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Commodity Price Effects on Currencies
Cheung, Yin-Wong; Wang, Wenhao - 2022
Using quarterly data on four commodity exporting countries, we study the explanatory power of real commodity prices for predicting real effective exchange rates, with special attention to the separate roles of different sectoral commodity prices during alternative time periods. We find that the...
Persistent link: https://www.econbiz.de/10014244327
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Money Laundering and Corruption : Birds of a Feather Flock Together
Barone, Raffaella - 2019
This paper is the first to analyse the three-way relationship among money laundering, anti-money-laundering efforts and corruption. On the one hand, if we assume that the goal of criminals involved in corruption is to minimize the probability of being detected, then corruption represents a...
Persistent link: https://www.econbiz.de/10012867872
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International Food Commodity Prices and Missing (Dis)Inflation in the Euro Area
Peersman, Gert - 2019
This paper examines the causal effects of shifts in international food commodity prices on euro area inflation dynamics using a structural VAR model that is identified with an external instrument (i.e. a series of global harvest shocks). The results reveal that exogenous food commodity price...
Persistent link: https://www.econbiz.de/10012892245
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The Interplay between Oil and Food Commodity Prices : Has it Changed Over Time?
Peersman, Gert - 2019
Using time-varying BVARs, we find that oil price increases caused by oil supply shocks did not affect food commodity prices before the start of the millennium, but had positive spillover effects in more recent periods. Likewise, shortfalls in global food commodity supply--resulting from bad...
Persistent link: https://www.econbiz.de/10012861447
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Climate Risk and Commodity Currencies
Kapfhammer, Felix; Larsen, Vegard; Thorsrud, Leif Anders - 2021
The positive relationship between real exchange rates and natural resource income is well understood and studied. However, climate change and the transition to a lower-carbon economy now challenges this relationship. We document this by proposing a novel news media-based measure of climate...
Persistent link: https://www.econbiz.de/10013314753
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Sanctioned to Death? The Impact of Economic Sanctions on Life Expectancy and its Gender Gap
Gutmann, Jerg - 2020
We empirically analyze the effect of UN and US economic sanctions on life expectancy and its gender gap in target countries. Our sample covers 98 less developed and newly industrialized countries over the period 1977–2012. We employ a matching approach to account for the endogeneity of...
Persistent link: https://www.econbiz.de/10012843428
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Property Rights to the World's (Linear) Ocean Fisheries in Customary International Law
Barrett, Scott - 2023
I model the ocean as an array of lines set within a two-dimensional frame, and show how the Exclusive Economic Zone emerged as an equilibrium in customary international law. I find that custom codifies the efficient Nash equilibrium of enclosure for nearshore fisheries. For highly migratory and...
Persistent link: https://www.econbiz.de/10014346184
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Legal Uncertainty as a Welfare Enhancing Screen
Lang, Matthias - 2016
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10011584863
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Regulation in Swiss Cantons: Data for one Century
Luechinger, Simon; Schelker, Mark - 2015
In this paper, we present and illustrate novel data on more than a century of regulation in Switzerland. We provide … reflected in the annual changes to such regulation from 1908-2013. We measure the stock of regulation by the number of … heterogeneity in the stock of regulation and the amount and development of regulatory activity. Regulatory activity generally …
Persistent link: https://www.econbiz.de/10011431201
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Optimal liability sharing and court errors: An exploratory analysis
Boyer, Marcel; Porrini, Donatella - 2010
We focus in this paper on the effects of court errors on the optimal sharing of liability between firms and financiers, as an environmental policy instrument. Using a structural model of the interactions between firms, financial institutions, governments and courts we show, through numerical...
Persistent link: https://www.econbiz.de/10010270509