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How Do Fixed-Exchange-Rates Regimes Work : the Evidence from the Gold Standard, Bretton Woods and the EMS

Giovannini, Alberto - 2013

This paper defines two competing hypotheses on the working of fixed exchange rates. The quot;symmetryquot; hypothesis states that every country is concerned with the good functioning of the system, and cannot afford to deviate from world averages. Every country is just left to follow the rules...

Persistent link: https://www.econbiz.de/10012754653

Non-Monetary News in Central Bank Communication

Cieslak, Anna - 2018

We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central banks and a comprehensive classification of events, we decompose news conveyed by central banks into news about monetary policy, economic growth, and separately, shocks to risk...

Persistent link: https://www.econbiz.de/10012911101

The Impact of Brexit on Foreign Investment and Production

McGrattan, Ellen R. - 2017

Kingdom from the European Union (popularly known as Brexit). Our predictions are based on simulations of a multicountry …&D and other intangibles, which is costly, and welfare for U.K. citizens is lower. If the European Union remains open, its … Europe. If instead we assume that the European Union imposes the same restrictions on U.K. FDI, then E.U. firms invest more …

Persistent link: https://www.econbiz.de/10012960512

Strong Sterling Pound and Weak European Currencies in the Crises : Evidence from Covered Interest Parity of Secured Rates

Fukuda, Shin-Ichi - 2016

In the post Lehman period, the interest rate of the US dollar became low on the forward contract because of“flight to quality” to the international currency. However, in the Euro crisis, that of the Sterling pound became equally low, while the other European currencies such as the Danish...

Persistent link: https://www.econbiz.de/10012999986

Worker Needs and Voice in the Us and the UK

Freeman, Richard B. - 2010

Workers have responded differently to declining union density in the US and UK. US workers have unfilled demand for …

Persistent link: https://www.econbiz.de/10012761324

Poisoned Grapes, Mad Cow, and Protectionism

Engel, Eduardo M. R. A. - 2021

United States in 1989. The second is the mad cows dispute between the United Kingdom and the European Union in 1996. These … case studies motivate a new definition of protectionist measure' which is applied to argue the European Union's ban on …

Persistent link: https://www.econbiz.de/10013220395

Winners and Losers of Tax Competition in the European Union

Mendoza, Enrique G.; Tesar, Linda L. - 2021

This paper quantifies the macroeconomic effects of capital income tax competition in the European Union using a two …

Persistent link: https://www.econbiz.de/10013222999

The International Macroeconomics of Taxation and the Case Against European Tax Harmonization

Mendoza, Enrique G. - 2021

The theory of international macroeconomics shows that domestic tax policy in a global economy affects foreign economic conditions via complex, dynamic interactions through relative prices, tax revenues, and wealth distribution. This paper proposes a tractable quantitative framework for assessing...

Persistent link: https://www.econbiz.de/10013223560

Managing Households' Expectations with Unconventional Policies

D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2022

With a binding effective lower bound on interest rates and large government deficits, conventional policies are unviable and policymakers resort to unconventional policies, which target households' expectations directly. Using unique micro data and a difference-in-differences strategy, we assess...

Persistent link: https://www.econbiz.de/10013294961

Regional Nonadjustment and Fiscal Policy : Lessons for Emu

Obstfeld, Maurice; Peri, Giovanni - 2021

be hard to resist the eventual extension of existing EU mechanisms of income redistribution--a transfer union. We propose …

Persistent link: https://www.econbiz.de/10013249688