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Intro -- Contents -- I. INTRODUCTION -- II. DATA -- III. ECONOMETRIC PRELIMINARIES -- IV. "INTERNATIONAL R&D SPILLOVERS" REVISITED -- V. INSTITUTIONS AND INTERNATIONAL R&D SPILLOVERS -- VI. CONCLUSIONS -- APPENDIX A: ALTERNATIVE SPECIFICATION -- APPENDIX B: DATA SOURCES AND DEFINITIONS --...
Persistent link: https://www.econbiz.de/10012682177
cross-border investment. Spillovers from statutory tax rates abroad seem: As sizable as effects from the host's rate; larger … shifting through real investment (rather than 'paper' profit shifting). Contrary to much policy discussion, the results also … imply that: Host countries' marginal effective tax rates have at best a weak effect on real investment; those elsewhere have …
Persistent link: https://www.econbiz.de/10015059218
Following record low interest rates and fast depreciating U.S. dollar, crude oil prices became under rising pressure and seemed boundless. Oil price process parameters changed drastically in 2003M5-2007M10 toward consistently rising prices. Short-term forecasting would imply persistence of...
Persistent link: https://www.econbiz.de/10012677453
High oil prices have once again led to large external surpluses of oil exporting countries, similar to the 1970s and 1980s. This paper analyzes the extent to which (i) oil exporters use bank deposits to invest these surpluses, and (ii) banks are lending on these funds to emerging market...
Persistent link: https://www.econbiz.de/10012677635
world slowdown helped avert the worse, but inflation stayed high in many inflation targeting countries. This …
Persistent link: https://www.econbiz.de/10012677710
-specific macroeconomic and institutional variables, while the direct effect is insignificant. Investment banks appear to be the most affected …
Persistent link: https://www.econbiz.de/10012677890
We employ a set of sign restrictions on the generalized impulse responses of a Global VARmodel, estimated for 38 countries/regions over the period 1979Q2–2011Q2, to discriminatebetween supply-driven and demand-driven oil-price shocks and to study the time profile oftheir macroeconomic effects...
Persistent link: https://www.econbiz.de/10012690166
Intro -- Content -- I. INTRODUCTION -- II. OIL PRICE VOLATILITY -- III. THE DEMAND AND SUPPLY OF CRUDE OIL -- IV. ROLE OF MONETARY POLICY IN THE OIL MARKETS -- V. SOLUTION OF THE SEM -- VI. CONCLUSIONS -- APPENDIX -- REFERENCES.
Persistent link: https://www.econbiz.de/10012690972
We use structural scenario analysis to show that the climate policy mix-supply-side versus demand-side policies-can lead to different oil price paths with diverging distributional consequences in a netzero emissions scenario. When emission reduction is driven by demand-side policies, prices...
Persistent link: https://www.econbiz.de/10015059205
currencies, and weakening financial conditions, recent trends in oil prices might not persist further without triggering world …
Persistent link: https://www.econbiz.de/10014409032