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devaluation. Using a new high-frequency data set on commodity-price movements from the classical gold standard era, we then show …
Persistent link: https://www.econbiz.de/10012965714
to the Great Depression? How did countries balance the externals demands of the gold standard with domestic policy … estimate central bank rate reaction functions for a panel of 22 countries during the inter-war gold standard. The estimates …
Persistent link: https://www.econbiz.de/10013095799
constructed by exploiting variations in the price of gold around events that capture periods of changes in uncertainty. The … variations in the price of gold around the events correlate with the underlying uncertainty shocks, due to the perception of gold …
Persistent link: https://www.econbiz.de/10012961957
price of gold coin is an important factor in cost-benefit analysis for individuals in their marriage and divorce decisions … in Iran. Dowries (Mehrieh) are usually in the form of gold coin and a wife has a legal right to them upon both parties … signing the marriage contract. Increasing the price of gold coin may intensify the internal stress and struggles within …
Persistent link: https://www.econbiz.de/10012924341
The paper examines the timing of exit from the interwar gold-exchange standard for a panel of European countries, based … on monthly data over the period January 1928 - December 1936. I show that exit from gold can be understood in terms of a …
Persistent link: https://www.econbiz.de/10013316548
contracts. The implications of these results for hedging and forecasting crude oil spot prices are also discussed …
Persistent link: https://www.econbiz.de/10013094836
possesses “true” safe haven qualities; i.e. it provides a hedge against global stock market losses in stressful times even after … currencies, and the euro serves as a hedge currency. Results for the yen support its role as a carry funding vehicle, but not …
Persistent link: https://www.econbiz.de/10011097944
A major feature of recent monetary policy in Japan has been heavy reliance on the so-called policy duration effect. This policy employs a commitment to compensate for the central bank’s inability to lower the interest rate below zero by altering the anticipated course of monetary policy...
Persistent link: https://www.econbiz.de/10005405784
Helpman, Melitz and Rubinstein (2008) derive gravity equations to estimate effects of trade barriers on the intensive and extensive margins of trade. They exploit the frequency of zeros in aggregate bilateral trade data to identify effects on the extensive margin and to obtain controls for firm...
Persistent link: https://www.econbiz.de/10013128040
Quantitative results from a large class of international trade models depend critically on the elasticity of trade with respect to trade frictions. We develop a simulated method of moments estimator to estimate this elasticity from disaggregate price and trade-flow data using the Ricardian...
Persistent link: https://www.econbiz.de/10013129252