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The real exchange rate - real interest rate (RERI) relationship is central to most open economy macroeconomic models. However, empirical support for the relationship, especially when cointegrationbased methods are used, is rather weak. In this paper we reinvestigate the RERI relationship using...
Persistent link: https://www.econbiz.de/10011506475
Previous assessments of nominal exchange rate determination have focused upon a narrow set of models typically of the 1970 s vintage, including monetary and portfolio balance models. In this paper we re-assess the in-sample fit and out-of-sample prediction of a wider set of models that have been...
Persistent link: https://www.econbiz.de/10011507659
, this will be illustrated for the cases of France, Germany, Italy, Japan, Sweden, the UK, and the US. The results are based …
Persistent link: https://www.econbiz.de/10011514127
We investigate the employment consequences of deindustrialization for 1,993 cities in France, Germany, Great Britain …, Italy, Japan, and the United States. In all six countries we find a strong negative relationship between a city's share of …
Persistent link: https://www.econbiz.de/10014444059
for low inflation. Using data for four G7 economies, the paper shows that, except for Germany, nonlinear and asymmetric …This paper analyses the impact of asymmetric preferences with respect to inflation and output by policymakers on … monetary authority develops a greater precautionary demand for output expansions than for low inflation. This may generate a …
Persistent link: https://www.econbiz.de/10011410664
of migrants to four countries, viz. France, Germany, the UK and the US, which receive a substantial share of all …
Persistent link: https://www.econbiz.de/10003771831
micro-data for France, Germany, the UK and the US, we study their decisions to migrate to one of the four countries using a …
Persistent link: https://www.econbiz.de/10003805994
Immigration may impact income distribution both by affecting the skill composition of a country's residents, and, by changing relative factor supplies, its relative factor prices. We provide some background evidence on compositional factors but focus primarily on factor prices. We first consider...
Persistent link: https://www.econbiz.de/10010227178
from millions of digitized books for the USA, UK, Germany, France, Italy and Spain. While existing measures go back at most …
Persistent link: https://www.econbiz.de/10011476047
the last decade. Using stylised models of the economies of the US, Euro area, UK and Japan, we argue that economic … stability has been fostered by improved monetary policy and by associated changes in the behaviour of inflation, which has …
Persistent link: https://www.econbiz.de/10002521030