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Dhingra, Swati; Sampson, Thomas - 2022

and uncertainty shocks. Voting for Brexit had large negative effects on the UK economy between 2016 and 2019, leading to …

Persistent link: https://www.econbiz.de/10012806478

Exchange rate uncertainty and labour market adjustment under fixed and flexible exchange rates

Chen, Yu-Fu; Funke, Michael - 2002

The standard literature on working time has modelled the decisions of firms in a deterministic framework in which firms can choose between employment and overtime (given mandated standard hours). Contrary to this approach, we follow the real options approach, which allows us to investigate the...

Persistent link: https://www.econbiz.de/10011541121

Uncertainty and hyperinflation : European inflation dynamics after World War I

López, José A.; Mitchener, Kris - 2018

emerged in many European countries after World War I. We demonstrate that economic policy uncertainty was instrumental in … Hungary (GAPH) suffered from frequent uncertainty shocks - and correspondingly high levels of uncertainty - caused by …. In contrast, other European countries exhibited lower levels of measured uncertainty between 1919 and 1925, allowing them …

Persistent link: https://www.econbiz.de/10011855599

Uncertainty, imperfect information, and expectation formation over the firm's life cycle

Chen, Cheng; Senga, Tatsuro; Sun, Chang; Zhang, Hongyong - 2020

-level uncertainty and imperfect information over their life cycle. We find that firms make non-negligible and positively correlated … informed. Moreover, young firms tend to wait long before entering or exiting the market faced with high uncertainty about their …

Persistent link: https://www.econbiz.de/10012258487

A spatial perspective on European integration : heterogeneous welfare and migration effects from the single market and the Brexit

Henkel, Marcel; Seidel, Tobias - 2016

We use a quantitative model to study the implications of European integration for welfare and migration flows across 1,318 regions. The model suggests that an increase of trade barriers to the level of 1957 reduces welfare by about 1-2 percent on average, depending on the presumed trade...

Persistent link: https://www.econbiz.de/10011587896

Is hard Brexit detrimental to EU integration? : theory and evidence

Mikolajun, Irena; Viaene, Jean-Marie - 2018

In the struggle between the forces of free trade and the restrictive influence of insularism the latter recently seems to have the upper hand. This is illustrated by the referendum of June 23, 2016 where the United Kingdom (UK) voted to leave the Europea+n Union (EU). In this paper we evaluate...

Persistent link: https://www.econbiz.de/10011892540

A tale of two surplus countries : China and Germany

Cheung, Yin-Wong; Steinkamp, Sven; Westermann, Frank - 2019

We analyze current account imbalances through the lens of the two largest surplus countries; China and Germany. We observe two striking patterns visible since the 2007/8 Global Financial Crisis. First, while China has been gradually reducing its current account surplus, Germany’s surplus has...

Persistent link: https://www.econbiz.de/10012024585

Foreign currency denominated assets and international shock absorption in Switzerland and Japan

Schnabl, Gunther - 2015

Currencies of countries with persistent current account surpluses and high foreign currency denominated assets such as the Swiss franc and Japanese yen are under a persistent appreciation pressure, what restricts the degree of freedom in the choice of exchange rate regime. Official announcements...

Persistent link: https://www.econbiz.de/10011392509

Net foreign asset positions and appreciation expectations on the Swiss franc and the Japanese yen

Latsos, Sophia; Schnabl, Gunther - 2015

estimations provide mixed evidence for a negative impact of net foreign asset positions and exchange rate uncertainty on interest …

Persistent link: https://www.econbiz.de/10011309557

Exchange rates and consumer prices : evidence from Brexit

Breinlich, Holger; Leromain, Elsa; Novy, Dennis; … - 2019

This paper studies how the depreciation of sterling following the Brexit referendum affected consumer prices in the United Kingdom. Our identification strategy uses input-output linkages to account for heterogeneity in exposure to import costs across product groups. We show that, after the...

Persistent link: https://www.econbiz.de/10012157863

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