Narrow search
Showing 1 - 10 of 2,484
Cover Image
Demographic Structure and Macroeconomic Trends
Aksoy, Yunus; Basso, Henrique S.; Smith, Ron; Grasl, Tobias - 2021
The effect of changes in demographic structure on medium-run trends of key macroeconomic variables is estimated using a Panel VAR of 21 OECD economies. The panel data variability assists the identification of direct effects of demographics, while the dynamic structure uncovers long-term effects....
Persistent link: https://www.econbiz.de/10013315503
Cover Image
Structural Change in OECD Comparative Advantage
Brakman, Steven - 2010
In the post-war period, the goods composition of trade in OECD countries has changed considerably. We analyze the evolution of comparative advantage using a detailed trade data set and a new analytical tool: the harmonic (weighted) mass index, which enables us to identify periods of structural...
Persistent link: https://www.econbiz.de/10013143974
Cover Image
Fiscal Shocks and Real Exchange Rate Dynamics : Some Evidence for Latin America
Caporale, Guglielmo Maria; Ciferri, Davide; Girardi, … - 2021
This paper analyses the effects of fiscal shocks using a two-country macroeconomic model for output, labour input, government spending and relative prices which provides the orthogonality restrictions for obtaining the structural shocks. Dynamic simulation techniques are then applied, in...
Persistent link: https://www.econbiz.de/10013316574
Cover Image
Dissecting the PPP Puzzle : The Unconventional Roles of Nominal Exchange Rate and Price Adjustments
Cheung, Yin-Wong; Lai, Kon-sun; Bergman, Michael U. - 2021
The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...
Persistent link: https://www.econbiz.de/10013319983
Cover Image
The Real Exchange Rate in the Long Run : Balassa-Samuelson Effects Reconsidered
Bordo, Michael D. - 2014
Historical data for over hundred years and 14 countries is used to estimate the long-run effect of productivity on the … real exchange rate. We find large variations in the productivity effect across four distinct monetary regimes in the sample … argue that changes in trade costs over time may affect the impact of productivity on the real exchange rate over time. We …
Persistent link: https://www.econbiz.de/10013050476
Cover Image
Trade Openness, Market Competition, and Inflation : Some Sectoral Evidence from OECD Countries
Binici, Mahir - 2013
countries. In theory, trade openness can affect inflation through changes in market competitiveness and productivity …. Nonetheless, previous empirical studies often fail to account for productivity effects, and their results may overstate the role … controlling for productivity effects. Indeed, when market competition and productivity effects are both accounted for, trade …
Persistent link: https://www.econbiz.de/10013091833
Cover Image
Firm Response to Competitive Shocks : Evidence from China's Minimum Wage Policy
Hau, Harald - 2017
factor productivity growth–particularly among the less productive firms under private Chinese or foreign ownership, but not …
Persistent link: https://www.econbiz.de/10012947448
Cover Image
Slow to Hire, Quick to Fire : Employment Dynamics with Asymmetric Responses to News
Ilut, Cosmin L. - 2017
Concave hiring rules imply that firms respond more to bad shocks than to good shocks. They provide a unified explanation for several seemingly unrelated facts about employment growth in macro and micro data. In particular, they generate countercyclical movement in both aggregate conditional...
Persistent link: https://www.econbiz.de/10012956881
Cover Image
Pairwise Tests of Purchasing Power Parity Using Aggregate and Disaggregate Price Measures
Pesaran, M. Hashem - 2013
In this paper we adopt a new approach to testing for purchasing power parity, PPP, that is robust to base country effects, cross-section dependence, and aggregation. Given data on N + 1 countries, i, j = 0, 1, 2, ..., N, the standard procedure is to apply unit root or stationarity tests to N...
Persistent link: https://www.econbiz.de/10012754327
Cover Image
Nominal Exchange Rate Flexibility and Real Exchange Rate Adjustment : Evidence from Dual Exchange Rates in Developing Countries
Cheung, Yin-Wong; Lai, Kon-sun - 2021
This study investigates whether greater nominal exchange rate flexibility aids real exchange rate adjustment based on data from dual exchange rates in developing countries. Specifically, we analyze whether the more flexible parallel market rate produces faster real exchange rate adjustment than...
Persistent link: https://www.econbiz.de/10013318352