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Productivity Growth, Knowledge Flows, and Spillovers
Crespi, Gustavo - 2008
This paper explores the role of knowledge flows and productivity growth by linking direct survey data on knowledge flows to firm-level data on TFP growth. Our data measure the information flows often considered important, especially by policy-makers, such as from within the firm and from...
Persistent link: https://www.econbiz.de/10012464694
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Answering the Queen : Machine Learning and Financial Crises
Fouliard, Jeremy - 2020
Financial crises cause economic, social and political havoc. Macroprudential policies are gaining traction but are still severely under-researched compared to monetary policy and fiscal policy. We use the general framework of sequential predictions also called online machine learning to forecast...
Persistent link: https://www.econbiz.de/10012482520
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Does Inward Foreign Direct Investment Boost the Productivity of Domestic Firms?
Haskel, Jonathan E. - 2002
Are there productivity spillovers from FDI to domestic firms, and, if so, how much should host countries be willing to pay to attract FDI? To examine these questions we use a plant-level panel covering U.K. manufacturing from 1973 through 1992. Across a wide range of specifications, we estimate...
Persistent link: https://www.econbiz.de/10012469991
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Price Volatility and Volume Spillovers between the Tokyo and New York Stock Markets
Ito, Takatoshi - 1993
This paper presents a comprehensive study of the interactions among returns, volatility, and trading volume between the U.S. and Japanese stock markets by using intradaily data from October 1985 to December 1991. By examining the effect of foreign price volatility and trading volume on...
Persistent link: https://www.econbiz.de/10012474348
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Do tax Incentives for Research Increase Firm Innovation? An RD Design for R&D
Dechezleprêtre, Antoine - 2016
We present evidence of a causal impact of research and development (R&D) tax incentives on innovation. We exploit a change in the asset-based size thresholds for eligibility for R&D tax subsidies and implement a Regression Discontinuity Design using administrative tax data on the population of...
Persistent link: https://www.econbiz.de/10012456272
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The Spillovers, Interactions, and (Un)Intended Consequences of Monetary and Regulatory Policies
Forbes, Kristin - 2016
Have bank regulatory policies and unconventional monetary policies--and any possible interactions--been a factor behind … the recent "deglobalisation" in cross-border bank lending? To test this hypothesis, we use bank-level data from the UK … requirements tend to reduce international bank lending and some forms of unconventional monetary policy can amplify this effect …
Persistent link: https://www.econbiz.de/10012456368
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Financial Flows and the International Monetary System
Passari, Evgenia - 2015
We review the findings of the literature on the benefits of international financial flows and find that they are quantitatively elusive. We then present evidence on the existence of a global cycle in gross cross border flows, asset prices and leverage and discuss its impact on monetary policy...
Persistent link: https://www.econbiz.de/10012457495
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Regional Nonadjustment and Fiscal Policy : Lessons for EMU
Obstfeld, Maurice - 1999
How will countries handle idiosyncratic national macroeconomic shocks under the European single currency? The ways in which European countries now react to internally asymmetric shocks provide a better forecast than do the regional response pattern of the United States. In this paper we compare...
Persistent link: https://www.econbiz.de/10012471641
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Uncovered Interest Parity, Forward Guidance, and the Exchange Rate
Galí, Jordi - 2020
Under uncovered interest parity (UIP), the size of the effect on the real exchange rate of an anticipated change in real interest rate differentials is invariant to the horizon at which the change is expected. Empirical evidence using US, euro area and UK data points to a substantial deviation...
Persistent link: https://www.econbiz.de/10012479321
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Fifty Shades of QE : Conflicts of Interest in Economic Research
Fabo, Brian - 2020
research findings of central bank researchers and academic economists regarding the macroeconomic effects of quantitative … easing (QE). We find that central bank papers report larger effects of QE on output and inflation. Central bankers are also …-veals substantial involvement of bank management in research production …
Persistent link: https://www.econbiz.de/10012481153