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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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Does Openness to International Financial Flows Contribute to Productivity Growth?
Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2021
productivity growth. However, while there is a vast empirical literature analyzing the impact of financial openness on output … growth, far less attention has been paid to its effects on productivity growth. This paper provides a comprehensive analysis … of the relationship between financial openness and total factor productivity (TFP) growth using an extensive dataset that …
Persistent link: https://www.econbiz.de/10013325040
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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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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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Experimental Labor Markets and Policy Considerations : Incomplete Contracts and Macroeconomic Aspects
Casoria, Fortuna - 2013
This survey focuses on experimental labor markets investigating two aspects that deem us important for a better understanding of labor market relations and the consequences for labor market policies. The first part of the survey is dedicated to papers that assess the prevalence of reciprocal...
Persistent link: https://www.econbiz.de/10013088665
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The Real Exchange Rate and External Competitiveness in Egypt, Morocco and Tunisia
Brixiova, Zuzana - 2013
Egypt, Morocco and Tunisia face challenges competing on the global markets, as shown by their relatively low and stagnant export shares. The limited export competitiveness has hampered external demand, growth and employment. Applying, for the first time to North Africa, the stock-flow approach...
Persistent link: https://www.econbiz.de/10013071447
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Search and Offshoring in the Presence of 'Animal Spirits'
Mitra, Devashish - 2009
In this paper, we introduce two sources of unemployment in a two-factor general equilibrium model: search frictions and fairness considerations. We find that a binding fair-wage constraint increases the unskilled unemployment rate and can at the same time lead to a higher unemployment rate for...
Persistent link: https://www.econbiz.de/10013160302
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Firm Dynamics and Real Exchange Rate Fluctuations : Does Trade Openness Matter? Evidence from Mexico’s Manufacturing Sector
Fuentes, Miguel - 2009
In this paper we study the effect of NAFTA on the responsiveness of Mexican economy to real exchange rate shocks. We argue that, by opening the U.S. and Canadian markets to Mexican goods, NAFTA made it easier for domestic producers to take advantage of the opportunities brought by the...
Persistent link: https://www.econbiz.de/10013155309
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Employment and Exchange Rates : The Role of Openness and Technology
Alexandre, Fernando - 2009
Real exchange rate movements are important drivers of the reallocation of resources between sectors of the economy. Economic theory suggests that the impact of exchange rates should vary with the degree of exposure to international competition and with the technology level. This paper...
Persistent link: https://www.econbiz.de/10013159338
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Deriving the New Quantity Equation : An Approach for a Closed and an Open Economy
Welfens, Paul J.J. - 2014
This theoretical contribution shows a simple way in which the quantity equation can be derived as a long-term equilibrium solution for the case of a closed economy and an open economy, respectively. It is shown first for the case of a closed economy which parameters stand behind "velocity" and...
Persistent link: https://www.econbiz.de/10013047874