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mechanism and test the over-identifying restrictions for Australia, Canada, and New Zealand. For all three countries …
Persistent link: https://www.econbiz.de/10012910649
We examine two key channels through which commodity price super-cycles affect the economy. Higher commodity prices increase domestic demand (wealth channel), disproportionately benefiting nonexporters, and induce wage increases (cost channel) especially among unskilled workers, hurting...
Persistent link: https://www.econbiz.de/10012920361
Even though Australia has experienced frequent and large commodity export price shocks like the Third World, it seems … identifies two major price shock episodes before the recent mining-led boom and bust. It assesses their relative magnitude, their … de-industrialization and distributional impact, and policy responses. In what way has Australia been different from other …
Persistent link: https://www.econbiz.de/10012757921
This paper examines the relationship between antidumping filings and macroeconomic factors. We show that real exchange rate fluctuations affect the two criteria for dumping in opposite ways, making the overall effect on filings ambiguous in theory. Interestingly, no such ambiguity is evidenced...
Persistent link: https://www.econbiz.de/10013226990
remotely one or more days per week rose more than three-fold in the U.S and by a factor of five or more in Australia, Canada …
Persistent link: https://www.econbiz.de/10014259725
several former colonies of Great Britain: the United States, Canada, Australia, New Zealand and South Africa. We trace out …
Persistent link: https://www.econbiz.de/10013313637
Trade theorists have come to understand that their theory is ambiguous on the question: Are trade and factor flows substitutes? While this sounds like an open invitation for empirical research, hardly any serious econometric work has appeared in the literature. This paper uses history to fill...
Persistent link: https://www.econbiz.de/10013218517
This paper presents a simple model of how a small open economy can undervalue its real exchange rate using its capital account policies. The paper presents several properties of such policies, and proposes a rule of thumb to assess their welfare cost. The model is applied to an analysis of...
Persistent link: https://www.econbiz.de/10013100363
Fluctuations in commodity prices are often associated with macroeconomic volatility. But not all nations are created equal in this regard. The macro response to commodity booms and busts depends both on the structural characteristics of the economy and on the policy framework that is in place....
Persistent link: https://www.econbiz.de/10013097275
In lower-income economies, stocks exhibit less idiosyncratic volatility and business groups are more prevalent. This study connects these two findings by showing that business group affiliated firms' stock returns exhibit less idiosyncratic volatility than do the returns of otherwise similar...
Persistent link: https://www.econbiz.de/10012869223