Showing 1 - 10 of 45
finance literature has in some respects not kept pace with world trends. Most empirical studies fail to take due account of … the diversity of assets offered by countries around the world, the diversity of locales in which investors live, and the …
Persistent link: https://www.econbiz.de/10012474350
What is the effect of trade on a country's environment, for a given level of GDP? Some have observed an apparent positive correlation between openness to trade and measures of environmental quality. But this could be due to endogeneity of trade, rather than causality. This paper uses exogenous...
Persistent link: https://www.econbiz.de/10012469508
Gravity-based cross-sectional evidence indicates that currency unions stimulate trade; cross-sectional evidence indicates that trade stimulates output. This paper estimates the effect that currency union has, via trade, on output per capita. We use economic and geographic data for over 200...
Persistent link: https://www.econbiz.de/10012470886
-financial globalization. Both country- and industry-level resultssuggest that such policies have led on average to limited output gains while …
Persistent link: https://www.econbiz.de/10012918557
Housing cycles and their impact on the financial system and the macroeconomy have become the center of attention following the global financial crisis. This paper documents the characteristics of housing cycles in a large set of countries, and examines the determinants of house price movements....
Persistent link: https://www.econbiz.de/10013036333
Fears that globalization necessarily hurts the environment are not well-founded. A survey reveals little statistical …
Persistent link: https://www.econbiz.de/10012468604
Globalization of trade and finance has gone a long way over the last half-century. But it is less impressive than most … international integration. The paper documents the extent of globalization, and some reasons for the barriers that remains. It then … environment. The conclusion is that globalization is not the primary obstacle to efforts to address such concerns …
Persistent link: https://www.econbiz.de/10012470885
This paper examines the distributional impact of capital account liberalization. Using panel data for 149 countries from 1970 to 2010, we find that, on average, capital account liberalization reforms increase inequality and reduce the labor share of income in the short and medium term. We also...
Persistent link: https://www.econbiz.de/10012999758
A country's suitability for entry into a currency union depends on a number of economic conditions. These include, inter alia, the intensity of trade with other potential members of the currency union, and the extent to which domestic business cycles are correlated with those of the other...
Persistent link: https://www.econbiz.de/10012473138
of return from rising significantly above the world rate of return. This view has been challenged recently by the …
Persistent link: https://www.econbiz.de/10012477303