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The quantitative importance of openness in development
Cai, Wenbiao; Ravikumar, B.; Riezman, Raymond Glenn - 2013
This paper deals with a classic development question: how can the process of economic development - transition from stagnation in a traditional technology to industrialization and prosperity with a modern technology - be accelerated? Lewis (1954) and Rostow (1956) argue that the pace of...
Persistent link: https://www.econbiz.de/10010189831
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Ordoliberalism, pragmatism and the Eurozone crisis : how the German tradition shaped economic policy in Europe
Feld, Lars P.; Köhler, Ekkehard A.; Nientiedt, Daniel - 2015 - This version: May 18, 2015
German policy during the Eurozone crisis supposedly follows an ordoliberal tradition. In this paper, we discuss to what extent this contention holds and to what extent Germany pragmatically responded to different crisis phenomena. A proper analysis of ordoliberal thinking reveals that the...
Persistent link: https://www.econbiz.de/10010528303
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Economic policy uncertainty, trust and inflation expectations
Istrefi, Klodiana; Piloiu-Popescu, Anamaria-Valeria - 2013 - Second Draft: February 2013
Theory and evidence suggest that in an environment of well-anchored expectations, temporary news or shocks to economic variables, should not affect agents ́expectations of inflation in the long term. Our estimated structural VARs show that both long- and short-term inflation expectations are...
Persistent link: https://www.econbiz.de/10009764421
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The economics of politics : patronage and political selection in Italy
Quaresima, Federico; Fiorillo, Fabio - 2016
This article investigates the patronage phenomenon in the italian, so called, Second Republic. In particular, the analysis argues that (ex) members of parliament are appointed to managerial boards in italian (partially) state-owned enterprises responding to political selection rationales....
Persistent link: https://www.econbiz.de/10011571525
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Where you export matters: measuring uncertainty in Turkey's export markets
Fang, Jianchun; Gozgor, Giray; Pekel, Sercan - 2020
Using data from the World Uncertainty, World Trade Uncertainty, and World Pandemic Uncertainty indices for 142 countries, this paper introduces three new indicators for measuring uncertainty in Turkey's export markets from the first quarter of 1996 to the first quarter of 2020. The indicators...
Persistent link: https://www.econbiz.de/10012240442
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On the determinants of labour market institutions : rent-sharing vs. social insurance
Agell, Jonas - 2000
What determines the structure of labour market institutions? This paper argues that common explanations based on rent sharing are incomplete; unions, job protection, and egalitarian pay structures may have as much to do with social insurance of otherwise uninsurable risks as with rent sharing and...
Persistent link: https://www.econbiz.de/10009786721
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Globalisation and the slope of the Phillips curve
Kohlscheen, Emanuel; Moessner, Richhild - 2021
We study the effects of globalisation on the slope of the New Keynesian Phillips curve for CPI inflation, based on a broad panel of 35 countries and controlling for possibly non-linear exchange rate effects. We find that the output gap generally has a significant positive effect on inflation,...
Persistent link: https://www.econbiz.de/10012653311
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Revisiting the relationship between trade liberalization and taxation
Arezki, Rabah; Dama, Alou Adessé; Graziosi, Grégoire Rota - 2021
This paper explores the dynamic effects of trade liberalization on tax revenue using a worldwide panel dataset. Results point to statistically significant negative effect of liberalization on (non- resource) tax revenues in the short term and no significant effect in the medium term....
Persistent link: https://www.econbiz.de/10012603019
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Nontradable goods and fiscal multipliers
Crespo Cuaresma, Jesús; Glocker, Christian - 2020
We assess the role that nontradable goods play as a determinant of fiscal spending multipliers, making use of a two-sector model. While fiscal multipliers increase with the share of nontradable goods, an inverted U-shaped relationship exists between multiplier size and the import share....
Persistent link: https://www.econbiz.de/10012270412
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Growth gains from trade
Marjit, Sugata; Basu, Anwesha; Veeramani, C. - 2019 - This Draft: October, 2019
This paper revisits the relationship between international trade and economic growth. We measure trade openness indices … output and global input output tables to construct the measures of trade openness, our empirical analysis covering 21 … countries, 30 industries and 15 years reveals that trade openness in terms of intermediate and capital goods lead to economic …
Persistent link: https://www.econbiz.de/10012120367