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Does trade integration imply growth in Latin America? : evidence from a dynamic spatial spillover model
Blasques, F.; Gorgi, P.; Koopman, Siem Jan; Sampi, J. - 2023
To investigate the role of intra-regional trade integration on economic growth in Latin America, we develop a multilevel spatial production network model with time-varying parameters. The theoretical model is established for a multi-country and multi-sectoral economy. The reduced-form...
Persistent link: https://www.econbiz.de/10014233425
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Exchange rate policy under sovereign default risk
Schabert, Andreas - 2011
Persistent link: https://www.econbiz.de/10008857054
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Debt, deficits, and destabilizing monetary policy in open economies
Schabert, Andreas; Wijnbergen, Sweder van - 2006 - Revised Version: May 2006
inflation stabilization. Unstable dynamics can occur when the CB is aggressively raising the interest rate in response to higher … expected inflation. The constraint on stabilizing interest rate policy is tighter the higher the primary deficit and the more … policy to be accommodating (passive). Inflation stabilization is nevertheless feasible if the CB uses an instrument not …
Persistent link: https://www.econbiz.de/10011349206
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Volatility smirk as an externality of agency conflict and growing debt
Jaskowski, Marcin; McAleer, Michael - 2013
Persistent link: https://www.econbiz.de/10009784936
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Exchange rate policy under sovereign default risk
Schabert, Andreas - 2011
We examine monetary policy options for a small open economy where sovereign default might occur due to intertemporal insolvency. Under interest rate policy and floating exchange rates the equilibrium is indetermined. Under a fixed exchange rate the equilibrium is uniquely determined and...
Persistent link: https://www.econbiz.de/10011383088
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Sovereign default and the stability of inflation targeting regimes
Schabert, Andreas; Wijnbergen, Sweder van - 2011 - This version: January 2011
the presence of sovereign default beliefs a monetary policy, which aims to stabilize inflation through an active interest …
Persistent link: https://www.econbiz.de/10011386429
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Economic growth and the volatility of foreign aid
Chervin, Michal; Wijnbergen, Sweder van - 2009
Foreign aid’s effectiveness in promoting economic growth remains mired in controversy.We examine the impact of the volatility of aid on economic growth, controlling for the level of aid. A four-year panel analysis is conducted encompassing 155 countries over the period 1966-2001. We find that...
Persistent link: https://www.econbiz.de/10011379530
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Growth effects of fiscal policies : a comparative analysis in a multi-country context
Brons, Martijn; Groot, Henri L. F. de; Nijkamp, Peter - 1999
The potential interactions among fiscal policies, investments and economicgrowth are complex and manifold.In this paper, we will perform a systematic comparative analysis of the variouseconomic insights that arecurrently available on these complex relationships, both theoretically (by aselective...
Persistent link: https://www.econbiz.de/10011301152
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Skill intensity in foreign trade and economic growth
Wörz, Julia - 2004
This paper explores the link between trade structure, trade specialization and per capita incomegrowth. It is argued that industrial upgrading in export specialization patterns has a positive long-rungrowth effect, while the effect of structural change in industrial import patterns is in...
Persistent link: https://www.econbiz.de/10011335211
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Space and growth
Abreu, Maria; Groot, Henri L. F. de; Florax, Raymond J. … - 2004
literature. In contrast, studies on relative location tend to be weakly linked to theory, but apply relatively sophisticated … appropriateness of such models, and identify areas of potential concern. The rather weak linkage between theory and operational models …
Persistent link: https://www.econbiz.de/10011342567