Narrow search
Showing 1 - 10 of 396
Cover Image
Measuring International Trade in Services
Lipsey, Robert E. - National Bureau of Economic Research (NBER) - 2006
World trade in services has recently been a little under $US2 trillion, about a quarter of world trade in goods. That ratio does not appear to have changed much in the last 50 years. For the US, exports of services have recently been over 40% and imports about 20% of exports and imports of...
Persistent link: https://www.econbiz.de/10005085043
Cover Image
A Structural Approach to Identifying the Sources of Local-Currency Price Stability
Goldberg, Pinelopi; Hellerstein, Rebecca - National Bureau of Economic Research (NBER) - 2007
The inertia of the local-currency prices of traded goods in the face of exchange-rate changes is a well …-documented phenomenon in International Economics. This paper develops a structural model to identify the sources of this local-currency …
Persistent link: https://www.econbiz.de/10005828568
Cover Image
Globalization, Growth and Crises: The View from Latin America
Edwards, Sebastian - National Bureau of Economic Research (NBER) - 2008
In this paper I analyze the role of openness and globalization in Latin America's economic development. The paper is divided into two distinct part: I first (Sections II through IV) provide an analysis of 60 years of the region's economic history, that go form the launching of the Alliance for...
Persistent link: https://www.econbiz.de/10005828606
Cover Image
When in Peril, Retrench: Testing the Portfolio Channel of Contagion
Broner, Fernando; Gelos, R. Gaston; Reinhart, Carmen - National Bureau of Economic Research (NBER) - 2004
One plausible mechanism through which financial market shocks may propagate across countries is through the effect of past gains and losses on investors' risk aversion. The paper first presents a simple model examining how heterogeneous changes in investors' risk aversion affects portfolio...
Persistent link: https://www.econbiz.de/10005829122
Cover Image
Measuring Product-Market Integration
Knetter, Michael M.; Slaughter, Matthew J. - National Bureau of Economic Research (NBER) - 1999
Globalization -- the integration of national economies -- has become one of the most widely used buzzwords of the late 20th century. Yet there are remarkably few statistical measures of product-market integration across time, countries, and goods. In this paper we present some new measures of...
Persistent link: https://www.econbiz.de/10005829192
Cover Image
Strict Dollarization and Economic Performance: An Empirical Investigation
Edwards, Sebastian; Magendzo, I. Igal - National Bureau of Economic Research (NBER) - 2003
currency. We analyze this issue by using a treatment regression analysis that estimates jointly the probability of being a …
Persistent link: https://www.econbiz.de/10005829313
Cover Image
Local Currency Bond Markets
Burger, John D.; Warnock, Francis E. - National Bureau of Economic Research (NBER) - 2006
stable inflation rates and strong creditor rights have more developed local bond markets and rely less on foreign-currency …-denominated bonds. The results suggest that "original sin" is a misnomer. Emerging economies are not inherently dependent upon foreign-currency … debt. Rather, by improving policy performance and strengthening institutions they may develop local currency bond markets …
Persistent link: https://www.econbiz.de/10005829337
Cover Image
Contagion in Latin America: Definitions, Measurement, and Policy Implications
Forbes, Kristin; Rigobon, Roberto - National Bureau of Economic Research (NBER) - 2000
This paper analyzes bond and stock markets in Latin America and uses these patterns to investigate whether contagion occurred in the 1990's. It defines shift-contagion' as a significant increase in cross-market linkages after a shock to one country or region. Several coin-toss examples and a...
Persistent link: https://www.econbiz.de/10005829660
Cover Image
Can Portfolio Rebalancing Explain the Dynamics of Equity Returns, Equity Flows, and Exchange Rates?
Hau, Harald; Rey, Helene - National Bureau of Economic Research (NBER) - 2004
We explore whether the pattern of international equity returns, equity portfolio flows, and exchange rate returns are consistent with the hypothesis that (unhedged) global investors rebalance their portfolio in order to limit their exchange rate exposure when there are (1) relative equity return...
Persistent link: https://www.econbiz.de/10005830045
Cover Image
A Panel Project on Purchasing Power Parity: Mean Reversion Within and Between Countries
Frankel, Jeffrey Alexander; Rose, Andrew - National Bureau of Economic Research (NBER) - 1995
Previous time-series studies have shown evidence of mean- reversion in real exchange rates. Deviations from purchasing power parity (PPP) appear to have half-lives of approximately four years. However, the long samples required for statistical significance are unavailable for most currencies,...
Persistent link: https://www.econbiz.de/10005830077