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Technological Diversification
Koren, Miklós; Tenreyro, Silvana - 2021
Why is GDP so much more volatile in poor countries than in rich ones? To answer this question, we propose a theory of technological diversification. Production makes use of different input varieties, which are subject to imperfectly correlated shocks. As in endogenous growth models,...
Persistent link: https://www.econbiz.de/10013318779
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What is Global Excess Liquidity, and Does it Matter?
Rueffer, Rasmus; Stracca, Livio - 2021
variables in the world's three largest economies (the US, the euro area and Japan) …
Persistent link: https://www.econbiz.de/10013317361
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Advanced Economy Inflation : The Role of Global Factors
Mikolajun, Irena - 2016
A number of studies document the prominent role of global factors in domestic inflation developments (e.g. Borio and … Filardo, 2007; Ciccarelli and Mojon, 2010). In this paper we investigate global dimensions of advanced economy inflation. We … inflation expectations and augment Phillips curves with global factors including global economic slack, global inflation and …
Persistent link: https://www.econbiz.de/10012984217
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Import Price Dynamics in Major Advanced Economies and Heterogeneity in Exchange Rate Pass-Through
Dees, Stephane - 2008
This paper aims at showing heterogeneity in the degree of exchange rate pass-through to import prices in major advanced economies at three different levels: 1) across destination markets; 2) across types of exporters (distinguishing developed economy from emerging economy exporters); and 3) over...
Persistent link: https://www.econbiz.de/10012770624
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Banking and Currency Crises : Differential Diagnostics for Developed Countries
Joy, Mark - 2015
inflation. For currency crises, high domestic short-term rates coupled with overvalued exchange rates are the most powerful …
Persistent link: https://www.econbiz.de/10013020638
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An Investigation on the Effect of Real Exchange Rate Movements on OECD Bilateral Exports
Berthou, Antoine - 2021
The reaction of exports to real exchange rate movements can differ according to the nature of the destination country. We derive and estimate a gravity equation for 20 OECD exporting countries and 52 developed and developing importing countries. We test how trade costs dampen the effect of real...
Persistent link: https://www.econbiz.de/10013316499
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Sovereign Credit Ratings, Market Volatility, and Financial Gains
Afonso, António - 2014
The reaction of EU bond and equity market volatilities to sovereign rating announcements (Standard & Poor's, Moody's, and Fitch) is investigated using a panel of daily stock market and sovereign bond returns. The parametric volatilities are filtered using EGARCH specifications. The estimation...
Persistent link: https://www.econbiz.de/10013057674
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Current Account Reversals in Industrial Countries : Does the Exchange Rate Regime Matter?
Pancaro, Cosimo - 2013
This paper studies current account reversals in industrial countries across different exchange rate regimes. There are two major findings which have important implications for industrial economies with external imbalances: first, triggers of current account reversals differ between exchange rate...
Persistent link: https://www.econbiz.de/10013082531
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Global Inflation : The Role of Food, Housing and Energy Prices
Parker, Miles - 2017
This paper studies the role of global factors in causing common movements in consumer price inflation, with particular … collected from national and international sources. Global factors explain a large share of the variance of national inflation …
Persistent link: https://www.econbiz.de/10012962351
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Commodity Prices, Money and Inflation
Browne, Frank - 2007
equilibrium values having explanatory power for subsequent consumer price inflation …
Persistent link: https://www.econbiz.de/10012777411