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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 …%- 30% of inflation volatility. In addition, large autonomous swings in international food prices contributed significantly … to the twin puzzle of missing disinflation and missing inflation in the era after the Great Recession. Specifically …
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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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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Culture, Institutions & the Long Divergence
Bisin, Alberto; Rubin, Jared; Seror, Avner; Verdier, Thierry - 2021
Recent theories of the Long Divergence between Middle Eastern and Western European economies focus on Middle Eastern (over-)reliance on religious legitimacy, use of slave soldiers, and persistence of restrictive proscriptions of religious (Islamic) law. These theories take as exogenous the...
Persistent link: https://www.econbiz.de/10013245626
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Satisfaction with Amenities and Taste for Revolt in the Middle East
Gholipour, Hassan F.; Farzanegan, Mohammad Reza - 2023
The purpose of this study is to explore the relationship between individuals’ satisfaction with amenities and environmental quality and taste for revolt in the Middle East. Using recent World Value Survey data (WVS7, 2017-2021) from Egypt and Iraq (which have been experiencing severe...
Persistent link: https://www.econbiz.de/10014347827
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The Unfinished Business of State-Owned Enterprise Reform in the People's Republic of China
Holz, Carsten A. - 2019
This paper examines the progress of state-owned enterprise (SOE) reform in the People’s Republic of China. After defining SOEs and considering their scope of operation within the PRC economy, the focus of the paper is on the major reform waves that followed the deterioration of SOE...
Persistent link: https://www.econbiz.de/10012867873
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The Economics of Politically Connected Firms
Choi, Jay Pil; Thum, Marcel P. - 2021
Political connections between firms and autocratic regimes are not secret and often even publicly displayed in many developing economies. We argue that tying a firm's available rent to a regime's survival acts as a credible commitment forcing entrepreneurs to support the government and to exert...
Persistent link: https://www.econbiz.de/10013317003
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Mavericks, Universal, and Common Owners - the Largest Shareholders of U.S. Public Firms
Amel-Zadeh, Amir; Kasperk, Fiona; Schmalz, Martin - 2022
We construct a novel data set to show that, between 2003-2020, up to one-fifth of America’s largest firms had a non-financial blockholder or insider as their largest shareholder. Blockholders and insiders tend to be less diversified than institutional investors. Measures of “universal” and...
Persistent link: https://www.econbiz.de/10014077008
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Efficient management of insecure fossil fuel Imports through taxing (!) domestic green energy?
Eichner, Thomas; Pethig, Rüdiger - 2010
A small open economy produces a consumer good, green and black energy, and imports fossil fuel at an uncertain price. Unregulated competitive markets are shown to be inefficient. The implied market failures are due to the agents' attitudes toward risk, to risk shifting and the uniform price for...
Persistent link: https://www.econbiz.de/10010270482