beneficial when the correlation of the shocks hitting the various economies is low. However, given the potentially adverse … likely to be counterproductive when demand or supply shocks are highly symmetric across countries and the governments are …

trade shocks and capital flows are analyzed. The choice of the nominal exchange rate regime is found to be a crucial factor … in the way various shocks are transmitted through the monetary sector. A logit model is used on panel data and … preliminary results indicate that countries with flexible regimes were able to lessen the impact of external shocks on the …

semi-automatically respond to region- and country-specific shocks via a central fiscal stabilization fund (CFSF). A simple … of the CFSF to these shocks. A well-designed CFSF has the potential to improving welfare not only in crisis-hit member …

We use electoral survey data to examine the impact that two large external shocks had on the development of New Zealand … migration, both increased voting for NZF in its first years of existence. These shocks led to changes in political attitudes and … in explaining the rise of populism in NZ. Understanding how these shocks led to the development of NZF is particularly …

convergence rates. Consistent with theories, the persistence of productivity differentials is found to be positively correlated …, productivity convergence appears to be enhanced by human capital but deterred by government spending. …

In two-sector infinite-horizon trade models with factor–price-equalization, convergence of aggregate capital …

-economy income convergence. Where RCK predicts partial income and consumption convergence between open economies Solow predicts full … convergence. This paper presents, by a small modification of the savings behavior in the Solow model, a framework that matches RCK … country size; that income growth will be a U-shaped function of initial income thus creating differentiated convergence; and …