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Management of the external value of the renminbi

Oksanen, Heikki - 2015 - This version: 16 April 2015

Pegging the renminbi (RMB) to the US dollar since 1994 has characterised China’s exchange rate policy, under either a …

Persistent link: https://www.econbiz.de/10010515474

Vehicle currency pricing and exchange rate pass-through

Chen, Natalie; Chung, Wanyu; Novy, Dennis - 2019

Using detailed firm-level transactions data for UK imports, we find that invoicing in a vehicle currency is pervasive, with more than half of transactions in our sample invoiced in neither sterling nor the exporter's currency. We then study the relationship between invoicing currency choices and...

Persistent link: https://www.econbiz.de/10012029070

The financial channel of the exchange rate and global trade

Ma, Sai; Schmidt-Eisenlohr, Tim - 2023

This paper provides evidence that the U.S. dollar affects countries' exports through the financial channel of the … exchange rate (Bruno and Shin (2015)). Using global data on trade between countries whose currency is not the U.S. dollar, it … documents a positive relationship between the dollar and import prices. Importantly, this effect is stronger when the dollar …

Persistent link: https://www.econbiz.de/10014293276

Regional equilibrium unemployment theory at the age of the internet

Lutgen, Vanessa; Van der Linden, Bruno - 2015

This paper studies equilibrium unemployment in a two-region economy with matching frictions, where workers and jobs are free to move and wages are bargained over. Job-seekers choose between searching locally or searching in both regions. Search-matching externalities are amplified by the latter...

Persistent link: https://www.econbiz.de/10010515473

Institutions and offshoring decision

Nicolini, Marcella (contributor) - 2007

Persistent link: https://www.econbiz.de/10003597979

Foreign direct investment in producer services : theory and empirical evidence

Raff, Horst; Von der Ruhr, Marc - 2001

This paper examines the pattern of foreign direct investment (FDI) in producer services. We develop a model of FDI in these services and test its predictions using panel data on U.S.FDI in 25 host countries from 1976 to 1995. We find evidence that, in addition to governmental and cultural...

Persistent link: https://www.econbiz.de/10011400886

Thin capitalization rules and multinational firm capital structure

Blouin, Jennifer L.; Huizinga, Harry; Laeven, Luc; … - 2014

This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...

Persistent link: https://www.econbiz.de/10010256736

The tax burden on cross-border investment : company strategies and country responses

Grubert, Harry - 2003

We look at the tax burden on direct investment from three perspectives. The first section illustrates how the recognition of company tax planning and of the importance of intellectual property affects measures of effective tax rates. It also discusses the methodological issues that arise, such...

Persistent link: https://www.econbiz.de/10011507986

Horizontal versus vertical interdependence in multinational activity

Badinger, Harald (contributor); Egger, Peter (contributor) - 2008

Recent research in international economics highlights the role of interdependencies of investment decisions and sales of multinational firms. Previous work focused on and provided evidence for aggregate flows or stocks of foreign direct investment, showing that interdependence declines in...

Persistent link: https://www.econbiz.de/10003720587

Does conditionality work? : a test for an innovative US aid scheme

Öhler, Hannes; Nunnenkamp, Peter; Dreher, Axel - 2011

Performance-based aid has been proposed as an alternative to the failed traditional approach whereby donors make aid conditional on the reform promises of recipient countries. However, hardly any empirical evidence exists on whether ex post rewards are effective in inducing reforms. We attempt...

Persistent link: https://www.econbiz.de/10009127656