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Preferential Trade Agreements and Global Value Chains : Theory, Evidence, and Open Questions

Ruta, Michele - 2017

Preferential trade agreements today are more numerous and deeper than they were a quarter century ago. Do deep agreements promote countries' integration into global value chains? What are the economic mechanisms? How do countries choose their trade agreement partners? Would the undoing of deep...

Persistent link: https://www.econbiz.de/10012948008

Assessing the International Comovement of Equity Returns

Abate, Girum Dagnachew - 2018

The international comovement of equity returns has been viewed as reflecting either pervasive common shocks or local linkages between countries. This paper brings these perspectives together by assessing the comovement of equity returns in a dynamic model that allows for both common factors and...

Persistent link: https://www.econbiz.de/10012912313

Swept by the Tide? The International Comovement of Capital Flows

Fernandez Lafuerza, Luis Gonzalo - 2019

This paper assesses the international comovement of gross capital flows in a setting simultaneously encompassing aggregate inflows and outflows. It uses as empirical framework a multilevel latent factor model, implemented on flow data for a large sample of countries over more than three decades....

Persistent link: https://www.econbiz.de/10012889898

Cheap but flighty : how global imbalances create financial fragility

Ahnert, Toni; Perotti, Enrico - 2015

We analyze how a wealth shift to emerging countries may lead to instability in developed countries. Investors exposed to expropriation risk are willing to pay a safety premium to invest in countries with good property rights. Domestic intermediaries compete for such cheap funding by carving out...

Persistent link: https://www.econbiz.de/10011304762

The role of comovement and time-varying dynamics in forecasting commodity prices

Allayioti, Anastasia; Venditti, Fabrizio - 2024

Commodity prices co-move, but the strength of this co-movement changes over time due to structural factors, like changing energy intensity in production and consumption as well as changing composition of underlying shocks. This paper explores whether econometric models that exploit this...

Persistent link: https://www.econbiz.de/10014486704

Horizontal Depth : A New Database on the Content of Preferential Trade Agreements

Hofmann, Claudia - 2017

1958 and 2015, which reflects the entire set of preferential trade agreements in force and notified to the World Trade … World Trade Organization mandate and in four leading areas outside the current World Trade Organization mandate: competition …

Persistent link: https://www.econbiz.de/10012962302

Non-Tariff Measures and the World Trading System

Ederington, Josh - 2017

With the success of the World Trade Organization and its predecessor, the General Agreement on Tariffs and Trade, in … literature on non-tariff measures in the world trading system. It provides a set of stylized facts based on available data on non … measures in the trade literature with a focus on the rules and institutions that govern non-tariff measures in the world …

Persistent link: https://www.econbiz.de/10012969264

Deep Trade Agreements and Vertical FDI : The Devil is in the Details

Osnago, Alberto - 2017

agreements and of vertical foreign direct investment to test the theory. Consistent with the model, the analysis finds evidence … implication of the model is specific to the so-called ?property rights? theory of the multinational firm, the findings provide …

Persistent link: https://www.econbiz.de/10012970742

Depreciations Without Exports? Global Value Chains and the Exchange Rate Elasticity of Exports

Ahmed Hannan, Swarnali - 2017

This paper analyzes how the exchange rate elasticity of exports has changed over time and across countries and sectors, and how the formation of global value chains has affected this relationship. The analysis uses a panel framework covering 46 countries over the period 1996-2012, and first...

Persistent link: https://www.econbiz.de/10012971261

Gross Capital Flows by Banks, Corporates, and Sovereigns

Avdjiev, Stefan - 2018

This paper constructs a new dataset of quarterly capital flows by sector and establishes four facts. First, the co-movement of capital inflows and outflows is driven by banks. Second, procyclicality of capital inflows is driven by banks and corporates, whereas sovereigns' external liabilities...

Persistent link: https://www.econbiz.de/10012912315