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Kraay, Aart; Ventura, Jaume - 2021

It is well known that business cycles in OECD countries exhibit a remarkable degree of synchronization. Much less known is that the peak of the OECD cycle is associated with high prices of labour-intensive products and low prices of capital-intensive ones. We document this cyclical behavior of...

Persistent link: https://www.econbiz.de/10013233430

Real Exchange Rates and Relative Prices : An Empirical Investigation

Engel, Charles M. - 2022

This paper uncovers a striking empirical regularity: the consumer price of a good relative to a different good within a country tends to be much less variable than the price of that good relative to a similar good in another country. This fact seems to hold for all goods except very simple,...

Persistent link: https://www.econbiz.de/10014074147

The Asian Flu and Russian Virus : Firm-Level Evidence on How Crises are Transmitted Internationally

Forbes, Kristin J. - 2022

This paper uses firm-level information to evaluate how crises are transmitted internationally. It constructs a new data set of financial statistics, industry information, geographic data, and stock returns for over 10,000 companies in 46 countries to test what types of firms were most affected...

Persistent link: https://www.econbiz.de/10013322873

Interest Rate Volatility and Contagion in Emerging Markets : Evidence from the 1990s

Edwards, Sebastian; Susmel, Raul - 2021

of volatility through time. We are particularly interested in understanding whether periods of high volatility spillover … across countries. Our analysis relies both on univariate and bivariate switching volatility models. Our results indicate that … high-volatility episodes are, in general, short-lived, lasting from two to seven weeks. We find some weak evidence of …

Persistent link: https://www.econbiz.de/10013229055

Geographic Barriers to Commodity Price Integration : Evidence from Us Cities and Swedish Towns, 1732-1860

Crucini, Mario J. - 2015

We study the role of distance and time in statistically explaining price dispersion for 14 commodities from 1732 to 1860. The prices are reported for US cities and Swedish market towns, so we can compare international and intranational dispersion. Distance and commodity-specific fixed effects...

Persistent link: https://www.econbiz.de/10013033353

Foreign Competition and Domestic Innovation : Evidence from U.S. Patents

Autor, David H. - 2016

The competitive shock to the U.S. manufacturing sector spurred by rising China import competition could either catalyze or stifle innovation. Using three distinct sources of variation to identify rising trade exposure, we provide a causal analysis of the effect of surging import competition on...

Persistent link: https://www.econbiz.de/10012978100

Product Mix and Firm Productivity Responses to Trade Competition

Mayer, Thierry - 2016

We document how demand shocks in export markets lead French multi-product exporters to re-allocate the mix of products sold in those destinations. In response to positive demand shocks, those French firms skew their export sales towards their best-performing products; and also extend the range...

Persistent link: https://www.econbiz.de/10012986299

International Shocks and Domestic Prices : How Large are Strategic Complementarities?

Amiti, Mary - 2016

How strong are strategic complementarities in price setting across firms? In this paper, we provide a direct empirical estimate of firm price responses to changes in prices of their competitors. We develop a general framework and an empirical identification strategy to estimate the elasticities...

Persistent link: https://www.econbiz.de/10012995977

Cross-Country Evidence on the Link between Volatility and Growth

Ramey, Garey; Ramey, Valerie A. - 2021

volatility of economic fluctuations. In a sample of 92 countries as well as a sample of OECD countries, we find that countries … with higher volatility have lower growth. The addition of standard control variables strengthens the negative relationship …. We also find that government spending-induced volatility is negatively associated with growth even after controlling for …

Persistent link: https://www.econbiz.de/10013218817

Does Inflation Targeting Increase Output Volatility? an International Comparison of Policymakers' Preferences and Outcomes

Cecchetti, Stephen G.; Ehrmann, Michael - 2021

suffered most increases in output volatility as a result …

Persistent link: https://www.econbiz.de/10013232895

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