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Productivity and the Euro-Dollar Exchange Rate Puzzle

Alquist, Ron - 2002

This paper documents the evidence for a productivity based model of the dollar/euro real exchange rate over the 1985 … the Johansen (1988) and Stock-Watson (1993) procedures. We find that each percentage point in the US-Euro area …

Persistent link: https://www.econbiz.de/10012469891

Credit Market Imperfections and Persistent Unemployment

Acemoglu, Daron - 2000

This paper develops the thesis that credit market frictions may be an important contributor to high unemployment in … market imperfections, so unemployment rises and remains high for an extended period. The data show that there has not been … industries is lower than in the U.S.. This suggests that although credit market imperfections are unlikely to have been the major …

Persistent link: https://www.econbiz.de/10012470798

Patterns of Skill Premia

Acemoglu, Daron - 1999

In this paper, I develop a model to analyze how skill premia differ over time and across countries, and use this model to study the impact of international trade on wage inequality. Skill premia are determined by technology and the relative supply of skills. An increase in the relative supply of...

Persistent link: https://www.econbiz.de/10012471782

The Predictive Power of the Yield Curve across Countries and Time

Chinn, Menzie D. - 2010

In recent years, there has been renewed interest in the yield curve (or alternatively, the term premium) as a predictor of future economic activity. In this paper, we re-examine the evidence for this predictor, both for the United States, as well as European countries. We examine the sensitivity...

Persistent link: https://www.econbiz.de/10012462258

Three Current Account Balances : A "Semi-Structuralist" Interpretation

Chinn, Menzie D. - 2005

Three large current account imbalances -- one deficit (the United States) and two surpluses (Japan and the Euro area … the Euro area, less than half a percentage point of its current account surplus is found to require an adjustment via real …

Persistent link: https://www.econbiz.de/10012466819

A Primer on Real Effective Exchange Rates : Determinants, Overvaluation, Trade Flows and Competitive Devaluation

Chinn, Menzie D. - 2005

characteristics of these differing series are examined, including the exchange rates for the U.S., the euro area and several East …

Persistent link: https://www.econbiz.de/10012467158

The Rise of Europe : Atlantic Trade, Institutional Change and Economic Growth

Acemoglu, Daron - 2002

This paper documents that the Rise of (Western) Europe between 1500 and 1850 is largely accounted for by the growth of European nations with access to the Atlantic, and especially by those nations that engaged in colonialism and long distance oceanic trade. Moreover, Atlantic ports grew much...

Persistent link: https://www.econbiz.de/10012469325

The Ups and Downs of Turkish Growth, 2002-2015 : Political Dynamics, the European Union and the Institutional Slide

Acemoglu, Daron - 2015

We document a change in the character and quality of Turkish economic growth with a turning point around 2007 and link this change to the reversal in the nature of economic institutions, which underwent a series of growth-enhancing reforms following Turkey's financial crisis in 2001, but then...

Persistent link: https://www.econbiz.de/10012457061

The Euro May Over the Next 15 Years Surpass the Dollar as Leading International Currency

Chinn, Menzie D. - 2008

The euro has arisen as a credible eventual competitor to the dollar as leading international currency, much as the … market). There is a tipping phenomenon, but changes are felt only with a long lag (we estimate a weight on the preceding year … euro over the period 1999-2007. This paper updates calculations regarding possible scenarios for the future. We exclude the …

Persistent link: https://www.econbiz.de/10012464738

Balance Sheet Effects on Monetary and Financial Spillovers : The East Asian Crisis Plus 20

Aizenman, Joshua - 2016

euro) makes the response of a financial variable such as the REER and exchange market pressure in the PHs more sensitive to …We study how the financial conditions in the Center Economies [the U.S., Japan, and the Euro area] impact other … interest rates and the real exchange rate (REER), the link with the CEs has been pervasive for developing and emerging market …

Persistent link: https://www.econbiz.de/10012455943