Showing 1 - 10 of 43
This paper makes two methodological contributions. First, it proposes a framework to decompose total production activities at the country, sector, or country-sector level, to different types, depending on whether they are for pure domestic demand, traditional international trade, simple GVC...
Persistent link: https://www.econbiz.de/10012960797
The real effective exchange rate (REER) is one of the most cited statistical constructs in open-economy macroeconomics. We show that the models used to compute these numbers are not rich enough to allow for the rising importance of global value chains. Moreover, because different sectors within...
Persistent link: https://www.econbiz.de/10013052107
Continental trade blocs are emerging in many parts of the world almost in tandem. If trade blocs are required to … reduction of trade barriers against non-member countries. That may not be politically feasible. On the other hand, in a world of … simultaneous continental trade blocs, an open regionalism in which trade blocs undertake relatively modest external liberalization …
Persistent link: https://www.econbiz.de/10013225933
lower than under the MFN status quo. Estimates from the gravity model suggest the world system may already be in the super …
Persistent link: https://www.econbiz.de/10013322310
We study the implications of global supply chains for the design of monetary policy, using a small-open economy New Keynesian model with multiple stages of production. Within the family of simple monetary policy rules with commitment, a rule that targets separate producer price inflation at...
Persistent link: https://www.econbiz.de/10012844748
How does increasing globalization affect corporate transparency? Freer trade represents different facets and in theory … sector-country-year level, and a second measure of globalization-induced product market competition based on a country's own … engendered by globalization promotes corporate transparency, especially in industries that depend heavily on external financing …
Persistent link: https://www.econbiz.de/10013067063
In this paper, we provide a case study of the impact of globalization on income inequality using data across Chinese … demonstrate a greater decline in urban-rural income inequality. Thus, globalization has helped to reduce, rather than increase …
Persistent link: https://www.econbiz.de/10013219685
exporter and importer, their direct distance, geographic positions relative to the rest of the world and a possible linguistic …
Persistent link: https://www.econbiz.de/10013247409
Using the gravity model, we find evidence of three continental trading blocs: the Americas, Europe and Pacific Asia …. Krugman has supplied an argument against a three-bloc world, assuming no transport costs, and another argument in favor …
Persistent link: https://www.econbiz.de/10013219304
This paper examines two related issues: (a) the implicit methodology used by the U.S. Treasury in determining whether China and America's other trading partners manipulate their exchange rates, and (b) the nature of the Chinese exchange rate regime since July 2005. On the first issue, we...
Persistent link: https://www.econbiz.de/10012776947