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Military Expenditure, Threats, and Growth
Aizenman, Joshua; Glick, Reuven - 2021
threats, corruption, and other relevant controls. While growth falls with higher levels of military spending, given the values …
Persistent link: https://www.econbiz.de/10013233439
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Macroeconomic Adjustment and the History of Crises in Open Economies
Aizenman, Joshua - 2012
This paper investigates the impact of the history of crises on macroeconomic performance. We first study the impact of past banking crises on the probability of a future banking crisis. Applying data for 1980‐2010 for all countries for which the required information is available, controlling...
Persistent link: https://www.econbiz.de/10013098139
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Tests of CAPM on an International Portfolio of Bonds and Stocks
Engel, Charles - 2021
This paper estimates and tests an international version of the Capital Asset Pricing Model. Investors from the U.S., Germany and Japan choose a portfolio that includes bonds and equities from each of these countries to maximize a function of the mean and variance of returns. Investors in each...
Persistent link: https://www.econbiz.de/10013218322
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Tariff Liberalization Policy and Financial Restrictions
Aizenman, Joshua - 2021
The purpose of this paper is to assess how restrictions on capital mobility affect adjustment to a tariff liberalization policy. This is done by comparing the adlustment process under free and restricted convertibility of foreign assets in a regime where the commercial exchange rate is pegged....
Persistent link: https://www.econbiz.de/10013224884
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A Series of Unfortunate Events : Common Sequencing Patterns in Financial Crises
Reinhart, Carmen M. - 2012
We document that the global scope and depth of the crisis the began with the collapse of the subprime mortgage market in the summer of 2007 is unprecedented in the post World War II era and, as such, the most relevant comparison benchmark is the Great Depression (or the Great Contraction, as...
Persistent link: https://www.econbiz.de/10013108287
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Emissions pricing to stabilize global climate
Bosetti, Valentina; Paltsev, Sergey V.; Reilly, John M.; … - 2011
In the absence of significant greenhouse gas (GHG) mitigation, many analysts project that atmospheric concentrations of species identified for control in the Kyoto protocol could exceed 1000 ppm (carbon-dioxide-equivalent) by 2100 from the current levels of about 435 ppm. This could lead to...
Persistent link: https://www.econbiz.de/10009376040
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Clean and dirty international technology diffusion
Bosetti, Valentina; Verdolini, Elena - 2013
This paper investigates the role of Intellectual Property Rights (IPR) protection and Environmental Policies (EPs) on clean (renewable) and dirty (fossil-based) technology diffusion from top-innovators. IPR protection and EPs are extensively debated policy tools, as IPR protection addresses...
Persistent link: https://www.econbiz.de/10009756305
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Incentives and stability of international climate coalitions : an integrated assessment
Bosetti, Valentina; Carraro, Carlo; De Cian, Enrica; … - 2011
2-eq. More ambitious targets lead to the collapse of the coalition. -- Climate Policy ; Climate Coalition ; Game Theory …
Persistent link: https://www.econbiz.de/10009419726
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Endogenous Financial Openness : Efficiency and Political Economy Considerations
Aizenman, Joshua; Noy, Ilan - 2021
openness of the economy to international trade, the efficiency of the tax system (which in turn may be affected by political … economy considerations), and on political polarization and the degree of opportunism. Similar predictions are obtained in a … reduces financial openness by 3.5%, and a one standard deviation increase in corruption is associated with a 3% reduction of …
Persistent link: https://www.econbiz.de/10013212376
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The Real Exchange Rate, Mercantilism and the Learning by Doing Externality
Aizenman, Joshua - 2008
growth. We obtain mixed results. For an economy where LBD externality operates in the traded sector, real exchange rate …
Persistent link: https://www.econbiz.de/10012772382