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Redistribution policy and inequality reduction in OECD countries: What has changed in two decades?
Immervoll, Herwig; Richardson, Linda - 2011
We use a range of data sources to assess if, and to what extent, government redistribution policies have slowed or accelerated the trend towards greater income disparities in the past 20-25 years. In most countries, inequality among non-elderly households has widened during most phases of the...
Persistent link: https://www.econbiz.de/10010282592
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Private information, human capital, and optimal 'home bias' in financial markets
Ehrlich, Isaac; Shin, Jong Kook; Yin, Yong - 2011
By allowing for imperfectly informed markets and the role of private information, we offer new insights about observed deviations of portfolio concentrations in domestic relative to foreign risky assets, or home bias, from what standard finance models predict. Our model ascribes the bias to...
Persistent link: https://www.econbiz.de/10010286893
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Exchange Rate Volatility Effects on the German Labour Market: A Survey of Recent Results and Extensions
Buscher, Herbert S.; Mueller, Claudia - 1999
In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analysed using three different volatility measures and four country groups. In...
Persistent link: https://www.econbiz.de/10010262270
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The finnish great depression: from Russia with love
Gorodnichenko, Yuriy; Mendoza, Enrique G.; Tesar, Linda L. - 2009
During the period 1991-93, Finland experienced the deepest economic downturn in an industrialized country since the 1930s. We argue that the culprit behind this Great Depression was the collapse of Finnish trade with the Soviet Union, because it induced a costly restructuring of the...
Persistent link: https://www.econbiz.de/10010268947
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...
Persistent link: https://www.econbiz.de/10010267287
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China's emergence in the world economy and business cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2011
world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …. The evidence reported also suggests that the emergence of China as an important source of world growth might be the driver …
Persistent link: https://www.econbiz.de/10010278334
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China's Emergence in the World Economy and Business Cycles in Latin America
Cesa-Bianchi, Ambrogio; Pesaran, Hashem; Rebucci, Alessandro - Institute for the Study of Labor (IZA) - 2011
world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China’s economic growth in the future for both Latin America and the rest of the world economy …. The evidence reported also suggests that the emergence of China as an important source of world growth might be the driver …
Persistent link: https://www.econbiz.de/10009225765
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Identifying the Common Component of International Economic Fluctuations: A New Approach
Lumsdaine, Robin L.; Prasad, Eswar S. - 2002
common component, we find evidence for a ?world business cycle? as well as evidence for a distinct European common component …
Persistent link: https://www.econbiz.de/10010262765
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Crises, what crises?
Campos, Nauro F.; Hsiao, Cheng; Nugent, Jeffrey B. - 2006
Recent research convincingly shows that crises beget reform. Although the consensus is that economic crises foster macroeconomic stabilization, it is silent on which types of crises cause which types of reform. Is it economic or political crises that are the most important drivers of structural...
Persistent link: https://www.econbiz.de/10010267978
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How Does Globalization Affect the Synchronization of Business Cycles?
Kose, M. Ayhan; Prasad, Eswar; Terrones, Marco E. - 2003
This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of...
Persistent link: https://www.econbiz.de/10010276292