Showing 1 - 8 of 8
In recent years the world economy has been subject to large and unsyncronized changes in fiscal policies, high and volatile real rates of tnterest, large fluctuations in real exchange rates, and significant variations in private-sector spending. This paper reviews some of the key facts...
Persistent link: https://www.econbiz.de/10012477278
This paper deals with the international transmission of the effects of budget deficits on world rates of interest and spending. The model assumes a two-country world within which capital markets are integrated, individuals behave rationally, and the behavior of individuals and governments are...
Persistent link: https://www.econbiz.de/10012477738
economy-wide sales of external assets. Consistent with our theory, we find that the predicted liquidity shock has a strong …
Persistent link: https://www.econbiz.de/10012462924
The literature has not being able to identify clear-cut real effects of exchange-rate regimes on output growth. Similarly, no definitive view emerges from the literature in regard to the effects of open capital markets on macroeconomic performance. The paper attributes the failure of the...
Persistent link: https://www.econbiz.de/10012467554
While technologies and policy fundamentals are presumably different internationally, inducing differences in growth rates, capital mobility is shown to be a powerful force in achieving complete growth rate equalization across countries. We provide evidence in support of this effect, showing that...
Persistent link: https://www.econbiz.de/10012473751
This paper surveys key developments in the theory of international migration and international trade, and provides a …
Persistent link: https://www.econbiz.de/10012474733
This paper links business cycle volatility to barriers on international mobility of goods and capital. Theory predicts …
Persistent link: https://www.econbiz.de/10012474757
Free movements of goods and capital across national borders have important implications for both direct and indirect taxation. The paper discusses the following issues: (a) The implications of different treatments of resident capital income originating abroad and nonresident capital income...
Persistent link: https://www.econbiz.de/10012475496