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Assessing the International Comovement of Equity Returns

Abate, Girum Dagnachew - 2018

The international comovement of equity returns has been viewed as reflecting either pervasive common shocks or local linkages between countries. This paper brings these perspectives together by assessing the comovement of equity returns in a dynamic model that allows for both common factors and...

Persistent link: https://www.econbiz.de/10012912313

Swept by the Tide? The International Comovement of Capital Flows

Fernandez Lafuerza, Luis Gonzalo - 2019

This paper assesses the international comovement of gross capital flows in a setting simultaneously encompassing aggregate inflows and outflows. It uses as empirical framework a multilevel latent factor model, implemented on flow data for a large sample of countries over more than three decades....

Persistent link: https://www.econbiz.de/10012889898

Trade Policy Instruments Over Time

Bown, Chad P. - 2017

Trade (GATT) and subsequent World Trade Organization (WTO) on choice of policy instruments, as well as how multilateral …

Persistent link: https://www.econbiz.de/10012973566

Gross Capital Flows by Banks, Corporates, and Sovereigns

Avdjiev, Stefan - 2018

This paper constructs a new dataset of quarterly capital flows by sector and establishes four facts. First, the co-movement of capital inflows and outflows is driven by banks. Second, procyclicality of capital inflows is driven by banks and corporates, whereas sovereigns' external liabilities...

Persistent link: https://www.econbiz.de/10012912315

Gross Capital Flows, Common Factors, and the Global Financial Cycle

Barrot, Luis-Diego - 2018

(the VIX, the U.S. real interest rate and real exchange rate, U.S. GDP growth, and world commodity prices) that explain …

Persistent link: https://www.econbiz.de/10012926785

The World Trade Organization and Antidumping in Developing Countries

Bown, Chad P. - 2016

Since the 1995 inception of the World Trade Organization (WTO), developing countries have become some of the most … protection to provide. First, we find evidence consistent with the theory of endogenous trade policy: larger industries that face …

Persistent link: https://www.econbiz.de/10012747971

The Gatt's Starting Point : Tariff Levels Circa 1947

Bown, Chad P. - 2018

How high were import tariffs when GATT participants began negotiations to reduce them in 1947? Establishing this starting point is key to determining how successful the GATT has been in bringing down trade barriers. If the average tariff level was about 40 percent, as commonly reported, the...

Persistent link: https://www.econbiz.de/10012936212

The Empirical Landscape of Trade Policy

Bown, Chad P. - 2018

represented 83 percent of the world's population and 91 percent of the world's GDP in 2013. It addresses the following five … setting trade policy? Finally, how liberalized is world trade? The analysis documents the extent of cross … concludes that substantial trade policy barriers remain as an important feature of the world economy …

Persistent link: https://www.econbiz.de/10012936297

What?S Left for the WTO?

Bown, Chad P. - 2018

established in 2001 but instead on the terms-of-trade theory of trade agreements to identify negotiating priorities. This paper … uses the lens of the terms-of-trade theory to investigate three areas in which it is frequently alleged that currently …

Persistent link: https://www.econbiz.de/10012936698

Is the WTO Passe?

Bagwell, Kyle - 2018

The WTO has delivered policy outcomes that are very different from those likely to emerge out of the recent wave of preferential trade agreements (PTAs). Should economists see this as an efficient institutional hand-off, where the WTO has carried trade liberalization as far as it can manage, and...

Persistent link: https://www.econbiz.de/10012937212