Showing 1 - 10 of 677
We use two alternative representations of the yield curve to test the functioning of the interest rate transmission mechanism along the yield curve based on government paper in a sample of emerging market and low-income countries. We find a robust link from shortterm policy and interbank rates...
Persistent link: https://www.econbiz.de/10012999762
A striking feature of sovereign lending is that many countries with moderate debt-to-income ratios systematically face higher spreads and more stringent borrowing constraints than others with far higher debt ratios. Earlier research has rationalized the phenomenon in terms of sovereign...
Persistent link: https://www.econbiz.de/10012783212
This paper develops a gravity model framework to estimate the impact of infectious diseases on bilateral tourism flows … among 38,184 pairs of countries over the period 1995-2017. The results confirm that international tourism is adversely … tourism flows to advanced economies, the magnitude and statistical significance of the impact of infectious diseases are much …
Persistent link: https://www.econbiz.de/10012827591
Tourism was one of the fastest-growing sectors before the COVID-19 pandemic, accounting for about 10 percent of global … countries where the carbon footprint of tourism constitute substantial share of carbon dioxide (CO2) emissions. This study … empirically investigates the impact of tourism on CO2 emissions in a relatively homogenous panel of 15 Caribbean countries over …
Persistent link: https://www.econbiz.de/10014076818
The paper estimates the impact of macroeconomic supply- and demand-side determinants of tourism, one of the largest … dataset comprising the full universe of bilateral tourism flows spanning over a decade. The results show that the gravity … model explains tourism flows better than goods trade for equivalent specifications. The elasticity of tourism with respect …
Persistent link: https://www.econbiz.de/10013053035
We estimate a variety of exchange rate elasticities of international tourism. We show that, in addition to the … bilateral exchange rate between the tourism origin and destination countries, the exchange rate vis-à-vis the US dollar is also … an important driver of tourism flows and pricing. The effect of US dollar pricing is stronger for tourism destination …
Persistent link: https://www.econbiz.de/10013295114
While the world's attention is on dealing with the COVID-19 pandemic, climate change remains a greater existential … threat to vulnerable countries that are highly dependent on a weather-sensitive sector like tourism. Using a novel … multidimensional index, this study investigates the long-term impact of climate change vulnerability on international tourism in a …
Persistent link: https://www.econbiz.de/10013252040
The paper discusses the effectiveness of independent fiscal institutions -- or fiscal councils -- in taming the deficit bias that emerged in the 1970s. After a review of the main theoretical arguments and recent trends about fiscal councils, we develop a stylized model showing how a fiscal...
Persistent link: https://www.econbiz.de/10012977753
This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms...
Persistent link: https://www.econbiz.de/10012977841
attracted increasing interest from the international community with the G-20, IMF, and World Bank Group assuming an active role …
Persistent link: https://www.econbiz.de/10013057310