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We document key features of the deepening economic relationship between Brazil and China. This is evident from sharply … international fora. Data presented show bilateral trade between Brazil and China surging after 2001 and China is now Brazil … rates suggest that China will become the dominant trade partner for Brazil surprisingly soon …
Persistent link: https://www.econbiz.de/10013038340
In this paper we focus on the rapidly deepening bilateral India-China economic relationship. Each is deeply integrating … into the global economy through trade and FDI inflows, China is seen as primarily manufacturing-lead growth with India as … China, and the two have to be considered a joint global presence. India and China are thus viewed in the literature in …
Persistent link: https://www.econbiz.de/10013137669
This paper seeks to understand the interplay between banks, bank regulation, sovereign default risk and central bank guarantees in a monetary union. I assume that banks can use sovereign bonds for repurchase agreements with a common central bank, and that their sovereign partially backs up any...
Persistent link: https://www.econbiz.de/10013076729
We develop a dynamic multi-country trade model with foreign direct investment (FDI) in the form of non-rival technology capital. The model nests structural gravity subsystems for FDI and trade, with accumulation/decumulation of phyisical and technology capital in transition to the steady state....
Persistent link: https://www.econbiz.de/10012947623
Bilateral investment treaties (BITs) have proliferated over the past 50 years such that the number of pairs of countries with BITs is roughly as large as the number of country-pairs that belong to bilateral or regional preferential trade agreements (PTAs). The purpose of this study is to provide...
Persistent link: https://www.econbiz.de/10013122385
The possibility of low-probability extreme events has reignited the debate over the optimal intensity and timing of climate policy. In this paper we therefore contribute to the literature by assessing the implications of low-probability extreme events on environmental policy in a continuous-time...
Persistent link: https://www.econbiz.de/10013139799
Despite the fact that many aggregates are nonlinear functions and the aggregation weights of many macroeconomic aggregates are time-varying, much of the literature on forecasting aggregates considers the case of linear aggregates with fixed, time-invariant aggregation weights. In this study a...
Persistent link: https://www.econbiz.de/10013144208
We analyse optimal saving of risk-averse households when labour income stochastically jumps between two states. The generalized Keynes-Ramsey rule includes a precautionary savings term. A phase diagram analysis illustrates consumption and wealth dynamics within and between states. There is an...
Persistent link: https://www.econbiz.de/10013144214
Properties of dynamic stochastic general equilibrium models can be revealed by either using numerical solutions or qualitative analysis. Very precise and intuition-building results are obtained by working with models which provide closed-form solutions. Closed-form solutions are known for a...
Persistent link: https://www.econbiz.de/10013155278
Multiplicative growth processes that are subject to random shocks often have a skewed distribution of outcomes. In a number of incentivized laboratory experiments we show that a large majority of participants either strongly underestimate skewness or ignore it completely. Participants...
Persistent link: https://www.econbiz.de/10013054022