Narrow search
Showing 1 - 10 of 95
Cover Image
The Double-Edged Sword of Global Integration : Robustness, Fragility & Contagion in the International Firm Network
Grant, Everett; Yung, Julieta - 2017
We estimate global inter-firm networks across all major industries from 1981 through 2016 and provide the first empirical tests for both robust (beneficial) and fragile (harmful) network behavior, relating firms' health with global integration. More connected firms are less likely to be in...
Persistent link: https://www.econbiz.de/10014121009
Cover Image
Does Bitcoin Reveal New Information About Exchange Rates and Financial Integration?
Pieters, Gina C. - 2017
I show that the prices of the internationally traded crypto-currency bitcoin can be used to estimate a currency's unofficial exchange rate and capital controls at a daily interval. Two important bitcoin features are documented: (1) Bitcoin-based exchange rates approximate the behavior, but not...
Persistent link: https://www.econbiz.de/10012965854
Cover Image
Globalization, Market Structure and Inflation Dynamics
Guilloux-Nefussi, Sophie - 2017
The decline in the sensitivity of inflation to domestic slack observed in developed countries since the mid 1980's has been often attributed to globalization. However, this intuition has so far not been formalized. I develop a general equilibrium setup in which the sensitivity of inflation to...
Persistent link: https://www.econbiz.de/10012967361
Cover Image
Economic Fundamentals and Monetary Policy Autonomy
Davis, Scott - 2017
During a time of rising world interest rates, the central bank of a small open economy may be motivated to increase its … bank will opt for exchange rate and capital flow stabilization during a time of rising world interest rates. A current …
Persistent link: https://www.econbiz.de/10012969917
Cover Image
Inflation as a Global Phenomenon - Some Implications for Policy Analysis and Forecasting
Kabukcuoglu Dur, Ayşe - 2017
We evaluate the performance of inflation forecasts based on the open-economy Phillips curve by exploiting the spatial pattern of international propagation of inflation. We model these spatial linkages using global inflation and either domestic slack or oil price fluctuations, motivated by a...
Persistent link: https://www.econbiz.de/10012970177
Cover Image
To Bi, or Not to Bi? Differences in Spillover Estimates from Bilateral and Multilateral Multi-Country Models
Georgiadis, Georgios - 2017
' integration with the rest of the world. First, accuracy worsens as direct bilateral transmission channels become less important … with the rest of the world. Second, accuracy worsens as indirect higher-order spillovers and spillbacks become more … important, for example when the spillover-recipient is more integrated with the rest of the world overall. Empirical evidence on …
Persistent link: https://www.econbiz.de/10012970182
Cover Image
The Global Component of Local Inflation : Revisiting the Empirical Content of the Global Slack Hypothesis with Bayesian Methods
Martínez-García, Enrique - 2017
increasingly more integrated world. The workhorse New Open Economy Macro (NOEM) model of Martínez-García and Wynne (2010), which …
Persistent link: https://www.econbiz.de/10012971240
Cover Image
Global Spillover Effects of Us Uncertainty
Bhattarai, Saroj - 2018
We study spillover effects of US uncertainty fluctuations using panel data from fifteen emerging market economies (EMEs). A US uncertainty shock negatively affects EME stock prices and exchange rates, raises EME country spreads, and leads to capital outflows from them. Moreover, it decreases EME...
Persistent link: https://www.econbiz.de/10012930052
Cover Image
Do Oil Endowment and Productivity Matter for Accumulation of International Reserves?
Fatum, Rasmus - 2017
We develop a dynamic stochastic optimization model with oil price shocks to show that countries with certain combinations of oil endowment and productivity have strong precautionary incentives to accumulate foreign reserves in response to oil price shocks. Using the Simulated Method of Moments...
Persistent link: https://www.econbiz.de/10012966038
Cover Image
Gains from Trade : Does Sectoral Heterogeneity Matter?
Yilmazkuday, Hakan - 2020
This paper assesses the quantitative importance of including sectoral heterogeneity in computing the gains from trade. Our framework draws from Caliendo and Parro (2015) and Alvarez and Lucas (2007) and has sectoral heterogeneity along five dimensions, including the elasticity of trade to trade...
Persistent link: https://www.econbiz.de/10012852066