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Bubbles and crashes in a behavioural finance model
De Grauwe, Paul; Grimaldi, Marianna - 2004
We develop a simple model of the exchange rate in which agents optimize their portfolio and use different forecasting rules. They check the profitability of these rules ex post and select the more profitable one. This model produces two kinds of equilibria, a fundamental and a bubble one. In a...
Persistent link: https://www.econbiz.de/10011401333
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The risk of policy tipping and stranded carbon assets
Ploeg, Frederick van der; Rezai, Armon - 2019 - Revised July 2019
If global warming is to stay below 2°C, there are four risks of assets stranding. First, substantial fossil fuel reserves will be stranded at the end of the fossil era. Second, this will be true for exploration capital too. Third, unanticipated changes in present or expected future climate...
Persistent link: https://www.econbiz.de/10012039083
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Global environmental agreements and international trade : asymmetry of countries matters
Eichner, Thomas; Pethig, Rüdiger - 2014
climate policy takes the form of carbon emission taxation and fossil fuel and consumption goods are traded on world markets …
Persistent link: https://www.econbiz.de/10010428830
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Forging a global environmental agreement through trade sanctions on free riders?
Eichner, Thomas; Pethig, Rüdiger - 2015
This paper studies the formation of self-enforcing global environmental agreements in a world economy with …
Persistent link: https://www.econbiz.de/10011281297
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Optimal tariffs, retaliation and the welfare loss from tariff wars in the Melitz model
Felbermayr, Gabriel; Jung, Benjamin; Larch, Mario - 2011
tariffs ; retaliation ; tariff wars ; heterogeneous firms ; World Trade Organization ; Nash equilibrium …
Persistent link: https://www.econbiz.de/10009130204
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On the heterogeneous trade and welfare effects of GATT/WTO membership
Felbermayr, Gabriel; Larch, Mario; Yalçin, Erdal; … - 2020
We build on the latest developments in the structural gravity literature to quantify the partial and general equilibrium effects of GATT/WTO membership on trade and welfare. Using an extensive database covering manufacturing trade for 186 countries over the period 1980-2016, we find that the...
Persistent link: https://www.econbiz.de/10012287974
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Beyond the dogma of the fixed book price agreement
Ploeg, Frederick van der - 2003
the book world and the political arena. …
Persistent link: https://www.econbiz.de/10011507914
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The effects of monetary policy : a meta-analysis : presented at CESifo Area Conference on Macro, Money and International Finance, February 2004
De Grauwe, Paul; Costa, Cláudia - 2004
In this paper we perform a meta-analysis of the effects of monetary policies on output and prices. We use a sample of published papers on the effects of monetary policies in different countries. There is a large variation in the estimated effects of monetary policies on output and prices. We...
Persistent link: https://www.econbiz.de/10011449687
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Exploring the intensive and extensive margins of world trade : presented at Venice Summer Institute, Workshop on Dissecting Globalization, July 2004
Felbermayr, Gabriel; Kohler, Wilhelm - 2004
World trade evolves at two margins. Where a bilateral trading relationship already exists it may increase through time … have not traded with each other in the past (extensive margin). We provide an empirical dissection of post-World-War- II … growth in manufacturing world trade along these two margins. We propose a "cornersolutions- version"of the gravity model to …
Persistent link: https://www.econbiz.de/10011450770
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What do we really know about the transatlantic current account?
Braml, Martin T.; Felbermayr, Gabriel - 2019
Do the U.S. have a current account surplus or a deficit with the EU? Since 2009, official sources disagree: The U.S. Department of Commerce claims a consistent U.S. surplus while Eurostat reports the opposite. International transactions are notoriously difficult to measure accurately, but the...
Persistent link: https://www.econbiz.de/10012065058