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Persistent differences in interest rates across countries account for much of the profitability of currency carry trade strategies. "Commodity currencies'' tend to have high interest rates while low interest rate currencies belong to exporters of finished goods. This pattern arises in a...
Persistent link: https://www.econbiz.de/10013076915
We study how changes in the value of the steady-state real interest rate affect the optimal inflation target, both in the U.S. and the euro area, using an estimated New Keynesian DSGE model that incorporates the zero (or effective) lower bound on the nominal interest rate. We find that this...
Persistent link: https://www.econbiz.de/10012927026
Persistent link: https://www.econbiz.de/10000910582
Persistent link: https://www.econbiz.de/10000874337
the country level with data on pollution intensity at the industry level to show that countries with laxer environmental …. We propose an instrument for environmental regulation based on meteorological determinants of pollution dispersion identi …...ed by the atmospheric pollution literature. We find that the effect of environmental regulation on the pattern of trade is …
Persistent link: https://www.econbiz.de/10013101512
Long before economics turned to psychology, environmentalists were nudging and framing and pushing their cause like highly gifted amateur psychologists. Their interventions seem to have changed behavior by altering beliefs, norms and preferences, but because psychological interventions are often...
Persistent link: https://www.econbiz.de/10013077217
, species extinction and industrial pollution were rising. Recently it has been intensified by the creation of the World Trade …
Persistent link: https://www.econbiz.de/10013322309
This paper sets out a theory of how openness to international goods markets affects pollution concentrations. We … develop a theoretical model to divide trade's impact on pollution into scale, technique, and composition effects and then … examine this theory using data on sulfur dioxide concentrations when it alters the composition, and hence the pollution …
Persistent link: https://www.econbiz.de/10013230590
: concentrations of urban air pollution; measures of the state of the oxygen regime in river basins; concentrations of fecal …
Persistent link: https://www.econbiz.de/10013244746