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Real Exchange Rates and Commodity Prices
Dupont, Dominique Yves - 1996
multi-country model, with world market clearing, which incorporates speculative and non-speculative demands for inventories … matters, and that supply and demand elasticities are important in determining the commodity price in world markets above and … beyond the size of the share of those commodities in world trade …
Persistent link: https://www.econbiz.de/10014398636
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A Latent Factor Model with Global, Country, and Industry Shocks for International Stock Returns
Del Negro, Marco - 2005
, both in- and out-of-sample. The shock exposures are thus a stock-selection device for international portfolio …
Persistent link: https://www.econbiz.de/10014400963
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The Response of the Current Account to Terms of Trade Shocks : Persistence Matters
Cashin, Paul - 2003
that the greater (lesser) the persistence of the terms of trade shock, the more (less) the investment effect dominates the … shock …
Persistent link: https://www.econbiz.de/10014401279
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Real Exchange Rate Levels, Productivity and Demand Shocks : Evidence From a Panel of 14 Countries
Johnston, Louis Dorrance - 1997
We investigate the long-run relationship between the real exchange rate, traded and nontraded productivity levels, and government spending for 14 OECD countries, using recently developed panel cointegration tests. The results indicate that under certain assumptions it is easier to detect...
Persistent link: https://www.econbiz.de/10014401799
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Cointegration of International Stock Market Indices
Chou, Ray Yeu-Tien - 1994
In this paper, we derive evidence on the integration of international stock markets from the cointegration properties of international stock market prices. Using the multivariate cointegration test of Johansen, we find that the set of six country stock price indices, including that of the United...
Persistent link: https://www.econbiz.de/10014395829
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Transitory and permanent shocks in the global market for crude oil
Rebei, Nooman; Sbia, Rashid - 2020
This paper documents the determinants of real oil price in the global market based on SVAR model embedding transitory and permanent shocks on oil demand and supply as well as speculative disturbances. We find evidence of significant differences in the propagation mechanisms of transitory versus...
Persistent link: https://www.econbiz.de/10012251290
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International fiscal-financial spillovers : the effect of fiscal shocks on cross-border bank lending
Choi, Sangyup; Furceri, Davide; Yoon, Chansik - 2019
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
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Growth Dynamics : The Myth of Economic Recovery
Saxena, Sweta Chaman - 2005
Using panel data for a large number of countries, we find that economic contractions are not followed by offsetting fast recoveries. Trend output lost is not regained, on average. Wars, crises, and other negative shocks lead to absolute divergence and lower long-run growth, whereas we find...
Persistent link: https://www.econbiz.de/10014400694
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Financial crises, macroeconomic shocks, and the government balance sheet : a panel analysis
Ruzzante, Matteo - 2018
banking crises experienced an 'artificial' increase of their asset position through bank bailouts. Macroeconomic shock …
Persistent link: https://www.econbiz.de/10011852541
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Wage Flexibility and Economic Performance : Evidence Across Industrial Countries
Kandil, Magda E. - 2000
This paper provides new empirical evidence on the degree of nominal wage flexibility in a sample of nineteen industrial countries. Across countries, aggregate uncertainty increases the degree of wage flexibility in the face of various shocks. Wage flexibility stabilizes fluctuations in real...
Persistent link: https://www.econbiz.de/10014399867