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On the international dimension of fiscal policy
Benigno, Gianluca (contributor);  … - 2009
idiosyncratic shocks. Even when prices are flexible and inflation can costlessly act as a shock absorber to restore fiscal …
Persistent link: https://www.econbiz.de/10003867915
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Remote work across jobs, companies and space
Bloom, Nicholas; Davis, Steven J.; Hansen, Stephen; … - 2023
Persistent link: https://www.econbiz.de/10014326984
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The output effects of commodity price volatility : evidence from exporting countries
Hachula, Michael; Hoffmann, Sebastian - 2015
Empirical evidence indicates that high oil price volatility has a dampening effect on output in countries that import commodities. Many countries, however, gain important revenues from commodity exports. This paper investigates the output effects of commodity price volatility in commodity...
Persistent link: https://www.econbiz.de/10011346638
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Optimal sovereign default
Adam, Klaus; Grill, Michael - 2013
When is it optimal for a government to default on its legal repayment obligations? We answer this question for a small open economy with domestic production risk in which contracting frictions make it optimal for the government to finance itself by issuing non-contingent debt. We show that...
Persistent link: https://www.econbiz.de/10009733001
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International difference in response to common external shocks: the role of purchasing power parity
Jones, Ronald W.; Purvis, Douglas D. - 1981
Persistent link: https://www.econbiz.de/10003528620
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Exchange rate depreciations and local business cycles : the role of bank loan supply
Beck, Thorsten; Bednarek, Peter; Kaat, Daniel Marcel te; … - 2021
This paper uses matched bank-firm-level data and the 2014 depreciation of the euro to show that exchange rate depreciations lead to increased bank loan supply of large banks with significant net foreign asset exposure. This increase in lending can be explained by a shift in credit towards both...
Persistent link: https://www.econbiz.de/10012792736
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Do exchange rates absorb demand shocks at the ZLB?
Hoffmann, Mathias; Hürtgen, Patrick - 2021
appreciates in response to an asymmetric negative demand shock at the zero lower bound (ZLB) and exacerbates the adverse … at the ZLB. In sharp contrast to the full information model: (i) A negative demand shock concentrated in the home country … causes a real exchange rate depreciation that partially absorbs the demand shock. (ii) A VAR with an identified demand shock …
Persistent link: https://www.econbiz.de/10012510174
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The dynamics of adjustment to debt
Rae, David - 1991
Persistent link: https://www.econbiz.de/10000913066
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Trade shocks, labor markets and elections in the first globalization
Bräuer, Richard; Hungerland, Wolf-Fabian; Kersting, Felix - 2021
This paper studies the economic and political effects of a large trade shock in agriculture – the grain invasion from … the Americas – in Prussia during the first globalization (1871-1913). We show that this shock accelerated the structural …
Persistent link: https://www.econbiz.de/10012648044
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The impact of weather shocks on employment outcomes : evidence from South Africa
Brookes Gray, Harriet; Taraz, Vis; Halliday, Simon D. - 2021
Persistent link: https://www.econbiz.de/10012879896