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What Drives Aggregate Investment? : Evidence from German Survey Data

Bachmann, Ruediger; Zorn, Peter - 2021

The ifo Investment Survey asks firms in the German manufacturing sector about the importance of sales, technological factors, finance, return expectations, and macroeconomic policy for their investment activity in a given year. We show that these subjective investment determinants 1) capture...

Persistent link: https://www.econbiz.de/10013315790

The Tempest : Natural Disasters, Early Shocks and Children's Short- and Long-Run Development

Deuchert, Eva - 2013

Economic theory predicts that adverse shocks during early childhood have detrimental short- and long-run consequences for children's development. We examine this hypothesis by analyzing the short-and long-run effects on children's health and education of a specific shock: housing damages caused...

Persistent link: https://www.econbiz.de/10013083878

Commodity Windfalls, Polarization, and Net Foreign Assets : Panel Data Evidence on the Voracity Effect

Arezki, Rabah - 2013

This paper examines the effects that windfalls from international commodity price booms have on net foreign assets in a panel of 145 countries during the period 1970-2007. The main finding is that windfalls from international commodity price booms lead to a significant increase in net foreign...

Persistent link: https://www.econbiz.de/10013092044

What Drives Corporate Tax Rates Down? A Reassessment of Globalization, Tax Competition, and Dynamic Adjustment to Shocks

Overesch, Michael - 2009

We reassess the driving forces behind the recent decline of corporate tax rates in Europe. Using data for up to 32 countries from 1983 to 2006, we analyze the role of economic and financial openness as well as tax competition while allowing for dynamic adjustment to shocks and period-specific as...

Persistent link: https://www.econbiz.de/10012765039

Absorbing Shocks : National Rainy-Day Funds and Cross-Country Transfers in a Fiscal Union

Goodspeed, Timothy - 2016

In this paper we investigate the interplay between national rainy-day funds and supra-national transfers in a fiscal union. Given that the EU has established rules limiting deficits, national rainy-day funds could in theory provide a way for countries to obey the rules and use fiscal policy, yet...

Persistent link: https://www.econbiz.de/10012979109

Foreign Currency Denominated Assets and International Shock Absorption in Switzerland and Japan

Schnabl, Gunther - 2015

Currencies of countries with persistent current account surpluses and high foreign currency denominated assets such as the Swiss franc and Japanese yen are under a persistent appreciation pressure, what restricts the degree of freedom in the choice of exchange rate regime. Official announcements...

Persistent link: https://www.econbiz.de/10013009766

Country-Specific Oil Supply Shocks and the Global Economy : A Counterfactual Analysis

Mohaddes, Kamiar - 2015

This paper investigates the global macroeconomic consequences of country-specific oil-supply shocks. Our contribution is both theoretical and empirical. On the theoretical side, we develop a model for the global oil market and integrate this within a compact quarterly model of the global economy...

Persistent link: https://www.econbiz.de/10013021694

US Monetary Policy in a Globalized World

Cuaresma, Jesús Crespo - 2016

We analyze the interaction between monetary policy in the US and the global economy, using a global vector autoregressive model with time-varying parameters and stochastic volatility (TVP-SV-GVAR). We find that a contractionary US monetary policy shock leads to a persistent fall in international...

Persistent link: https://www.econbiz.de/10012994181

World Price Shocks, Income, and Democratization

Zissimos, Ben - 2021

This paper shows how a world price shock can increase the likelihood that democratization must be used to resolve the … threat of revolution. Initially, a ruling elite may be able to use trade policy to maintain political stability. But a world … resolve. Because the world price shock may also reduce average incomes, the model provides a way to understand why the level …

Persistent link: https://www.econbiz.de/10013315548

Banking Crises and Crisis Dating : Theory and Evidence

Boyd, John H.; De Nicolo, Gianni; Loukoianova, Elena - 2021

We formulate a simple theoretical model of a banking industry that we use to identify and construct theory-based measures of systemic bank shocks (SBS). These measures differ from “banking crisis” (BC) indicators employed in many empirical studies, which are constructed using primarily...

Persistent link: https://www.econbiz.de/10013316186