Showing 1 - 10 of 97
All common real effective exchange rate indexes assume trade is only in final goods, despite the growing presence of global supply chains. Extending effective exchange rate indexes to include such intermediate goods can imply radically different effective exchange rate weights, depending on the...
Persistent link: https://www.econbiz.de/10011932479
the relative role of 'globalization' and 'technology' shocks in accounting for the short and long run variance of global …
Persistent link: https://www.econbiz.de/10011711761
The paper provides a general-equilibrium model where incomplete international financial markets lead to insufficient … industrial specialization and low international trade. As international portfolio diversification is limited and productivity is … advantage. Financial globalization then induces more specialization and more trade. The present framework yields explicit closed …
Persistent link: https://www.econbiz.de/10014403975
This paper examines the impact of rising trade and financial integration on international business cycle comovement … wisdom that globalization has increased the degree of synchronization of business cycles. The evidence that trade and …
Persistent link: https://www.econbiz.de/10014404021
arrangements and increased involvement of the international community and the African Diaspora should complement the efforts in …
Persistent link: https://www.econbiz.de/10014402062
debtors. It also examines the factors driving the foreign asset portfolio of international investors, with a special focus on …
Persistent link: https://www.econbiz.de/10014404202
Using a new firm-level dataset on private and listed firms from 20 countries, we document five stylized facts on market power in global markets. First, competition has declined around the world, measured as a moderate increase in average firm markups during 2000- 2015. Second, the markup...
Persistent link: https://www.econbiz.de/10012019850
We examine the extent to which regulations of entry and credit access are related to competition using data on 28 manufacturing sectors across 64 countries. A robust finding is that bureaucratic and costly entry regulations tend to hamper competition, as proxied by the price-cost margin, in the...
Persistent link: https://www.econbiz.de/10011848240
This paper estimates equilibrium dollar wages for 15 transition economies. Equilibrium dollar wages are interpreted as full employment wages consistent with a country’s physical and human capital endowment, and estimated by regressing actual dollar wages on productivity and human capital...
Persistent link: https://www.econbiz.de/10014400527
This paper examines a country''s incentives for intellectual property rights (IPR) protection in a global trading environment. There is a time inconsistency problem intrinsic to IPR protection: ex ante strong protection is warranted to promote innovation, but once discovery takes place there is...
Persistent link: https://www.econbiz.de/10014401239