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In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the … unidirectional factor driving the labour share down since the eighties, and financialisation equally relevant in the eighties, but … inequality, although financialisation is the most important factor in absolute terms. In the post-Great Recession years of tense …
Persistent link: https://www.econbiz.de/10011756104
the Household Finance and Consumption Survey, it argues that a process of financialisation of the household is underway on …
Persistent link: https://www.econbiz.de/10014427487
In recent years, an increasing number of countries have began anchoring their fiscal policy frameworks in terms of rules that target the cyclically adjusted or structural (as opposed to actual) balance in an effort to overcome problems of procyclicality and fiscal volatility. The logic for doing...
Persistent link: https://www.econbiz.de/10011316667
Fluctuations in commodity prices are an important driver of business cycles in small emerging market economies (EMEs). This paper documents how these fluctuations correlate strongly with the business cycle in EMEs. A commodity sector is then embedded into a multi-country EMEs business cycle...
Persistent link: https://www.econbiz.de/10011458177
SVAR models that include a single world price (such as the terms-of-trade) predict that world shocks explain a small fraction of movements in domestic output (typically less than 10 percent). This paper presents an empirical framework in which multiple commodity prices transmit world...
Persistent link: https://www.econbiz.de/10011673250
We analyze the determinants of the inflation trends in ten Southeast European (SEE) countries. Global cost-related factors and euro area (EA) inflation developments play an important role in explaining inflation dynamics in SEE countries. Changes in world food and energy prices, together with...
Persistent link: https://www.econbiz.de/10012124587
Persistent link: https://www.econbiz.de/10014283463
Persistent link: https://www.econbiz.de/10014384610
In this paper we aim to trace the roots of the ongoing economic mayhem and to unmask the chorus of the tragedy which plays on the world stage. The main thesis of our work is that, despite the triumphant rhetoric praising the merits of perfect competition, the global fields of the dysfunctional...
Persistent link: https://www.econbiz.de/10009488633
In this paper we examine the dynamic contributions of capital accumulation, globalisation, and financialisation to the …. In turn, had financialisation not increased after 2005, inequality would have decreased to its level in the early … ; Capital intensity ; Financialisation ; Trade …
Persistent link: https://www.econbiz.de/10009562971