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Interest rate hysteresis in macroeconomic investment under uncertainty
Belke, Ansgar; Göcke, Matthias - 2019
The interest rate is generally considered as an important driver of macroeconomic investment. As an innovation, this paper derives the exact shape of the "hysteretic" impact of changes in the interest rate on macroeconomic investment under the scenarios of both certainty and uncertainty. We...
Persistent link: https://www.econbiz.de/10012099522
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Interest rate bands of inaction and play-hysteresis in domestic investment : evidence for the Euro area
Belke, Ansgar; Frenzel Baudisch, Coletta; Göcke, Matthias - 2019
The interest rate represents an important monetary policy tool to steer investment in order to reach price stability. Therefore, implications of the exact form and magnitude of the interest rate-investment nexus for the European Central Bank's effectiveness in a low interest rate environment...
Persistent link: https://www.econbiz.de/10012099559
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Bounding the price equivalent of migration barriers
Clemens, Michael A.; Montenegro, Claudio; Pritchett, Lant - 2016
Large international differences in the price of labor can be sustained by differences between workers, or by natural and policy barriers to worker mobility. We use migrant selection theory and evidence to place lower bounds on the ad valorem equivalent of labor mobility barriers to the United...
Persistent link: https://www.econbiz.de/10011454010
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Distributional effects of monetary policy in emerging market economies
Prasad, Eswar S.; Zhang, Boyang - 2015
inflation targeting, exchange rate management benefits households in the tradable goods sector but in the long run these …
Persistent link: https://www.econbiz.de/10011309046
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai (contributor); Linzert, Tobias (contributor) - 2005
employment and hours affecting inflation dynamics via marginal costs. We find that the response of unemployment and inflation to … persistent movements of aggregate inflation. Moreover, the impact of a monetary policy shock on unemployment and inflation … ; matching models ; labor market search ; inflation persistence ; real wage rigidity …
Persistent link: https://www.econbiz.de/10003227218
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The aggregate effects of trade and migration : evidence from OECD countries
Ortega, Francesc; Peri, Giovanni - 2011
Two large but separate bodies of literature analyze the economic effects of international trade and immigration. Given that several factors are important determinants of both trade and migration flows, the previous studies are vulnerable to a potentially serious omitted-variables bias,...
Persistent link: https://www.econbiz.de/10009235086
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The impact of government spending on GDP in a remitting country
Al-Abri, Almukhtar S.; Genc, Ismail H.; Naufal, George - 2018
all, on government spending, which, in turn, has an insignificant impact on GDP. The paper discusses some policy …
Persistent link: https://www.econbiz.de/10011881574
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How do oil prices affect the GDP and its components? : new evidence from a time-varying threshold model
Ben Salem, Leila; Nouira, Ridha; Saafi, Sami; Rault, … - 2024
Revealing the precise thresholds at which fluctuations in oil prices start to affect gross domestic product and its various components (consumption, investment, expenditure and exports) holds significant implications for policymakers in both oil-importing and oil-exporting countries. Existing...
Persistent link: https://www.econbiz.de/10014527191
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Transmission of US and EU economic policy uncertainty shock to Asian economies in bad and good times
Balcilar, Mehmet; Ozdemir, Zeynel Abidin; Ozdemir, Huseyin - 2020
This study empirically examines the fragility of five major Asian economies (China, Hong Kong, India, Japan, and South Korea) to economic policy uncertainty (EPU) of US and EU, and oil prices in different state of the economies. To investigate these dynamics, we use the relative tail dependence...
Persistent link: https://www.econbiz.de/10012226632
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Effect of enforcement shock on pushers' activities : evidence from an Asian drug-selling gang
Leong, Kaiwen; Li, Huailu; Xu, Haibo - 2019
We study a Singaporean drug-selling gang's dataset and empirically find that the gang's pushers purchased larger quantities of drugs during periods of enforcement shocks caused by enforcement activities targeting the gang's drug supply chain. This counter-intuitive finding can be explained by...
Persistent link: https://www.econbiz.de/10011972511