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Benefits and Spillovers of Greater Competition in Europe : A Macroeconomic Assesment
Bayoumi, Tamim - 2004
of trade …
Persistent link: https://www.econbiz.de/10012468277
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Numerical General Equilibrium Analysis of China's Impacts from Possible Mega Trade Deals
Li, Chunding - 2014
This paper explores the potential impacts on both China and other major countries of possible mega trade deals. These …. We use a numerical 13-country global general equilibrium model with trade costs to investigate both tariff and non …-tariff effects, and include inside money to endogenously determine imports on the trade imbalance. Trade costs are calculated using a …
Persistent link: https://www.econbiz.de/10012458242
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An Import(ant) Price of Brexit Uncertainty
Graziano, Alejandro G.; Handley, Kyle; Limão, Nuno - National Bureau of Economic Research - 2023
We estimate the impact of trade policy uncertainty (TPU) on CES import price indices, focusing on the implications of … Britain's exit from the European Union (Brexit). Our analysis reveals that an increase in the probability of Brexit increases …
Persistent link: https://www.econbiz.de/10014337833
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Non-Monetary News in Central Bank Communication
Cieslak, Anna - 2018
We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central banks and a comprehensive classification of events, we decompose news conveyed by central banks into news about monetary policy, economic growth, and separately, shocks to risk...
Persistent link: https://www.econbiz.de/10012480685
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COVID-19 and SME Failures
Gourinchas, Pierre-Olivier - 2020
We estimate the impact of the COVID-19 crisis on business failures among small and medium size enterprises (SMEs) in seventeen countries using a large representative firm-level database. We use a simple model of firm cost-minimization and measure each firm's liquidity shortfall during and after...
Persistent link: https://www.econbiz.de/10012481180
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Winners and Losers of Tax Competition in the European Union
Mendoza, Enrique G. - 2003
This paper quantifies the macroeconomic effects of capital income tax competition in the European Union using a two-country neoclassical dynamic general equilibrium model. This model incorporates three key externalities of tax competition: the relative price externality, the wealth distribution...
Persistent link: https://www.econbiz.de/10012468643
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The Impact of Brexit on Foreign Investment and Production
McGrattan, Ellen R. - 2017
Kingdom from the European Union (popularly known as Brexit). Our predictions are based on simulations of a multicountry … intangible capital that is used nonrivalrously by their subsidiaries at home and abroad. We analyze several post-Brexit scenarios …
Persistent link: https://www.econbiz.de/10012455464
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The Fiscal Consequences of Missing an Inflation Target
Andreolli, Michele; Rey, Hélène - National Bureau of Economic Research - 2023
The European Central Bank is unique in setting monetary policy for several sovereign states with heterogeneous debt levels and different maturity structures. The monetary-fiscal nexus is central to the functioning of the euro area. We focus on one particular aspect of that nexus, the effect the...
Persistent link: https://www.econbiz.de/10013537713
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National Sovereignty in an Interdependent World
Bagwell, Kyle - 2004
What are the sovereign rights of nations in an interdependent world, and to what extent do these rights stand in the way of achieving important international objectives? These two questions rest at the heart of contemporary debate over the role and design of international institutions as well as...
Persistent link: https://www.econbiz.de/10012468444
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Taylor Rules in a Limited Participation Model
Christiano, Lawrence J. - 1999
We use the limited participation model of money as a laboratory for studying the operating characteristics of Taylor rules for setting the rate of interest. Rules are evaluated according to their ability to protect the economy from bad outcomes such as the burst of inflation observed in the...
Persistent link: https://www.econbiz.de/10012471783