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Hirata, Hideaki - 2013

Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the...

Persistent link: https://www.econbiz.de/10013086323

Trade Linkages and International Business Cycle Comovement : Evidence from Korean Industry Data

Lee, Dongyeol - 2019

. Furthermore, the decomposition of aggregate BC comovement shows that the increase in trade with China has contributed the most to …

Persistent link: https://www.econbiz.de/10012868264

China : Sources of Real Exchange Rate Fluctuations

Wang, Tao - 2006

This paper reviews the evolution of China`s real effective exchange rate between 1980 and 2002, and uses a structural …

Persistent link: https://www.econbiz.de/10012783233

Economic Fluctuations in Sub-Saharan Africa

Melina, Giovanni - 2019

We compare business cycle fluctuations in Sub-Saharan African (SSA) countries vis-à-vis the rest of the world. Our main results are as follows: (i) African economies stand out by their macroeconomic volatility, which is is reflected in the volatility of output and other macro variables; (ii)...

Persistent link: https://www.econbiz.de/10012864121

Intra-Regional Spillovers in South America : Is Brazil Systemic after All?

Moreno Badia, Marialuz - 2015

Shocks stemming from Brazil - the large neighbor in South America - have historically been a source of concern for policy-makers in other countries of the region. This paper studies the importance of Brazil's influence on its neighboring economies, documenting trade linkages over the last two...

Persistent link: https://www.econbiz.de/10013037155

Mind the Gap : What is the Best Measure of Slack in the Euro Area?

Ubide, Angel J. - 2021

Assessing the magnitude of the output gap is critical to achieving an optimal policy mix. Unfortunately, the gap is an unobservable variable, which, in practice, has been estimated in a variety of ways, depending on the preferences of the modeler. This model selection problem leads to a...

Persistent link: https://www.econbiz.de/10013211944

Japan's Foreign Assets and Liabilities : Implications for the External Accounts

Colacelli, Mariana; Gautam, Deepali; Rebillard, Cyril - 2021

The composition of Japan's current account balance has changed over time, with an increasing income balance primarily … reflecting a growing net foreign asset position and higher corporate saving. A comparison of Japan's income balance with peer … countries highlights: (i) relatively high yields on FDI assets, and (ii) very low FDI liabilities in Japan. Panel estimation is …

Persistent link: https://www.econbiz.de/10013243059

Deciding to Enter a Monetary Union : Therole of Trade and Financial Linkages

Lama, Ruy - 2012

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from joining the euro. We evaluate two alternative scenarios....

Persistent link: https://www.econbiz.de/10013098569

Policy and Spillover Analysis in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

This paper develops a structural macroeconometric model of the world economy, disaggregated into forty national economies. This panel dynamic stochastic general equilibrium model features a range of nominal and real rigidities, extensive macrofinancial linkages, and diverse spillover...

Persistent link: https://www.econbiz.de/10013040410

Policy Analysis and Forecasting in the World Economy : A Panel Dynamic Stochastic General Equilibrium Approach

Vitek, Francis - 2014

This paper develops a structural macroeconometric model of the world economy, disaggregated into thirty five national economies. This panel unobserved components model encompasses an approximate linear panel dynamic stochastic general equilibrium model featuring a monetary transmission...

Persistent link: https://www.econbiz.de/10013060545

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