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Modeling Fluctuations in the Global Demand for Commodities
Kilian, Lutz - 2018
It is widely understood that the real price of globally traded commodities is determined by the forces of demand and supply. One of the main determinants of the real price of commodities is shifts in the demand for commodities associated with unexpected fluctuations in global real economic...
Persistent link: https://www.econbiz.de/10012930077
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Price and Death
Itaya, Jun-ichi; Ursprung, Heinrich W. - 2021
How does an artist's death impact on the price of his or her works of art? We investigate this question in an infinite-horizon dynamic general equilibrium setting. Employing the open-loop Stackelberg equilibrium concept to describe the interactive behaviour of collectors and artists, we find...
Persistent link: https://www.econbiz.de/10013316587
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An Economic Theory of Foreign Interventions and Regime Change
Bonfatti, Roberto - 2011
I construct a theory of foreign interventions in which the preferences of the foreign country over alternative local …
Persistent link: https://www.econbiz.de/10013124181
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Optimal Education Policies and Comparative Advantage
Bougheas, Spiros - 2009
We consider the optimal education policies of a small economy whose government has a limited budget. Initially, the economy is closed and the government chooses its education policy to maximize welfare under autarky. Then the economy trades with the rest of the world. Lastly, the government...
Persistent link: https://www.econbiz.de/10013160221
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Macroeconomic Effects of Disruptions in Global Food Commodity Markets : Evidence for the United States
De Winne, Jasmien - 2016
raises food commodity prices, and leads to a rise in food, energy and core inflation, and to a persistent fall in real GDP …
Persistent link: https://www.econbiz.de/10012977153
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Price Effects on Compound Commodities
Minagawa, Junichi - 2016
We explore effects of simultaneous price changes for the demand of a group of goods, which we refer to as a compound commodity. Specifically, we consider unit and proportional cost components (e. g., taxes, transportation costs, etc.) imposed on the compound commodity. We find that there is a...
Persistent link: https://www.econbiz.de/10012981296
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The Penn Effect within a Country - Evidence from Japan
Cheung, Yin-Wong - 2014
To control for product quality and exchange rate effects, we use the Japanese regional data to study the Penn effect – the positive relationship between price and income levels. Comparable with the evidence from international data, the Penn effect is significant in the Japanese prefectural...
Persistent link: https://www.econbiz.de/10013065291
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No Price Like Home : Global House Prices, 1870-2012
Knoll, Katharina; Schularick, Moritz; Steger, Thomas Michael - 2021
How have house prices evolved over the long-run? This paper presents annual house prices for 14 advanced economies since 1870. Based on extensive data collection, we show that real house prices stayed constant from the 19th to the mid-20th century, but rose strongly during the second half of the...
Persistent link: https://www.econbiz.de/10013315572
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Real Convergence, Price Level Convergence and Inflation Differentials in Europe
Egert, Balázs - CESifo - 2007
root of different inflation rates in Europe including the EU-27. Among others, we study the structural and cyclical factors … descriptive statistics. Subsequently, we set out the possible mismatches between price level convergence and inflation rates … factors on observed inflation rates first in an accounting framework and then by relying on panel estimations. Our estimation …
Persistent link: https://www.econbiz.de/10005765781
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Forecasting Random Walks Under Drift Instability
Pesaran, M. Hashem - 2011
techniques are applied to monthly inflation series of 21 OECD countries and it is found that average forecasting methods in …
Persistent link: https://www.econbiz.de/10012756639