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Productivity and the product scope of multi-product firms : a test of Feenstra-Ma

Raff, Horst; Wagner, Joachim - 2012

firms always have a higher market share, there is no monotonic relationship between firms' productivity level and their … effect'. Therefore, the incentive to add more products weakens as productivity rises. This leads to Lemma 3 in Feenstra and … evidence is in line with the results from the theoretical model. -- Multi-product firms ; productivity ; optimal product scope …

Persistent link: https://www.econbiz.de/10009682079

Sources of euro real exchange rate fluctuations : what is behind the euro weakness in 1999-2000?

Döpke, Jörg; Gottschalk, Jan; Kamps, Christophe - 2001

This paper analyzes the factors underlying the weakness of the euro. For this purpose, the framework advocated by Clarida and Gali (1994) is used. Within this model, three structural shocks drive the dynamics of the endogenous variables: aggregate supply shocks, aggregate spending shocks, and...

Persistent link: https://www.econbiz.de/10011473872

Multivariate cointegration analysis of aggregate exports : empirical evidence for the United States, Canada, and Germany

Strauß, Hubert - 2002

A shortcoming of most empirical studies on aggregate exports is their exclusive focus on the demand side. Moreover, the effect of globalization is often neglected leading to implausibly high income elasticities. This paper models export demand and supply simultaneously and incorporates a new...

Persistent link: https://www.econbiz.de/10011474729

Inflation and the skewness of the distribution of relative price changes : empirical evidence for Germany

Döpke, Jörg; Pierdzioch, Christian - 2001

aggregate inflation and the higher-order moments of the distribution of relative price changes. Our empirical findings confirm … explanatory variable for the inflation rate. Further, the skewness measure also helps to explain shifts in the Phillips curve …

Persistent link: https://www.econbiz.de/10011476471

Eingleichungsmodelle zur Prognose des deutschen Außenhandels

Strauß, Hubert - 2000

Sowohl die deutschen Exporte als auch die Importe von Waren und Dienstleistungen weisen im Zeitraum 1974-1999 bezüglich der zugrunde liegenden Aktivitätsvariablen eine langfristige Elastizität von jeweils rund 1,5 auf. Die Langfristelastizität in Bezug auf den realen Außenwert der D-Mark...

Persistent link: https://www.econbiz.de/10011472253

Business cycle volatility in Germany

Buch, Claudia M.; Döpke, Jörg; Pierdzioch, Christian - 2002

Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and the nature of this decline have so far been analyzed mainly for the United States. In this paper, we analyze whether structural breaks in the dynamics and the volatility of the...

Persistent link: https://www.econbiz.de/10011475861

Predicting real exchange rates from real interest rate differentials and net foreign asset stocks : evidence for the mark/dollar parity

Meier, Carsten-Patrick - 1999

When nontraded goods prices are accounted for consistently and genuine stock data on bilateral foreign asset holdings is employed, a modified sticky-price exchange rate model by far outperforms the benchmark random walk-model in empirically forecasting the D-mark/dollar parity out of sample....

Persistent link: https://www.econbiz.de/10011490699

Die Bedeutung monetärer Größen für die deutsche Wachstumsschwäche 1995 -2005

Dovern, Jonas (contributor); Jannsen, Nils (contributor); … - 2009

Between 1995 and 2005, the German economy has experienced a phase of weak economic growth. We analyze whether this weak growth performance can be attributed to the stance of monetary conditions during that period. We show that the real effective exchange rate did have almost no dampening effects...

Persistent link: https://www.econbiz.de/10003816156

Noise traders' trigger rates, FX options, and smiles

Pierdzioch, Christian - 2000

A contingent claims valuation model which allows to highlight the implications of program trading in spot markets for the pricing of European-style foreign currency options and for the volatility strike structure implicit in these contracts is devoloped. The curvature of the volatility strike...

Persistent link: https://www.econbiz.de/10011476532

The effectiveness of the FX market interventions of the Bundesbank during the Louvre period : an options-based analysis

Pierdzioch, Christian - 2000

The effectiveness of the foreign exchange market interventions conducted by the Deutsche Bundesbank during the Louvre period to alter either the level or the volatility of the $/DM spot rate is examined. Volatility quotes implicit in foreign currency options are employed to recover the impact of...

Persistent link: https://www.econbiz.de/10011476547