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The Covid-19 pandemic and European trade flows : evidence from a dynamic panel model
Caporale, Guglielmo Maria; Sova, Anamaria Diana; Sova, … - 2022
This paper investigates the impact of the Covid-19 pandemic on trade flows in the case of the European countries. First, an ARDL dynamic panel model is estimated using the PMG method to analyse monthly data covering the most recent period (2019M1-2021M12); then, the GMM and PCSE approaches are...
Persistent link: https://www.econbiz.de/10013285828
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The 2008 financial crisis and taxation policy
Hemmelgarn, Thomas; Nicodème, Gae͏̈tan J.A. - 2010
The 2008 financial crisis is the worst economic crisis since the Great Depression of 1929. It has been characterised by a housing bubble in a context of rapid credit expansion, high risk-taking and exacerbated financial leverage, leading to deleveraging and credit crunch when the bubble burst....
Persistent link: https://www.econbiz.de/10003937066
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Sovereign debt relief and its aftermath
Reinhart, Carmen M.; Trebesch, Christoph - 2015
extensions and interest rate reductions, are not generally followed by higher economic growth or improved credit ratings. …
Persistent link: https://www.econbiz.de/10011288795
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Balanced budget rules and fiscal outcomes : evidence from historical constitutions
Asatryan, Zareh; Castellón, César; Stratmann, Thomas - 2016
This paper studies the long-run fiscal consequences of balanced budget rules (BBR) that are enshrined in a country's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that the introduction of a constitutional-BBR reduces...
Persistent link: https://www.econbiz.de/10011474674
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Identifying global and national output and fiscal policy shocks using a GVAR
Chudik, Alexander; Pesaran, M. Hashem; Mohaddes, Kamiar - 2019
the interactions between public debt and real output growth in a multicountry setting, and the results are compared to … about one third of the long-horizon forecast error variance of output growth, and about one fifth of the long run variance …
Persistent link: https://www.econbiz.de/10011956353
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Trade flows, private credit and the Covid-19 pandemic : panel evidence from 35 OECD countries
Caporale, Guglielmo Maria; Sova, Anamaria Diana; Sova, … - 2021
This paper analyses the impact of the Covid-19 pandemic on exports and imports in the case of 35 OECD countries during the 2019Q1-2021Q2 period using a dynamic panel approach, specifically the system Generalized Method of Moments (GMM). In contrast to earlier studies, the empirical specification...
Persistent link: https://www.econbiz.de/10012668484
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The direct and indirect effects of financial development on international trade: evidence from the CEEC-6
Caporale, Guglielmo Maria; Sova, Anamaria Dana; Sova, Robert - 2020
This paper analyses the relationship between international trade and financial development in six EU members from Central and Eastern Europe (CEEC-6) using dynamic panel data approaches, specifically the system Generalized Method of Moments (GMM) and pooled mean group (PMG) estimators. The...
Persistent link: https://www.econbiz.de/10012291894
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Growth and trade with frictions : a structural estimation framework
Anderson, James E.; Larch, Mario; Yotov, Yoto V. - 2015
We build and estimate a structural dynamic general equilibrium model of growth and trade. Trade affects growth through …, growth affects trade, directly through changes in country size and indirectly through altering the incidence of trade costs …. Theory translates into an intuitive econometric system that identifies the causal impact of trade on income and growth, and …
Persistent link: https://www.econbiz.de/10011298529
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The dynamic implications of liberalizing global migration
Delogu, Marco; Docquier, Frédéric; Machado, Joël - 2014
This paper quantitatively investigates the short- and long-run effects of liberalizing global migration on the world distribution of income. We develop and parametrize a dynamic model of the world economy with endogenous migration, fertility and education decisions. We identify bilateral...
Persistent link: https://www.econbiz.de/10010235847
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Granularity in banking and growth : does financial openness matter?
Bremus, Franziska; Buch, Claudia M. - 2013
We explore the impact of large banks and of financial openness for aggregate growth. Large banks matter because of …-level do not cancel out in the aggregate but can affect macroeconomic outcomes. Financial openness may affect GDP growth in and …. Second, financial openness lowers GDP growth. Third, granular effects tend to be stronger in financially closed economies. …
Persistent link: https://www.econbiz.de/10009786228