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International migration is an important channel of material improvement for individuals and their offspring. The movement of people across country borders, especially from less developed to richer countries, has a substantial impact in several dimensions. First, it affects the migrants...
Persistent link: https://www.econbiz.de/10012518988
This paper sheds new light on the degree of international fiscal-financial spillovers by investigating the effect of domestic fiscal policies on cross-border bank lending. By estimating the dynamic response of U.S. cross-border bank lending towards the 45 recipient countries to exogenous...
Persistent link: https://www.econbiz.de/10012102123
We explore the extent to which macroeconomic policies, structural policies, and institutions can mitigate the negative relationship between temperature shocks and output in countries with warm climates. Empirical evidence and simulations of a dynamic general equilibrium model reveal that good...
Persistent link: https://www.econbiz.de/10012103566
sector development acts as a shock-absorber in poor countries, dampening the transmission of terms of trade shocks to growth … volatility. Expanding the sample to 121 developing countries confirms this result, although this role of shock-absorber fades … away as economies grow richer. Stock market development, by contrast, appears neither to be a shock-absorber nor a shock …
Persistent link: https://www.econbiz.de/10012009977
notion that interconnected financial systems facilitate shock transmission …
Persistent link: https://www.econbiz.de/10011705705
Global merchandise trade expanded rapidly over the last 6 1\2 decades and its relationship with global income has seen ebbs and flows. This paper examines the shifts in this relationship using time series data over 1950-2014 and situates it in the current and longer term context. The...
Persistent link: https://www.econbiz.de/10011711761
We study the impact of fluctuations in global oil prices on domestic inflation using an unbalanced panel of 72 advanced and developing economies over the period from 1970 to 2015. We find that a 10 percent increase in global oil inflation increases, on average, domestic inflation by about 0.4...
Persistent link: https://www.econbiz.de/10011742791
Persistent link: https://www.econbiz.de/10009726428
, however, appears very modest and not evident during the 2008 food price shock.The evidence suggests that trade openness …
Persistent link: https://www.econbiz.de/10014412153
This paper examines the relationship between monetary policy and oil prices within a world oil demand and supply model … rates is a two-way relationship that depends on the type of oil shock. During a supply shock, rising oil prices caused … interest rates to increase; whereas during a demand shock, falling interest rates caused oil prices to rise. Record low …
Persistent link: https://www.econbiz.de/10014400520