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Member countries of the European Monetary Union (EMU) initiated wide-ranging labor market reforms in the last decade. This process is ongoing as countries that are faced with serious labor market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union....
Persistent link: https://www.econbiz.de/10010403902
Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded 9 percent of GDP. The current paper presents a unified...
Persistent link: https://www.econbiz.de/10009656609
For more than two decades now, current-account imbalances are a crucial issue in the international policy debate as they threaten the stability of the world economy. More recently, the government debt crisis of the European Union shows that internal current account imbalances inside a currency...
Persistent link: https://www.econbiz.de/10011785688
Both policy makers and researchers have devoted considerable attention in recent years to the large current account and capital account imbalances among OECD countries. In particular, the size of the United States current account deficit has attracted intense attention and spawned numerous...
Persistent link: https://www.econbiz.de/10003583929
This paper analyzes the causes of rising savings rates for the corporate, government, and household sectors, which have jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the Chinese economy are also explored. -- aggregate...
Persistent link: https://www.econbiz.de/10009716768
This paper reviews a growing literature on migration and globalization, focusing on its relevance for developing and …
Persistent link: https://www.econbiz.de/10011518125
This study explores the effects of globalization on gender inequality. Specifically, we depict that, in terms of … capital market integration, globalization alters the gender gap in wage rates through changes in labor demand for capital …-intensive sectors. Consequently, globalization leads to opposite effects on the couple's labor supply and fertility decisions in capital …
Persistent link: https://www.econbiz.de/10011925357
to the relative marginal productivity levels of workers. This paper investigates the role of globalization on the … labor demand. The results suggest that more exposure to globalization through increased exports is associated with lower …-exporting firms. -- China ; gender wage discrimination ; globalization ; firm ownership …
Persistent link: https://www.econbiz.de/10009696894
process of financial globalization. Our central findings indicate that policies promoting financial sector development …, institutional quality and trade openness appear to help developing countries derive the benefits of globalization. Similarly, sound … unavoidable tensions inherent in evaluating the risks and benefits associated with financial globalization. In light of these …
Persistent link: https://www.econbiz.de/10003816538
The role of product innovations is growing in the world economy, and the EU and the US are key players here. The analysis presented herein explains product innovations in the EU25 for the period 2006-2012, namely through lagged R&D (relative to GDP), cumulated FDI inflows (relative to the host...
Persistent link: https://www.econbiz.de/10010409773