This paper develops a gravity model framework to estimate the impact of infectious diseases on bilateral tourism flows … among 38,184 pairs of countries over the period 1995-2017. The results confirm that international tourism is adversely … affected by disease risk, and the magnitude of this negative effect is statistically and economically significant. In the case …

This paper estimates an empirical nonstationary panel regression model that tests long-run consumption risk sharing … risk sharing, which is mainly about risks at business cycle frequency. Since our methodology focuses on identifying … cointegrating relationships while allowing for arbitrary short-run dynamics, we can obtain a consistent estimate of long-run risk …

This paper assesses liquidity risk for the United States (U.S.) bond mutual funds industry and performs a range of … Distress'. Overall, most U.S. mutual funds are resilient yet high yield (HY) and loan funds would face a liquidity shortfall …

-identification of the U.S. oil supply shock is achieved through imposing dynamic sign restrictions on the impulse responses of the model …. The results show that there are considerable heterogeneities in the responses of different countries to a U.S. supply … suggest that following the U.S. oil revolution, with oil prices falling by 51 percent in the first year, global growth …

The 2008 crisis underscored the interconnectedness of the international business cycle, with U.S. shocks leading to the … business cycle is largely driven by U.S. financial shocks with a significant impact from global shocks, mainly reflecting …

We estimate international technology spillovers to U.S. manufacturing firms via imports and foreign direct investment … productivity growth in U.S. firms between 1987 and 1996. In addition, there is some evidence for import-related spillovers, but it …

(LICs). We apply two panel estimation techniques: fixed effects (FE) and common correlated effects pooled mean group (CCEPMG …

While the world's attention is on dealing with the COVID-19 pandemic, climate change remains a greater existential … threat to vulnerable countries that are highly dependent on a weather-sensitive sector like tourism. Using a novel … multidimensional index, this study investigates the long-term impact of climate change vulnerability on international tourism in a …