de/10012018234
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Trade costs, trade balances and current accounts : an application of gravity to multilateral trade
Fazio, Giorgio; MacDonald, Ronald; Melitz, Jacques - 2005
In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to explaining the so-called Feldstein-Horioka puzzle. Using a gravity framework in an intertemporal context, we provide strong support for the hypothesis and we reconcile our results with...
Persistent link: https://www.econbiz.de/10010261322
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The Trade Effects of Anti-Dumping Duties : Firm-Level Evidence from China
Felbermayr, Gabriel J. - 2018
This paper uses Chinese customs data to investigate the trade effects of anti-dumping (AD) policies. Merging firm-level exports to firm-specific AD duties, we exploit differences across firms within products. This reduces endogeneity concerns which have plagued earlier research. Based on a...
Persistent link: https://www.econbiz.de/10012908716
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The US-China Phase One Trade Deal : An Economic Analysis of the Managed Trade Agreement
Funke, Michael; Wende, Adrian - 2021
In light of the recent tit-for-tat trade dispute between China and the US, interest in quantifying the effects of the … for China and the US, trade diversion effects are also analyzed. The model-based analysis finds noticeable positive … (negative) impacts of the agreement for the US (China) as well as negative spillover effects for countries not directly affected …
Persistent link: https://www.econbiz.de/10013239330
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A Jackknife Model Averaging Analysis of RMB Misalignment Estimates
Cheung, Yin-Wong - 2019
We adopt the Jackknife Model Averaging (JMA) technique to conduct a meta-regression analysis of 925 renminbi (RMB) misalignment estimates generated by 69 studies. The JMA method accounts for model selection and sampling uncertainties, and allows for non-nested model specifications and...
Persistent link: https://www.econbiz.de/10012861432
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A Role Model for China? Exchange Rate Flexibility and Monetary Policy in Japan
Schnabl, Gunther; Danne, Christian - 2021
provides an important role model for China, this paper studies the role of the yen/dollar exchange rate for Japanese monetary …
Persistent link: https://www.econbiz.de/10013316946