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Numerical General Equilibrium Analysis of China's Impacts from Possible Mega Trade Deals

Li, Chunding - 2014

This paper explores the potential impacts on both China and other major countries of possible mega trade deals. These include the Trans-Pacific Partnership (TPP), the Regional Comprehensive Economic Partnership (RCEP), and various blocked deals. We use a numerical 13-country global general...

Persistent link: https://www.econbiz.de/10013048108

Linking External Sector Imbalances and Changing Financial Instability Before the 2008 Financial Crisis

Whalley, John - 2011

supplies over all countries as a group relative to gross world product. This, in turn, is an indication of increasing severity … imbalances relative to GDP than in 2008 for considerable periods of time and with no financial implosion (UK in the pre World War …

Persistent link: https://www.econbiz.de/10013117566

How Large are the Impacts of Carbon Motivated Border Tax Adjustments

Dong, Yan - 2014

This paper discusses the size of impact of carbon motivated border tax adjustments on world trade. We report numerical … increases, and other country's production decreases compared with the case of no BTAs. With the contraction of world trade flows … caused by the financial crisis, carbon motivated BTAs offer a prospect of a compounding effect in a world which is going …

Persistent link: https://www.econbiz.de/10013070430

The 2008 Financial Crisis and the Lack of Retaliatory Trade Intervention

Li, Chunding - 2016

The 2008 financial crisis did not precipitate global retaliatory trade intervention, in seeming contrast to the Great Depression in 1930s. This paper discusses the influence of model structure in optimal tariff (OT) calculations in explaining this puzzle. We emphasize how earlier literature...

Persistent link: https://www.econbiz.de/10013001775

International Trade and the Negotiability of Global Climate Change Agreements

Whalley, John - 2014

Country incentives to participate in cooperative arrangements which either fully or partially internalize climate change externalities from carbon emissions involve critical asymmetries. Small countries trade off own country costs of carbon mitigation actions against their own benefits from...

Persistent link: https://www.econbiz.de/10012750979

Inflation, Real Interest Rates, and the Bond Market : A Study of UK Nominal and Index-Linked Government Bond Prices

Barr, David G. - 2008

This paper estimates expected future real interest rates and inflation rates from observed prices of UK government nominal and index-linked bonds. The estimation method takes account of imperfections in the indexation of UK index-linked bonds. It assumes that expected log returns on all bonds...

Persistent link: https://www.econbiz.de/10012774964

Where Do Betas Come from? Asset Price Dynamics and the Sources of Systematic Risk

Campbell, John Y. - 2002

return effects. The paper also shows how asset pricing theory restricts the expected excess return components of betas …

Persistent link: https://www.econbiz.de/10012787489

A Variance Decomposition for Stock Returns

Campbell, John Y. - 2000

This paper shows that unexpected stock returns must be associated with changes in expected future dividends or expected future returns A vector autoregressive method is used to break unexpected stock returns into these two components. In U.S. monthly data in 1927-88, one-third of the variance of...

Persistent link: https://www.econbiz.de/10012788532

The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors

Campbell, John Y. - 2010

A linearization of a rational expectations present value model for corporate stock prices produces a simple relation between the log dividend-price ratio and mathematical expectations of future log real dividend changes and future real discount rates. This relation can be tested using vector...

Persistent link: https://www.econbiz.de/10012763389

Asset Prices, Consumption, and the Business Cycle

Campbell, John Y. - 2010

stylized facts that characterize US data, and relates them to recent developments in equilibrium asset pricing theory. Data …

Persistent link: https://www.econbiz.de/10012763609