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The Modality of Fiscal Consolidation and Current Account Adjustment

Adam, Antonis - 2015

In this paper we argue that supply-side adjustments (i.e. the reallocation of productive resources between the traded and non-traded sectors) can be an important determinant of the output costs of current account adjustment. The argument relies on the fact that tax evasion is more prevalent in...

Persistent link: https://www.econbiz.de/10013018270

Exchange-Rate Adjustment and Macroeconomic Interdependence between Stagnant and Fully Employed Countries

Ono, Yoshiyasu - 2014

This paper presents a two-country two-commodity dynamic model with free international asset trade in which one country achieves full employment and the other suffers long-run unemployment. Own and spill-over effects of changes in policy, technological and preference parameters that emerge...

Persistent link: https://www.econbiz.de/10013057259

The Impact of Financial (De-)Regulation on Current Account Balances

Moral-Benito, Enrique - 2014

Both global imbalances and financial market (de-)regulation feature prominently among the potential causes of the global financial crisis, but they have been largely discussed separately. In this paper, we take a different angle and investigate the relationship between financial market...

Persistent link: https://www.econbiz.de/10013043215

Capital Flows in the Euro Area and TARGET2 Balances

Hristov, Nikolay - 2018

We estimate a panel VAR model for the euro area to quantitatively asses the contribution of the TARGET2 system to the propagation of different types of structural economic shocks as well as to the historical evolution of aggregate economic activity in euro area member countries. Our results...

Persistent link: https://www.econbiz.de/10012922834

Exchange-Rate Adjustment and Macroeconomic Interdependence between Stagnant and Fully Employed Countries

Ono, Yoshiyasu - CESifo - 2014

Persistent link: https://www.econbiz.de/10010747221

The Impact of Financial (De-)Regulation on Current Account Balances

Moral-Benito, Enrique; Röhn, Oliver - CESifo - 2014

Persistent link: https://www.econbiz.de/10011082830

The Real Exchange Rate in the Long Run: Balassa-Samuelson Effects Reconsidered

Bordo, Michael D.; Choudhri, Ehsan U.; Fazio, Giorgio; … - CESifo - 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/10010877817

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

Terms of Trade, Catch-Up, and Home Market Effect : The Example of Japan

Urban, Dieter M. - 2021

interdependencies between the terms of trade and economic growth are offered: the home market effect and the productivity shock effect …

Persistent link: https://www.econbiz.de/10013316647

Austerity, Growth and Inflation - Remarks on the Eurozone's Unresolved Competitiveness Problem

Sinn, Hans-Werner - 2013

While the financial protection measures enacted by the ECB and the community of Eurozone members have calmed financial markets, they have left the competitiveness problem of the Eurozone's southern countries and France unresolved. The paper compares price inflation before the crisis with the...

Persistent link: https://www.econbiz.de/10013087283

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