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Commodity price co-movement and global economic activity

Alquist, Ron; Coibion, Olivier - 2014

Guided by a macroeconomic model in which non-energy commodity prices are endogenously determined, we apply a new factor-based identification strategy to decompose the historical sources of changes in commodity prices and global economic activity. The model yields a factor structure for commodity...

Persistent link: https://www.econbiz.de/10010385286

Cheap but flighty : how global imbalances create financial fragility

Ahnert, Toni; Perotti, Enrico C. - 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

A blessing in disguise : the implications of high global oil prices for the North American market

Alquist, Ron; Guénette, Justin-Damien - 2013

We examine the implications of increased unconventional crude oil production in North America. This production increase has been made possible by the existence of alternative oil-recovery technologies and persistently elevated oil prices that make these technologies commercially viable. We first...

Persistent link: https://www.econbiz.de/10009767984

Fire-sale FDI or business as usual?

Alquist, Ron; Mukherjee, Rahul; Tesar, Linda L. - 2013

Using a new data set, we examine the characteristics and dynamics of cross-border mergers and acquisitions during emerging-market financial crises, that is, so-called "fire-sale FDI". Our findings shed fresh light on whether the transactions undertaken during crisis periods differ in fundamental...

Persistent link: https://www.econbiz.de/10009751702

What does the convenience yield curve tell us about the crude oil market?

Alquist, Ron; Bauer, Gregory H.; Díez de los Ríos, Antonio - 2014

that the convenience yield curve is well explained by a level and a slope factor. Consistent with the theory of storage …

Persistent link: https://www.econbiz.de/10010401755

The Effect of Climate and Technological Uncertainty in Crop Yields on the Optimal Path of Global Land Use

Cai, Yongyang - 2017

The pattern of global land use has important implications for the world's food and timber supplies, bioenergy …, biodiversity and other eco-system services. However, the productivity of this resource is critically dependent on the world …

Persistent link: https://www.econbiz.de/10012972864

Confronting the Food-Energy-Environment Trilemma : Global Land Use in the Long Run

Steinbuks, Jevgenijs - 2017

evaluating economically optimal allocations of the world's land resources. A dynamic, forward-looking optimization framework …

Persistent link: https://www.econbiz.de/10012973101

Potential Implications of a Special Safeguard Mechanism in the WTO : The Case of Wheat

Hertel, Thomas W. - 2017

The Special Safeguard Mechanism was a key issue in the July 2008 failure to reach agreement in the World Trade … uses a stochastic simulation model of the world wheat market to investigate the effects of policy makers implementing … percent in some regions, with world wheat trade falling by 4.7 percent. The price measures discriminate against low price …

Persistent link: https://www.econbiz.de/10012976503

Poverty Analysis Using an International Cross-Country Demand System

Cranfield, John A. L. - 2016

This paper proposes a new method for ex ante analysis of the poverty impacts arising from policy reforms. Three innovations underlie this approach. The first is the estimation of a global demand system using a combination of micro-data from household surveys and macro-data from the International...

Persistent link: https://www.econbiz.de/10012747682

Distributional Effects of WTO Agricultural Reforms in Rich and Poor Countries

Hertel, Thomas W. - 2016

Rich countries' agricultural trade policies are the battleground on which the future of the WTO's troubled Doha Round will be determined. Subject to widespread criticism, they nonetheless appear to be almost immune to serious reform, and one of their most common defenses is that they protect...

Persistent link: https://www.econbiz.de/10012747917