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Business Cycle Narratives
Larsen, Vegard - 2019
Research about narratives’ role in economics is scarce, while real word experience and research in other sciences suggest they matter a lot. This article proposes a view and methodology for quantifying the epidemiology of media narratives relevant to business cycles in the US, Japan, and...
Persistent link: https://www.econbiz.de/10012892114
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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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Oil Price Fluctuations and Exchange Rate Dynamics in the MENA Region : Evidence from Non-Causality-in-Variance and Asymmetric Non-Causality Tests
Nouira, Ridha - 2018
The aim of this paper is to investigate the exchange rate consequences of oil-price fluctuations and to test for the dynamics of oil price volatility by examining interactions between oil market and exchange rate in selected MENA countries (Egypt, Jordan, Morocco, Qatar, Saudi Arabia, Tunisia,...
Persistent link: https://www.econbiz.de/10012908723
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How Economic, Political and Institutional Factors Influence the Choice of Exchange Rate Regimes? New Evidence from Selected Countries of the MENA Region
Maraoui, Nejia; Amor, Thouraya Hadj; Khefacha, Islem; … - 2022
In this paper, we investigate how economic, political and institutional factors affect the choice of exchange rate regimes, using data on eight MENA (Middle East and North Africa) countries over the 1984-2016 period. Specifically, we run random-effects ordered probit regressions of the...
Persistent link: https://www.econbiz.de/10013291704
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A Unified Model of International Business Cycles and Trade
Bhattarai, Saroj - 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/10012840220
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On Optimal Currency Areas and Common Cycles : Are the Acceding Countries Ready to Join the Euro?
Grimm, Louisa; Steinkamp, Sven; Westermann, Frank - 2021
The former EU president Jean-Claude Junker has proposed that all countries of the European Union should also adopt the euro as their currency and recent research has shown that countries currently pursuing this goal indeed fulfill the classical Optimal Currency Area (OCA) criterion of positively...
Persistent link: https://www.econbiz.de/10013232406
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Price Change Synchronization within and between Firms
Nilsen, Øivind Anti; Skuterud, Håvard; Munthe-Kaas … - 2021
This paper provides evidence on price rigidity at the product- and firm-level in Norway. A strong within-firm synchronization is found supporting the theory of economies of scope in menu costs. The industry synchronization effects are found to be small suggesting that firms either have some...
Persistent link: https://www.econbiz.de/10013213783
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Labour Market Rigidities, Financial Integration and International Risk Sharing in the OECD
Fidrmuc, Jarko; Foster-McGregor, Neil; Scharler, Johann - 2021
Economic theory predicts that consumption growth rates should be highly correlated across countries. Empirical evidence overwhelmingly rejects this prediction. We examine whether increased financial integration and labour market rigidities can help explain this apparent contradiction between...
Persistent link: https://www.econbiz.de/10013317001
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When Arm's Length Is Too Far. Relationship Banking over the Business Cycle
Beck, Thorsten; Degryse, Hans; de Haas, Ralph; van … - 2014
Using a novel way to identify relationship and transaction banks, we study how banks' lending techniques affect funding to SMEs over the business cycle. For 21 countries we link the lending techniques that banks use in the direct vicinity of firms to these firms' credit constraints at two...
Persistent link: https://www.econbiz.de/10010398626