Showing 1 - 10 of 292
It has long been recognized that a country's tariffs are the endogenous outcome of a rent-seeking game whose equilibrium reflects national institutions. Thus, the structure of tariffs across industries provides insights into how institutions, as reflected in tariff policies, affect long-term...
Persistent link: https://www.econbiz.de/10012466530
This paper uses a new database to establish a key finding: high tariffs were associated with fast growth before World … controlling for novel measures of the changing world economic environment. Rejecting alternative explanations based on changing … head in a world environment characterized by a moderately higher level of generalized tariff protection. We confirm the …
Persistent link: https://www.econbiz.de/10012469529
both domestic and international aspects of the monetary regime before World War I has since declined in its relevance At … the same time, policymakers within major nations placed more emphasis on stabilizing the real economy. In the post-World …
Persistent link: https://www.econbiz.de/10012472613
Despite an enormous literature that has analyzed the comparative experiences of Latin America and Asia in post-World … the two regions' tariffs before 1914; differences in the extent and structure of internal markets as well as the world …
Persistent link: https://www.econbiz.de/10012469302
In the Belle Époque, Belgium recorded an unprecedented trade boom, but growth in output per capita was lackluster. We …
Persistent link: https://www.econbiz.de/10012457815
This paper examines the macroeconomic aftermath of the 1992 breakdown of the European Exchange Rate Mechanism (ERM). The economic performance of six leaver' nations is compared with five stayer' nations that maintained a roughly fixed parity with the Deutsche Mark. Recent writing about...
Persistent link: https://www.econbiz.de/10012471843
This paper estimates, using data from the United States and Euro Area, a two-country stochastic growth model in which both neutral and investment-specific technology shocks are nonstationary but cointegrated across economies. The results point to large and persistent swings in productivity, both...
Persistent link: https://www.econbiz.de/10012461976
This paper addresses three issues related to the relative rates of growth in the United States, the European Union, and China during the four decades between 2000 and 2040. The first concerns the source of the factors which make it likely that China will continue to grow at a high rate for...
Persistent link: https://www.econbiz.de/10012462930
This paper shows that the EMU has not affected historical characteristics of member countries' business cycles and their cross-correlations. Member countries which had similar levels of GDP per-capita in the seventies have also experienced similar business cycles since then and no significant...
Persistent link: https://www.econbiz.de/10012464118
realignment of world growth rates -- with Japan and Europe growing faster, and the U.S. growing more slowly -- is likely to solve … resolution of global imbalances. This means that, even if there is a realignment of global growth, the world is likely to need …
Persistent link: https://www.econbiz.de/10012465752