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In their striving toward development, a number of less developed countries have espoused bilateral trade as yet another policy instrument allowing them to increase their acquisition of foreign resources. This has been particularly true of the trade of India, Pakistan, and Egypt, on which some...
Persistent link: https://www.econbiz.de/10012479072
This paper highlights the rare conditions leading to international cooperation, and the reasons why eliciting this cooperation may be beneficial in preventing adverse tail shocks from spiraling into global depressions. In normal times, deeper macro cooperation among countries is associated with...
Persistent link: https://www.econbiz.de/10012456878
This paper places current efforts at international economic policy coordination in historical perspective. It argues that successful cooperation is most likely in four sets of circumstances. First, when it centers on technical issues. Second, when cooperation is institutionalized - when...
Persistent link: https://www.econbiz.de/10012460992
Building on Baker, Bloom and Davis (2016), I construct a monthly index of Global Economic Policy Uncertainty (GEPU) from January 1997. The GEPU Index is a GDP-weighted average of national EPU indices for 16 countries that account for two-thirds of global output. Each national EPU index reflects...
Persistent link: https://www.econbiz.de/10012455940
the (less rich) Old World more equal. The evidence on the links between within-country inequality and globalization in the … the links between them. In doing so, it distinguishes between (a) the different dimensions of globalization; and (b …) between-country and within-country inequality. Theory suggests that globalization will have very different implications for …
Persistent link: https://www.econbiz.de/10012470385
Common wisdom dictates that uncertainty impedes trade--we show that uncertainty can fuel more trade in a simple general equilibrium trade model with information frictions. In equilibrium, increases in uncertainty increase both the mean and the variance in returns to exporting implying that trade...
Persistent link: https://www.econbiz.de/10012479559
. The paper provides an overview of the new globalization trends in the world and in Israel, with emphasis on the role of …Post WWII globalization forces are facing headwinds in the form of global crises-the "The Great Recession" and the "The … Pandemic Recession". Israel's trade and financial globalization, however, is steadily rising. The pandemic-induced slump in …
Persistent link: https://www.econbiz.de/10012482557
actual aggregate cross-section data for 89 countries in 2011 to a hypothetical world without FDI. The gains from FDI amount … to 9\% of world's welfare and to 11% of world's trade, unevenly distributed among winners and losers. Net exports of FDI …
Persistent link: https://www.econbiz.de/10012453954
bit more than half the world's countries experience declining CHB and rising TFP. The effects are big for the outliers. A …
Persistent link: https://www.econbiz.de/10012462358
Economists devote too much attention to international flows of goods and services and not enough to international flows of ideas. Traditional trade flows are an imperfect substitute for flows of the underlying ideas. The simplest textbook trade model shows that a welfare-enhancing move toward...
Persistent link: https://www.econbiz.de/10012462900