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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
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Do oil price increases cause higher food prices?
Baumeister, Christiane; Kilian, Lutz - 2013
U.S. retail food price increases in recent years may seem large in nominal terms, but after adjusting for inflation have been quite modest even after the change in U.S. biofuel policies in 2006. In contrast, increases in the real prices of corn, soybeans, wheat and rice received by U.S. farmers...
Persistent link: https://www.econbiz.de/10010225465
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Global inflation dynamics in the post-crisis period : what explains the twin puzzle?
Friedrich, Christian - 2014
inflation expectations are an important addition to the global Phillips curve. And third, the fiscal policy stance helps explain …
Persistent link: https://www.econbiz.de/10010387296
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The impact of globalization and digitalization on the Phillips Curve
Friedrich, Christian; Selcuk, Peter - 2022 - Last updated: February 22, 2022
In this paper, we examine the impact of globalization and digitalization on the Phillips curve in a sample of 18 … advanced economies over two decades. Using industry-level data from the World and EU KLEMS databases, we first estimate country … assess the relative impact of globalization and digitalization on the slope coefficients of these Phillips curves, which …
Persistent link: https://www.econbiz.de/10012822142
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Reassessing trade barriers with global value chains
Imura, Yuko - 2019
This paper provides a systematic, quantitative analysis of the short-run and long-run effects of various trade-restricting policies in the presence of global value chains and multinational production. Using a two-country dynamic stochastic general equilibrium model with endogenous firm entry and...
Persistent link: https://www.econbiz.de/10012003471
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Globalization and inflation : the role of China
Côté, Denise (contributor); De Resende, Carlos (contributor) - 2008
In this paper, we develop a theoretical model which identifies four channelsimport prices, competition with domestic suppliers and workers, and commodity pricesthrough which priceand wage-setting conditions in country j may affect inflation in country i. We estimate a dynamic inflation equation...
Persistent link: https://www.econbiz.de/10003773053
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Transmission of shocks to the Chinese economy in a global context : a model-based approach
Bailliu, Jeannine N.; Blagrave, Patrick - 2010
particular attention to modelling the exchange rate and monetary policy in China. Their findings suggest that the Chinese economy … adjusts more slowly to shocks, compared to the large advanced economies, because monetary policy is less effective and the …
Persistent link: https://www.econbiz.de/10003996844
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The impact of the global business cycle on small open economies : a FAVAR approach for Canada
Vasishtha, Garima; Maier, Philipp - 2011
Building on the growing evidence on the importance of large data sets for empirical macroeconomic modeling, we use a factor-augmented VAR (FAVAR) model with more than 260 series for 20 OECD countries to analyze how global developments affect the Canadian economy. We focus on several sources of...
Persistent link: https://www.econbiz.de/10008809300
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Responding to the first era of globalization : Canadian trade policy, 1870-1913
Alexander, Patrick; Keay, Ian - 2018
In this paper we document Canada's trade policy response to late-nineteenth- and earlytwentieth-century globalization … reveal a highly selective move towards protectionism following the adoption of the National Policy in 1879. Changes in the …
Persistent link: https://www.econbiz.de/10011895083
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Testing for financial contagion with applications to the Canadian banking system
Li, Fuchun - 2009
The author proposes a new test for financial contagion based on a non-parametric measure of the cross-market correlation. The test does not depend on the assumption that the data are drawn from a given probability distribution; therefore, it allows for maximal flexibility in fitting into the...
Persistent link: https://www.econbiz.de/10003852845