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Aggregate Savings and External Imbalances in China
Yang, Dennis Tao - 2012
Over the last decade, the internal and external macroeconomic imbalances in China have risen to unprecedented levels …. In 2008, China's national savings rate soared to over 53 percent of its GDP, whereas its current account surplus exceeded …, the accession of China to the World Trade Organization has dramatically amplified the effects of these structural …
Persistent link: https://www.econbiz.de/10013098458
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China's High Saving Puzzle
Ma, Guonan - 2013
jointly contributed to the upsurge in aggregate savings in China in the past two decades. Government policies to rebalance the …
Persistent link: https://www.econbiz.de/10013086223
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Manufacturing Employment and Exchange Rates in the Portuguese Economy : The Role of Openness, Technology and Labour Market Rigidity
Alexandre, Fernando - 2010
In this paper, we explore empirically the role of openness, technology and labour market rigidity in the determination of the effect of the exchange rate on employment in Portugal. We develop an index that allows us to measure labour market flexibility at the sector level. This index shows that...
Persistent link: https://www.econbiz.de/10013136773
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Employment, Exchange Rates and Labour Market Rigidity
Alexandre, Fernando - 2010
There is increasing evidence that the interaction between shocks and labour market institutions is crucial to understanding the dynamics of employment. In this paper, we show that the inclusion of labour adjustment costs in a trade model affects the impact of exchange rate movements on...
Persistent link: https://www.econbiz.de/10013144390
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Are Entrepreneurs Aware of Covered Interest Parity and Dollar Shortage?
Nariman, Farhad; Heshmati, Almas - 2022
The purpose of this study is demonstrating why entrepreneurs should monitor the broad dollar index. This paper explains the reason why the broad dollar index has become a risk (leverage) gauge since 2008 using the Covered Interest Parity (CIP). CIP can be viewed as a reflection of the shadow...
Persistent link: https://www.econbiz.de/10013406442
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Asymmetric Labor Market Institutions in the Emu and the Volatility of Inflation and Unemployment Differentials
Abbritti, Mirko - 2012
How does the asymmetry of labor market institutions affect the adjustment of a currency union to shocks? To answer this question, this paper sets up a dynamic currency union model with monopolistic competition and sticky prices, hiring frictions and real wage rigidities. In our analysis, we...
Persistent link: https://www.econbiz.de/10013107467
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How Do Trade and Financial Integration Affect the Relationship between Growth and Volatility
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2021
The influential work of Ramey and Ramey (1995) highlighted an empirical relationship that has now come to be regarded as conventional wisdom - that output volatility and growth are negatively correlated. We reexamine this relationship in the context of globalization - a term typically used to...
Persistent link: https://www.econbiz.de/10013318610
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Cross-Country Connectedness in Inflation and Unemployment : Measurement and Macroeconomic Consequences
Pham, Binh Thai; Sala, Hector - 2021
We bring the notion of connectedness (Diebold and Yilmaz, 2012) to a set of two critical macroeconomic variables as inflation and unemployment. We focus on the G7 economies plus Spain, and use monthly data –high-frequency data in a macro setting– to explore the extent and consequences of...
Persistent link: https://www.econbiz.de/10013236402
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Enlarging the EMU to the East : What Effects on Trade?
Belke, Ansgar Hubertus; Spies, Julia - 2021
The purpose of this paper is to assess the implications of the Economic and Monetary Union (EMU) accession of eight Central and Eastern European Countries (CEECs) on their share in EMU-12 imports. Overcoming biases related to endogeneity, omitted variables and sample selection, our results...
Persistent link: https://www.econbiz.de/10013325027
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Labor Market Reforms and Current Account Imbalances : Beggar-Thy-Neighbor Policies in a Currency Union?
Baas, Timo - 2014
Member countries of the European Monetary Union (EMU) initiated wide-ranging labor market reforms in the last decade. This process is ongoing as countries that are faced with serious labor market imbalances perceive reforms as the fastest way to restore competitiveness within a currency union....
Persistent link: https://www.econbiz.de/10013046659