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Expectations, Asset Prices, and Monetary Policy : The Role of Learning

Gilchrist, Simon - 2010

. Asset price movements induced by changes in trend growth influence balance-sheet conditions that determine the external … the asset price gap represents distortions in the resource allocation induced by financial market imperfections more … calculation of the potential and thus reduces the benefit of responding to the asset price gap. A policy that responds to the …

Persistent link: https://www.econbiz.de/10012761257

Labor Market Shifts and the Price Puzzle Revisited

Krueger, Alan B. - 2021

This paper examines the relationship between price growth and skill intensity across 150 manufacturing industries … between 1989 and 1995. There are two main findings. First, wage growth and intermediate goods price increases are passed …

Persistent link: https://www.econbiz.de/10013213070

Misallocation, Economic Growth, and Input-Output Economics

Jones, Charles I. - 2011

One of the most important developments in the growth literature of the last decade is the enhanced appreciation of the role that the misallocation of resources plays in helping us understand income differences across countries. Misallocation at the micro level typically reduces total factor...

Persistent link: https://www.econbiz.de/10013130964

What the Government Purchases Multiplier Actually Multiplied in the 2009 Stimulus Package

Cogan, John F. - 2010

Much of the recent economic debate about the impact of stimulus packages has focused on the size of the crucial government purchases multiplier. But equally crucial is the size of the government purchases multiplicand--the change in government purchases of goods and services that the multiplier...

Persistent link: https://www.econbiz.de/10013136548

Trade in Intermediate Inputs and Business Cycle Comovement

Johnson, Robert C. - 2012

Does input trade synchronize business cycles across countries? I incorporate input trade into a dynamic multi-sector model with many countries, calibrate the model to match bilateral input-output data, and estimate trade-comovement regressions in simulated data. With correlated productivity...

Persistent link: https://www.econbiz.de/10013103528

Supply-Chain Trade : A Portrait of Global Patterns and Several Testable Hypotheses

Baldwin, Richard - 2013

The trade linked to international production networks - supply-chain trade for short - is associated with momentous global economic changes. This paper presents a portrait of the global pattern of supply-chain trade and how it has evolved since 1995. The paper draws on a variety of data sources...

Persistent link: https://www.econbiz.de/10013083394

Quantifying International Production Sharing at the Bilateral and Sector Levels

Wang, Zhi - 2013

This paper generalizes the gross exports accounting framework, initially proposed by Koopman, Wang, and Wei (2014) for a country's aggregate exports, to one at the sector, bilateral, and bilateral-sector levels. Such a generalization requires a conceptual distinction between value added exports...

Persistent link: https://www.econbiz.de/10013072571

Internalizing Global Value Chains : A Firm-Level Analysis

Alfaro, Laura - 2015

In recent decades, advances in information and communication technology and falling trade barriers have led firms to retain within their boundaries and in their domestic economies only a subset of their production stages. A key decision facing firms worldwide is the extent of control to exert...

Persistent link: https://www.econbiz.de/10013014670

Does Foreign Entry Spur Innovation?

Gorodnichenko, Yuriy - 2015

Using large firm-level and industry-level data sets from eighteen countries, we find that foreign direct investment (FDI) and trade have positive spillover effects on product and technology innovation by domestic firms in emerging markets. The FDI effect is more pronounced for firms from...

Persistent link: https://www.econbiz.de/10013015978

Estimating Trade Elasticities : Demand Composition and the Trade Collapse of 2008-09

Bussière, Matthieu - 2012

This paper introduces a new methodology for the estimation of demand trade elasticities based on an import intensity-adjusted measure of aggregate demand, with the foundation of a stylized theoretical model. We compute the import intensity of demand components by using the OECD Input-Output...

Persistent link: https://www.econbiz.de/10013112619

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