Showing 1 - 10 of 1,424
We consider how fear of model misspecification on the part of the planner and/or the households affects welfare gains from optimal macroprudential taxes in an economy with occasionally binding collateral constraints as in Bianchi (2011). On the one hand, there exist welfare gains from...
Persistent link: https://www.econbiz.de/10012518751
The performance of macroeconomic indicators of capital mobility is examined in the context of an intertemporal equilibrium model of a small open economy. Recursive numerical solution methods are used to compute measures of consumption smoothing, savings-investment correlation, and the...
Persistent link: https://www.econbiz.de/10014397965
Against the backdrop of the rise of global value chains (GVCs), particularly in Asia, this paper documents key developments of GVCs and investigates what factors cause economies to reap greater benefits from GVC participation. Key findings include: first, moving toward a more upstream position...
Persistent link: https://www.econbiz.de/10011373981
Anecdotal evidence suggests the existence of specific choke points in the global trade network revealed especially … basket and to propose effective mitigation policies. First, using network analysis tools we develop a methodology for …
Persistent link: https://www.econbiz.de/10011716572
This paper proposes a network model of multilaterally equilibrium exchange rates. The model introduces a topological … currencies. The paper defines the currency demand indicator. On its base, it derives a multilateral exchange rate network, finds …
Persistent link: https://www.econbiz.de/10011711598
historical estimates, together with the network structure of global production, to quantify the spillovers from the economic …
Persistent link: https://www.econbiz.de/10012605501
We show that domestic production networks shape worker flows between firms. Data on the universe of firm-to-firm transactions for the Dominican Republic, matched with employer-employee records, reveals that about 20 percent of workers who change firms move to a buyer or supplier of their...
Persistent link: https://www.econbiz.de/10012391964
explicitly takes into account the crisis state of the world. This allows us to model the network formation decision as optimising …
Persistent link: https://www.econbiz.de/10011715336
This paper computes data-driven correlation networks based on the stock returns of international banks and conducts a comprehensive analysis of their topological properties. We first apply spatial-dependence methods to filter the effects of strong common factors and a thresholding procedure to...
Persistent link: https://www.econbiz.de/10011715363
multilayer network framework is applied to link debt and equity exposures across countries. Use of this approach-that examines … of financial contagion.The structure of the global financial network has changed since the global financial crisis … and contagion remain similar in that network is highly susceptible to shocks from central countries and those with large …
Persistent link: https://www.econbiz.de/10011852664