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Gravity Without Apology : The Science of Elasticities, Distance, and Trade
Carrère, Céline - 2020
Gravity as both fact and theory is one of the great success stories of recent research on international trade, and has … general-equilibrium system. Next, we point out some anomalies with the theory: mounting evidence against constant trade … featured prominently in the policy debate over Brexit. We first review the facts, noting the overwhelming evidence that trade …
Persistent link: https://www.econbiz.de/10012839359
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Working from Home, Wages, and Regional Inequality in the Light of COVID-19
Irlacher, Michael - 2020
We use the most recent wave of the German Qualifications and Career Survey and reveal a substantial wage premium in a …
Persistent link: https://www.econbiz.de/10012836201
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A Spatial Analysis of Inward FDI and Rural-Urban Wage Inequality : Evidence from China
Wang, Hao - 2020
investigates spatial spillover effect of inward FDI on the rural-urban wage inequality by utilizing the Spatial Durbin Model (SDM … 2000 to 2016, our results show that overall the inward FDI should not be blamed for the exacerbation of rural-urban wage … negative effect on the rural-urban wage inequality and this effect is more pronounced in the long run when we conduct a period …
Persistent link: https://www.econbiz.de/10012834877
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The (Structural) Gravity of Epidemics
Cuñat, Alejandro - 2020
Epidemiological models assume gravity-like interactions of individuals across space without microfoundations. We combine a simple epidemiological frame-work with a dynamic model of individual location choice. The model predicts that flows of people across space obey a structural gravity...
Persistent link: https://www.econbiz.de/10012833717
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Real-Time Forecasting Using Mixed-Frequency Vars with Time-Varying Parameters
Heinrich, Markus - 2020
This paper provides a detailed assessment of the real-time forecast accuracy of a wide range of vector autoregressive models (VAR) that allow for both structural change and indicators sampled at different frequencies. We extend the literature by evaluating a mixed-frequency time-varying...
Persistent link: https://www.econbiz.de/10012842676
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Fiscal Consolidation and Automatic Stabilization : New Results
Dolls, Mathias - 2020
We analyze how the combined effect of automatic stabilizers and discretionary changes in tax-benefit systems have affected the cushioning of income shocks in the Euro zone and the EU-27 in the period 2007–2014. We propose a new summary measure of the combined effect of automatic stabilizers...
Persistent link: https://www.econbiz.de/10012843440
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Missing Events in Event Studies : Identifying the Effects of Partially-Measured News Surprises
Gürkaynak, Refet S. - 2018
Macroeconomic news announcements are elaborate and multi-dimensional. We consider a framework in which jumps in asset prices around macroeconomic news and monetary policy announcements reflect both the response to observed surprises in headline numbers and latent factors, reflecting other...
Persistent link: https://www.econbiz.de/10012908673
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The Falling Elasticity of Global Trade to Economic Activity : Testing the Demand Channel
Auboin, Marc - 2018
Since the recovery from the great financial crisis in 2010, global real trade flows grew much slower than pre …) A debate has arisen as to whether this global trade slowdown, and related falling trade-to-income elasticity, was … the prominent role of aggregate demand, notably when weighted by its trade component. Our paper goes in this latter …
Persistent link: https://www.econbiz.de/10012908674
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Sales and Markup Dispersion : Theory and Empirics
Mrazova, Monika - 2019
We derive exact conditions relating the distributions of firm productivity, sales, output, and markups to the form of demand in monopolistic competition. Applications include a new “CREMR” demand function (Constant Revenue Elasticity of Marginal Revenue): it is necessary and sufficient for...
Persistent link: https://www.econbiz.de/10012892151
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The Dynamics of Finance-Growth-Inequality Nexus : Theory and Evidence for India
Das, Pranab Kumar - 2019
The purpose of this research study has been to expand our understanding of the finance-growth ‘nexus’ to finance-growth-inequality ‘nexus’ in the presence of both the formal and the informal sources of borrowing. Using empirical evidence of IHDS Survey data for two rounds the study...
Persistent link: https://www.econbiz.de/10012892155