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The Renminbi's Role in the Global Monetary System

Prasad, Eswar S. - 2012

We analyze three related but distinct concepts concerning the renminbi's role in the global monetary system: (i) "internationalization" of the currency; (ii) currency convertibility; and (iii) reserve currency status. Their sequencing in relation to other policy goals such as financial sector...

Persistent link: https://www.econbiz.de/10013110844

Democratization and civil liberties : the role of violence during the transition

Cervellati, Matteo; Fortunato, Piergiuseppe; Sunde, Uwe - 2011

This paper investigates the role of violent civil conflicts during the process of democratization for the quality of emerging democracies, and in particular, the protection of civil (political and economic) liberties. A simple theory in which different groups may engage in violent conflict in...

Persistent link: https://www.econbiz.de/10009124075

Asabiyya : Re-Interpreting Value Change in Globalized Societies

Heshmati, Almas; Tausch, Arno - 2009

. The World Values Survey provided a data framework of global value change, whose quantitative results led members of the … parcel of a larger set of traditional values. With the free available country-wide data from the World Values Survey, we re …/Welzel, 2003, 2003. A frequently asked question is whether “modernization” without “spiritual values” in a globalized world economy …

Persistent link: https://www.econbiz.de/10014203179

Temperature and Joint Time Use

Cosaert, Sam; Nieto, Adrián; Tatsiramos, Konstantinos - 2023

We combine exogenous variation in temperature at the county-day level in the U.S. with daily time use data to examine the effect of temperature on joint time use. We show that low temperatures reduce time spent with friends but increase time spent with family. Conversely, high temperatures...

Persistent link: https://www.econbiz.de/10014348455

Precious Metal Prices : A Tale of Four U.S. Recessions

Agnese, Pablo; Garcia-del-Barrio, Pedro; Gil-Alana, Luis A. - 2023

This paper empirically examines the degree of persistence in four precious metal prices (i.e., gold, palladium, platinum, and silver) during the last four U.S. recessions. Unit root tests and fractional integration techniques suggest that gold still is the most prominent safe haven asset within...

Persistent link: https://www.econbiz.de/10014351417

Minimum Global Tax : Winners and Losers in the Race for Mergers and Acquisitions

Amendolagine, Vito; Bruno, Randolph Luca; Cipollina, Maria - 2023

This study aims to quantify the impact of the global minimum corporate tax rate a pillar of the OECD's reform of international taxation on cross-border mergers and acquisitions (M&A) involving large multinational enterprises (MNEs). First, the influence of differences in capital taxation on...

Persistent link: https://www.econbiz.de/10014354666

Globalization, Productivity Growth, and Labor Compensation

Dreger, Christian; Fourné, Marius; Holtemöller, Oliver - 2023

We analyse how changes in international trade integration affect productivity and the functional income distribution. To account for endogeneity, we construct a leave-out measure for international trade integration for country-industry pairs using international input-output tables. First, we...

Persistent link: https://www.econbiz.de/10014355913

A Dual Policy Paradox : Why Have Trade and Immigration Policies Always Differed in Labor-Scarce Economies?

Hatton, Timothy J. - 2013

Today's labor-scarce economies have open trade and closed immigration policies, while a century ago they had just the opposite, open immigration and closed trade policies. Why the inverse policy correlation, and why has it persisted for almost two centuries? This paper seeks answers to this dual...

Persistent link: https://www.econbiz.de/10012754289

Entrepreneurial Entry : Which Institutions Matter?

Aidis, Ruta - 2009

In this paper we explore the relationship between the individual decision to become an entrepreneur and the institutional context. We pinpoint the critical roles of property rights and the size of the state sector for entrepreneurial activity and test the relationships empirically by combining...

Persistent link: https://www.econbiz.de/10012763926

The Last Refuge of a Scoundrel? Patriotism and Tax Compliance

Konrad, Kai A. - 2009

We study the effects of patriotism on tax compliance. In particular, we assume that individuals feel a (random draw of) warm glow from honestly paying their taxes. A higher expected warm glow reduces the government's optimal audit probability and yields higher tax compliance. Second, individuals...

Persistent link: https://www.econbiz.de/10012763928

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