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Governments use their countries' economic strength from existing financial and trade relationships to achieve geopolitical and economic goals. We refer to this practice as geoeconomics. We build a framework based on three core ingredients: input output linkages, limited contract enforceability,...
Persistent link: https://www.econbiz.de/10014436983
This paper develops a framework to study the interplay between world trade and interest rates. The model incorporates an explicit notion of time and of production length, along the lines of the 'Austrian' tradition of Böhm-Bawerk (1889). Changes in the interest rate affect production lengths,...
Persistent link: https://www.econbiz.de/10013537738
We study a dynamic general equilibrium model where innovation takes the form of the introduction new goods, whose production requires skilled workers. Innovation is followed by a costly process of standardization, whereby these new goods are adapted to be produced using unskilled labor. Our...
Persistent link: https://www.econbiz.de/10012462712
This paper explores whether one of the most important U.S. policies towards Africa of the past few decades achieved its desired result. In 2000, the United States dropped trade restrictions on a broad list of products through the African Growth and Opportunity Act (AGOA). Since the Act was...
Persistent link: https://www.econbiz.de/10012465432
We review theoretical and empirical work on the economic effects of the United States and China trade relations during the last decades. We first discuss the origins of the China shock, its measurement, and present methods used to study its economic effects on different outcomes. We then focus...
Persistent link: https://www.econbiz.de/10013361989
We study the impact of the Covid-19 pandemic on Euro Area inflation and how it compares to the experiences of other countries, such as the United States, over the two-year period 2020-21. Our model-based calibration exercises deliver four key results: 1) Compositional effects - the switch from...
Persistent link: https://www.econbiz.de/10013334457
Recent literature has explored both physical and policy linkage between trade and environment. Here we explore linkage through leverage in bargaining, whereby developed countries can use trade policy threats to achieve improved developing country environmental management, while developing...
Persistent link: https://www.econbiz.de/10012472594
We examine the effects of aid on growth--in cross-sectional and panel data--after correcting for the bias that aid …
Persistent link: https://www.econbiz.de/10012467166
The Burnside and Dollar (2000, AER) finding that aid raises growth in a good policy environment has had an important influence on policy and academic debates. We conduct a data gathering exercise that updates their data from 1970 -93 to 1970 -97, as well as filling in missing data for the...
Persistent link: https://www.econbiz.de/10012468851
The literature on aid and growth has not found a convincing instrumental variable to identify the causal effects of aid. This paper exploits an instrumental variable based on the fact that since 1987, eligibility for aid from the International Development Association (IDA) has been based partly...
Persistent link: https://www.econbiz.de/10012456511