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We document a new international stylized fact describing the relationship between real exchange rates and external asset holdings. Economists have long argued that the real exchange rate is associated with the net international investment position, appreciating as external wealth increases. This...
Persistent link: https://www.econbiz.de/10012957986
We study the macroeconomic consequences of tariffs. We estimate impulse response functions from local projections using a panel of annual data that spans 151 countries over 1963-2014. We find that tariff increases lead, in the medium term, to economically and statistically significant declines...
Persistent link: https://www.econbiz.de/10012906271
attendance for recent high school cohorts in both the U.S. and Canada using data from the 1997 Cohort of the National … income in Canada relative to the U.S., even after controlling for family background, adolescent cognitive achievement, and … generous to low-income youth than are Canadian policies. By contrast, Canada offers more generous aid to middle-class youth …
Persistent link: https://www.econbiz.de/10013122465
Conventional analysis of the welfare effects of U.S. oil price regulation in the 1970's focuses on the deadweight losses in the oil market. This paper argues that such analysis substantially understates the benefits from decontrolling prices, because decontrol will lead to an improvement in the...
Persistent link: https://www.econbiz.de/10013232453
This paper investigates whether oil prices have a reliable and stable out-of-sample relationship with the Canadian/U.S dollar nominal exchange rate. Despite state-of-the-art methodologies, we find little systematic relation between oil prices and the exchange rate at the monthly and quarterly...
Persistent link: https://www.econbiz.de/10013107723
movements remain an empirical question. Using detailed data from the United States, Canada, the United Kingdom, and Japan we …
Persistent link: https://www.econbiz.de/10014158798
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
Consumers living near the U.S.-Canada border can shift their expenditures between the two countries, so real exchange …
Persistent link: https://www.econbiz.de/10013227029
This paper reviews some of the literature on the macroeconomic effects of oil price shocks with a particular focus on possible nonlinearities in the relation and recent new results obtained by Kilian and Vigfusson (2009)
Persistent link: https://www.econbiz.de/10013141004
International macroeconomic models long have had difficulty explaining the surprisingly low volatility of the relative price between traded and nontraded goods compared to real exchange rates. This apparent puzzle may reflect a restrictive way of thinking about the nature of nontraded goods....
Persistent link: https://www.econbiz.de/10013247632