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We develop a new dynamic factor model that allows us to jointly characterize global macroeconomic and financial cycles and the spillovers between them. The model decomposes macroeconomic cycles into the part driven by global and country-specific macro factors and the part driven by spillovers...
Persistent link: https://www.econbiz.de/10012840446
The financial crisis has re-ignited the fierce debate about the merits of financial globalization and its implications …
Persistent link: https://www.econbiz.de/10013160313
I document that emerging markets have cast off their "original sin" – their external liabilities are no longer dominated by foreign-currency debt and have instead shifted sharply towards direct investment and portfolio equity. Their external assets are increasingly concentrated in foreign...
Persistent link: https://www.econbiz.de/10013119287
. 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
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
status of women. Although historically globalization is not generally linked to the advancement of women, several recent …
Persistent link: https://www.econbiz.de/10012714596
globalization renders this question extremely topical. Yet, most previous work has looked for political effects of aggregate trade …
Persistent link: https://www.econbiz.de/10012839064
for global inequality. We develop and parameterize a two-sector, two-class, world economy model that endogenizes education … in the world distribution of skills, slow-growing urbanization in developing countries and a rebound in income inequality …
Persistent link: https://www.econbiz.de/10012910758
rates. Using the World Input-Output Database (WIOD) we employ the proposed indicators to shed new light on changes in cost … competitiveness at the sectoral level for Germany, and compare the empirical evidence with selected other euro area countries …
Persistent link: https://www.econbiz.de/10012919512
-skill occupations. We estimate the determinants of workers' RTI as a function of technology (computer use), globalization …. Globalization (as measured by sector foreign value-added share) increases RTI in poorer countries but reduces RTI in richer … globalization also important. Technology contributes the most to the differences in RTI among workers in high-skilled occupations …
Persistent link: https://www.econbiz.de/10012870142