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We study e-commerce across 47 economies and 26 industries during the COVID-19 pandemic using aggregated and anonymized transaction-level data from Mastercard, scaled to represent total consumer spending. The share of online transactions in total consumption increased more in economies with...
Persistent link: https://www.econbiz.de/10013295138
This paper assesses the dynamic pass-through of crude oil price shocks to retail fuel prices using a novel database on … crude oil prices per liter translates into a 1.2 cent increase in the retail gasoline price at peak level six months after … to two cents in advanced economies. The results also show that positive oil price shocks have a larger impact than …
Persistent link: https://www.econbiz.de/10012962161
The paper concludes that world copper prices play an important role in short-term fluctuations and probably influence … copper price boom, the higher copper price and associated capital inflows create upward pressure on the real exchange rate …
Persistent link: https://www.econbiz.de/10013321367
Over the past three decades, the price of machinery and equipment fell dramatically relative to other prices in … relative price of tangible tradable capital goods provided a significant impetus to the capital deepening that took place … during the same time period. The broad-based decline in the relative price of machinery and equipment, in turn, was driven by …
Persistent link: https://www.econbiz.de/10012866217
The COVID-19 pandemic could result in large government interventions in the banking industry. To shed light on the possible consequences on market power, we rely on the experience of the global financial crisis and exploit granular data on government interventions in more than 800 banks across...
Persistent link: https://www.econbiz.de/10013250086
Central bank digital currencies (CBDCs) promise many benefits but, if not well designed, they could have undesired consequences, including for monetary policy. Issuing an unremunerated CBDC or a wholesale CBDC does not change the objectives of monetary policy or the operational framework for...
Persistent link: https://www.econbiz.de/10014355809
since declined, contributing negatively to world trade in 2019 and suggesting that the global market may now be saturated …
Persistent link: https://www.econbiz.de/10012829702
The paper explores how international integration through global value chains shapes the working of exchange rates to induce external adjustment both in the short and medium run. The analysis indicates that greater integration into international value chains reduces the exchange rate elasticity...
Persistent link: https://www.econbiz.de/10012843296
competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are … also associated with a larger average firm size. Conversely, credit information registries are associated with lower price …
Persistent link: https://www.econbiz.de/10012918554
Financial 'euroization'-or 'dollarization' outside of Central and Eastern Europe-is typically analyzed as a singular phenomenon that can be traced to a common set of factors. This paper argues that two types of euroization need to be distinguished, which have different causes, economic...
Persistent link: https://www.econbiz.de/10012922625