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New evidence on the effects of US monetary policy on exchange rates
Kalyvitis, Sarantis; Michaelides, Alexander - London School of Economics (LSE) - 2001
We examine the impact of US monetary policy shocks on exchange rates using the monetary policy indicator proposed by Bernanke and Mihov [Quarterly Journal of Economics, 113 (1998) 869–902]. We find evidence for instantaneous, rather than delayed, US dollar overshooting after a monetary shock...
Persistent link: https://www.econbiz.de/10010745023
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On the detrimental impact of visa restrictions on bilateral trade and foreign direct investment
Neumayer, Eric - London School of Economics (LSE) - 2011
This article estimates the effect of visa restrictions on bilateral trade flows and foreign direct investment (FDI …, which is detrimental to trade and FDI. Employing a standard gravity-type model in a global dyadic country sample, I estimate … place by the partner country, this lowers bilateral trade and FDI by up to 19 and 25 per cent, respectively. If both …
Persistent link: https://www.econbiz.de/10010744803
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Hundi/hawala: the problem of definition
Martin, Marina B.V. - London School of Economics (LSE) - 2009
of functions, but whose central purpose is trade. …
Persistent link: https://www.econbiz.de/10010745765
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Currency unions in prospect and retrospect
Silva, J.M.C. Santos; Tenreyro, Silvana - London School of Economics (LSE) - 2010
particular, and in contrast with estimates of the trade effect of other currency unions, we find that the impact of the euro on … trade has been close to zero. After reviewing the costs and benefits, we conclude with some open questions on normative and …
Persistent link: https://www.econbiz.de/10010746444
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Trapped factors and China’s impact on global growth
Bloom, Nicholas; Romer, Paul; Terry, Stephen; Van … - London School of Economics (LSE) - 2014
In a general equilibrium product-cycle model, lower trade barriers in-crease Southern purchasing power, which lifts … from a baseline OECD growth rate of 2% we find that trade integration with low-wage countries in the decade around China …
Persistent link: https://www.econbiz.de/10011126023
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Spillover and backward linkage effects of FDI: empirical evidence for the UK
Harris, Richard - London School of Economics (LSE) - 2009
Recent work (including that of the author) on the impact of FDI has been based on microlevel (i.e. firms, establishments or plants) data, since this allows much greater control when examining such issues as whether FDI plants are more productive or innovative; whether there are spillovers to...
Persistent link: https://www.econbiz.de/10010884505
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The United Kingdom pension system: key issues
Blake, David - London School of Economics (LSE) - 2003
This paper examines the key issues relating to the UK pension system. It reviews the current system of pension provision, describes and analyses the reforms since 1980, examines the legal regulatory and accounting framework for occupational pension schemes, assesses the different types of risks...
Persistent link: https://www.econbiz.de/10010884512
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Coordination risk and the price of debt
Morris, Stephen; Shin, Hyun Song - London School of Economics (LSE) - 2001
Creditors of a distressed borrower face a coordination problem. Even if the fundamentals are sound, fear of premature foreclosure by others may lead to pre-emptive actions, undermining the project. Recognition of this problem lies behind corporate bankruptcy provisions across the world, and it...
Persistent link: https://www.econbiz.de/10010884521
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Coordination, learning, and delay
Dasgupta, Amil - London School of Economics (LSE) - 2002
This paper studies how the introduction of social learning with costs to delay affects coordination games with incomplete information. We present a tractable noisy dynamic coordination game with social learning and costs to delay. We show that this game has a unique monotone equilibrium. A...
Persistent link: https://www.econbiz.de/10010884536
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Mean-variance portfolio allocation with a value at risk constraint
Sentana, Enrique - London School of Economics (LSE) - 2001
In this paper, I first provide a unifying approach to Mean-Variance analysis and Value at Risk, which highlights both their similarities and differences. Then I use it to explain how fund managers can take investment decisions within the well-known Mean-Variance allocation framework that satisfy...
Persistent link: https://www.econbiz.de/10010884540