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Consumer preferences and the reliability of Euler equation tests of capital mobility : some simulation-based evidence

Buch, Claudia M.; Döpke, Jörg; Pierdzioch, Christian - 2002

The globalization of international financial markets has renewed interest in the measurement of capital mobility. Consumption-based tests such as the Euler equation test are commonly used. These tests, however, are derived under restrictive assumptions on consumer behavior. In this paper, we ask...

Persistent link: https://www.econbiz.de/10011475881

Where is the value added? : trade liberalization and production networks

Aichele, Rahel; Heiland, Inga - 2016

theory-based measures for production networks from a multi-sector gravity model with inter-sectoral linkages to analyze the …, calibrate it to the year 2000 using the World Input-Output Database, and perform a counterfactual analysis of China’s WTO … and for about 7% of the decline in this figure on the world level as observed between 2000 and 2007. Furthermore, our …

Persistent link: https://www.econbiz.de/10011517926

Going deep : the trade and welfare effects of TTIP

Aichele, Rahel; Felbermayr, Gabriel J.; Heiland, Inga - 2014

rest of the world relative to the status quo. However, there is substantial heterogeneity across the 134 geographical …

Persistent link: https://www.econbiz.de/10010469287

Kyoto and carbon leakage : an empirical analysis of the carbon content of bilateral trade

Aichele, Rahel; Felbermayr, Gabriel - 2011

Has the Kyoto Protocol induced carbon leakage? We conduct the first empirical ex-post evaluation of the Protocol. We derive a theoretical gravity equation for the CO2 content of trade, which accounts for intermediate inputs, both domestic and imported. The structure of our new panel database of...

Persistent link: https://www.econbiz.de/10009383458

Transatlantic free trade : the view point of Germany

Felbermayr, Gabriel; Aichele, Rahel - 2014

America would be the largest preferential trade agreement in the world. Encompassing almost half of world GDP, it will have …

Persistent link: https://www.econbiz.de/10010469280

Financial openness and business cycle volatility

Buch, Claudia M.; Döpke, Jörg; Pierdzioch, Christian - 2002

This paper discusses whether the integration of international financial markets affects business cycle fluctuations. In the framework of a new open economy macro-model, we show that the link between financial openness and business cycle volatility depends on the nature of the underlying shock....

Persistent link: https://www.econbiz.de/10011475038

Financial market integration and business cycle volatility in a monetary union

Pierdzioch, Christian - 2002

This paper uses a dynamic general equilibrium two-country optimizing sticky-price model to analyze the consequences of international financial market integration for the propagation of asymmetric productivity shocks in a monetary union. The model implies that business cycle volatility is higher...

Persistent link: https://www.econbiz.de/10011475042

Noise traders' trigger rates, FX options, and smiles

Pierdzioch, Christian - 2000

A contingent claims valuation model which allows to highlight the implications of program trading in spot markets for the pricing of European-style foreign currency options and for the volatility strike structure implicit in these contracts is devoloped. The curvature of the volatility strike...

Persistent link: https://www.econbiz.de/10011476532

The effectiveness of the FX market interventions of the Bundesbank during the Louvre period : an options-based analysis

Pierdzioch, Christian - 2000

The effectiveness of the foreign exchange market interventions conducted by the Deutsche Bundesbank during the Louvre period to alter either the level or the volatility of the $/DM spot rate is examined. Volatility quotes implicit in foreign currency options are employed to recover the impact of...

Persistent link: https://www.econbiz.de/10011476547

Capital mobility and the effectiveness of fiscal policy in open economies

Pierdzioch, Christian (contributor) - 2003 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001760397