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We estimate the macroeconomic effects of import tariffs and trade policy uncertainty in the United States, combining theory-consistent and narrative sign restrictions in Bayesian SVARs. We find mostly adverse consequences of protectionism, in aggregate and across sectors and regions. Tariff...
Persistent link: https://www.econbiz.de/10015058747
This paper examines the mechanisms through which output volatility is related to trade openness using an industry-level panel dataset of manufacturing production and trade. The main results are threefold. First, sectors more open to international trade are more volatile. Second, trade is...
Persistent link: https://www.econbiz.de/10012677612
context of globalization-a term typically used to describe the phenomenon of growing international trade and financial …
Persistent link: https://www.econbiz.de/10005825974
This Working Paper brings together three papers prepared as background for discussions at the Second High-Level Conference on Asian Integration cohosted by the Monetary Authority of Singapore and the IMF on May 25, 2006. The first documents recent trends in the intraregional flow of goods and...
Persistent link: https://www.econbiz.de/10005826187
This paper provides a general equilibrium analysis of the trade effects of the formation of a currency union, and of its subsequent enlargement to include an economically dissimilar country. Furthermore, it investigates how economic dissimilarities among countries affect the magnitude of the...
Persistent link: https://www.econbiz.de/10005604779
. SOURCES OF BUSINESS CYCLE FLUCTUATIONS: 1960-2005 -- V. GLOBALIZATION AND THE EVOLUTION OF INTERNATIONAL BUSINESS CYCLES -- VI …
Persistent link: https://www.econbiz.de/10012682176
This paper analyzes spillovers from macroeconomic shocks in systemic economies (China, the Euro Area, and the United States) to the Middle East and North Africa (MENA) region as well as outward spillovers from a GDP shock in the Gulf Cooperation Council (GCC) countries and MENA oil exporters to...
Persistent link: https://www.econbiz.de/10012690165
between financial globalization and corporate tax rates and revenues—results vary according to country grouping with OECD …. Financial Globalization, Political Economy Factors, and Corporate Tax Rates -- A. Open Economy Macroeconomics -- B …. Globalization and Strategic Considerations -- C. Diffusion of Ideas -- IV. Hypotheses -- V. Data and Measures, and Methodology -- VI …
Persistent link: https://www.econbiz.de/10012690167
This paper explores the concept of global liquidity, its measurement and macro-financial importance. We construct two sets of indicators for global liquidity: a quantity series distinguishing between core and noncore liabilities of financial intermediatires and a corresponding price series....
Persistent link: https://www.econbiz.de/10012690169
Although cross-border bank lending has fallen sharply since the crisis, extending our bank ownershipdatabase from 1995-2009 up to 2013 shows only limited retrenchment in foreign bank presence. Whilebanks from OECD countries reduced their foreign presence (but still represent 89% of foreign bank...
Persistent link: https://www.econbiz.de/10012690528