Narrow search
Showing 1 - 10 of 526
Cover Image
The U.S. Dollar Exchange Rate and the Demand for Oil
De Schryder, Selien - 2013
Using recent advances in panel data estimation techniques, we find that an appreciation of the US dollar exchange rate leads to a significant decline in oil demand for a sample of 65 oil-importing countries. The estimated effect turns out to be much larger than the impact of a shift in the...
Persistent link: https://www.econbiz.de/10013086048
Cover Image
Central Bank Swap Lines
Bahaj, Saleem - 2018
Swap lines between advanced-economy central banks are a new important part of the global financial architecture. This paper analyses their monetary policy effects from three perspectives. First, from the perspective of the central banks, it shows that the swap line mimics discount-window credit...
Persistent link: https://www.econbiz.de/10012912674
Cover Image
Carry Funding and Safe Haven Currencies : A Threshold Regression Approach
Hossfeld, Oliver - 2015
In this paper, we analyze which currencies can be regarded as safe haven currencies. Our empirical approach allows us to distinguish between a low and high stress regime, and to control for the impact of carry trade reversals and other fundamental determinants. We therefore address the question...
Persistent link: https://www.econbiz.de/10013030487
Cover Image
The International Monetary Fund : 70 Years of Reinvention
Reinhart, Carmen - 2016
A sketch of the International Monetary Fund's 70-year history reveals an institution that has reinvented itself over time along multiple dimensions. This history is primarily consistent with a “demand driven” theory of institutional change, as the needs of its clients and the type of crisis...
Persistent link: https://www.econbiz.de/10013000216
Cover Image
Pulling Up the Tarnished Anchor : The End of Silver As a Global Unit of Account
Fernholz, Ricardo T. - 2017
We use the demise of silver-based standards in the 19th century to explore price dynamics when a commodity-based money ceases to function as a global unit of account. We develop a general equilibrium model of the global economy with gold and silver money. Calibration of the model shows that...
Persistent link: https://www.econbiz.de/10012955754
Cover Image
Global Sourcing of Complex Production Processes
Schwarz, Christian - 2011
We develop a theory of a firm in an incomplete contracts environment which decides on its complexity, organization, and global scale. Specifically, the firm decides i) how thinly it wants to slice its production process by choosing the mass of symmetric intermediate inputs that are...
Persistent link: https://www.econbiz.de/10013120903
Cover Image
Manufacturers and Retailers in the Global Economy
Raff, Horst - 2011
We develop a general-equilibrium model to capture key features of the retailing and of the manufacturing industry in order to understand how these two industries interact and how labor is allocated between them. We show that the observed shift in employment from manufacturing to retailing, the...
Persistent link: https://www.econbiz.de/10013122636
Cover Image
Financial Integration, Globalization, and Real Activity
De Nicolo, Gianni - 2013
distinct impact of financial integration and globalization on several dimensions of real activity. We find that: financial … financial integration predict better growth prospects; both advances in financial integration and globalization are associated … financial integration and globalization indeed foster countries' growth, and there appears to be no trade-off between these …
Persistent link: https://www.econbiz.de/10013091562
Cover Image
What Drives the Global Land Rush?
Arezki, Rabah - 2013
This paper studies the determinants of foreign land acquisition for large-scale agriculture. To do so, gravity models are estimated using data on bilateral investment relationships, together with newly constructed indicators of agro-ecological suitability in areas with low population density as...
Persistent link: https://www.econbiz.de/10013092012
Cover Image
Distance, Globalization, and International Trade
Borchert, Ingo - 2017
For a long time globalization could be seen everywhere but in gravity estimates. We offer evidence how globalization …
Persistent link: https://www.econbiz.de/10012963770