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Using international data starting in 1957, we construct a sample of cases where fast-growing economies slow down. The evidence suggests that rapidly growing economies slow down significantly, in the sense that the growth rate downshifts by at least 2 percentage points, when their per capita...
Persistent link: https://www.econbiz.de/10008927015
Some gasoline markets exhibit remarkable price cycles, where price spikes are followed by a string of small price declines until the next price spike. This pattern is predicted from a model of competition driven by Edgeworth cycles, as described by Maskin and Tirole. We extend the Maskin and...
Persistent link: https://www.econbiz.de/10005778285
direct investment inflow (FDI), gross domestic savings, gross fixed capital formation (GFCF), aid, private capital inflows …
Persistent link: https://www.econbiz.de/10010951394
Purchasing power parity exchange rates, or PPPs, are price indexes that summarize prices in each country relative to a numeraire country, typically the United States. These numbers are used to compare living standards across countries, by academics in studies of economic growth, particularly...
Persistent link: https://www.econbiz.de/10011268048
We perform an econometric analysis of the effect of new drug launches on longevity, using data from the IMS Health Drug Launches database and the WHO Mortality Database. Our data cover virtually all of the diseases borne by people in 52 countries during the period 1982-2001, and enable us to...
Persistent link: https://www.econbiz.de/10005084481
The connections between globalization and democracy are a classic question in international political economy and a topic much debated in foreign policy circles. While the analytical literature is extensive, few previous studies have acknowledged the possibility of bidirectional causality or...
Persistent link: https://www.econbiz.de/10005084636
The US Federal Reserve cut interest rates more vigorously in the recent recession than the European Central Bank did. By comparison with the Fed, the ECB followed a more measured course of action. We use an estimated dynamic general equilibrium model with financial frictions to show that...
Persistent link: https://www.econbiz.de/10005085028
Two closely related numerical general equilibrium models of world trade are used to analyze the potential consequences of US-China bilateral retaliation on trade flows and welfare. One is a conventional Armington trade model with five regions, the US, China, EU, Japan and Rest of the World, and...
Persistent link: https://www.econbiz.de/10009277243
There is a broad consensus among US opinion leaders that our economic problem is largely one of failures of international competition -- that trade deficits have eroded our manufacturing base, that inability to sell on world markets has been a major drag on economic growth, and that imports from...
Persistent link: https://www.econbiz.de/10005714083
Chinese cities. In comparison, in the late 1980s, the contribution to growth comes mainly from foreign investment. The … contribution of foreign investment comes in the form of technological and managerial spillover across firms as opposed to an … their effective utilization of foreign investment and exports. …
Persistent link: https://www.econbiz.de/10005714266