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Public Debt, Economic Growth and Nonlinear Effects : Myth or Reality?
Égert, Balázs - 2013
This paper puts the Reinhart-Rogoff dataset to a formal econometric testing to see whether public debt has a negative nonlinear effect on growth if public debt exceeds 90% of GDP. Using nonlinear threshold models, we show that the negative nonlinear relationship between debt and growth is very...
Persistent link: https://www.econbiz.de/10013084015
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IMF Surveillance and Financial Markets - A Political Economy Analysis
Fratzscher, Marcel - 2014
The International Monetary Fund (IMF) is in the process of re-inventing itself with bilateral and multilateral surveillance emerging as a key function. The paper analyses how IMF surveillance announcements may be influenced by political power that member countries exert at the IMF. First, we...
Persistent link: https://www.econbiz.de/10013069721
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The International Transmission of Monetary Policy
Buch, Claudia M. - 2018
This paper presents the novel results from an internationally coordinated project by the International Banking Research Network (IBRN) on the cross-border transmission of conventional and unconventional monetary policy through banks. Teams from seventeen countries use confidential micro-banking...
Persistent link: https://www.econbiz.de/10012911041
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Strategic Currency Choice in International Trade
Sokolova, Maria - 2015
How exporters choose currency for their exports? Using highly disaggregated data on the population of Russian Federation exporting firms between 2005 and 2009 this paper studies the strategic determinants of currency invoicing decisions. Strategic morives embrace two occurrences in currency...
Persistent link: https://www.econbiz.de/10013011644
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Somatic Distance, Cultural Affinities, Trust and Trade
Melitz, Jacques - 2018
Somatic distance, or differences in physical appearance, proves to be extremely important in the gravity model of bilateral trade in conformity with results in other areas of economics and outside of it in the social sciences. This is also true quite independently of survey evidence about...
Persistent link: https://www.econbiz.de/10012915457
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Innovation Contests
Pérez-Castrillo, David - 2014
We study innovation contests with asymmetric information and identical contestants, where contestants' efforts and … highest quality and receives the revenue generated by the innovation. We characterize the equilibrium behavior, outcomes and …
Persistent link: https://www.econbiz.de/10013055388
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The Impact of Economic Globalization on the Shadow Economy in Egypt
Farzanegan, Mohammad Reza - 2017
This study examines the economic globalization and the shadow economy nexus in Egypt. Using time series data from 1976 … economic globalization is negative and statistically significant for the first three years following the shock. This finding is … obtained by controlling for several intermediary channels in globalization-shadow economy nexus such as education, government …
Persistent link: https://www.econbiz.de/10012956723
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Trade and Investment in the Global Economy
Anderson, James E. - 2017
actual aggregate cross-section data for 89 countries in 2011 to a hypothetical world without FDI. The gains from FDI amount … to 9% of world's welfare and to 11% of world's trade, unevenly distributed among winners and losers. Net exports of FDI …
Persistent link: https://www.econbiz.de/10012947623
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'By a Silken Thread' : Regional Banking Integration and Pathways to Financial Development in Japan's Great Recession
Hoffmann, Mathias - 2013
How do financial development and financial integration interact? We focus on Japan's Great Recession after 1990 to study this question. Regional differences in banking integration affected how the recession spread across the country: financing frictions for credit-dependent firms were more...
Persistent link: https://www.econbiz.de/10013087279
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The Micro Dynamics of Macro Announcements
Mittnik, Stefan - 2013
We examine how regularly scheduled macroeconomic announcements for the U.S., Germany and the euro area affect the German stock market, using high–frequency, minute–by–minute DAX data. Our study extends the literature on high–frequency announcement effects in several ways. First, we...
Persistent link: https://www.econbiz.de/10013074401