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Kose, M. Ayhan - 2020

The world economy has experienced four global recessions over the past seven decades: in 1975, 1982, 1991, and 2009 … internationally, with severe economic and financial disruptions in many countries around the world. The 2009 global recession, set off …

Persistent link: https://www.econbiz.de/10012840241

Emerging and Developing Economies : Ten Years after the Global Recession

Kose, M. Ayhan - 2020

, they now appear less well placed to cope with the substantial downside risks facing the global economy. In many EMDEs, the …

Persistent link: https://www.econbiz.de/10012841602

Debt and Financial Crises

Koh, Wee Chian - 2020

Emerging market and developing economies have experienced recurrent episodes of rapid debt accumulation over the past fifty years. This paper examines the consequences of debt accumulation using a three-pronged approach: an event study of debt accumulation episodes in 100 emerging market and...

Persistent link: https://www.econbiz.de/10012843341

Global Inflation Synchronization

Ha, Jongrim - 2019

The paper studies the extent of global inflation synchronization using a dynamic factor model in a large set of countries over a half century. The authors' methodology allows them to account for differences across groups of countries (advanced economies and emerging market and developing...

Persistent link: https://www.econbiz.de/10012891045

The Gatt's Starting Point : Tariff Levels Circa 1947

Bown, Chad P. - 2018

How high were import tariffs when GATT participants began negotiations to reduce them in 1947? Establishing this starting point is key to determining how successful the GATT has been in bringing down trade barriers. If the average tariff level was about 40 percent, as commonly reported, the...

Persistent link: https://www.econbiz.de/10012936212

The Empirical Landscape of Trade Policy

Bown, Chad P. - 2018

concludes that substantial trade policy barriers remain as an important feature of the world economy … represented 83 percent of the world's population and 91 percent of the world's GDP in 2013. It addresses the following five … setting trade policy? Finally, how liberalized is world trade? The analysis documents the extent of cross …

Persistent link: https://www.econbiz.de/10012936297

What?S Left for the WTO?

Bown, Chad P. - 2018

Suppose that when addressing the question of ?what?s left for the WTO?,? tariff negotiators relied not on the agenda established in 2001 but instead on the terms-of-trade theory of trade agreements to identify negotiating priorities. This paper uses the lens of the terms-of-trade theory to...

Persistent link: https://www.econbiz.de/10012936698

Is the WTO Passe?

Bagwell, Kyle - 2018

The WTO has delivered policy outcomes that are very different from those likely to emerge out of the recent wave of preferential trade agreements (PTAs). Should economists see this as an efficient institutional hand-off, where the WTO has carried trade liberalization as far as it can manage, and...

Persistent link: https://www.econbiz.de/10012937212

Negative Interest Rate Policies : Sources and Implications

Arteta, Carlos - 2017

Against the background of continued growth disappointments, depressed inflation expectations, and declining real equilibrium interest rates, a number of central banks have implemented negative interest rate policies (NIRP) to provide additional monetary policy stimulus over the past few years....

Persistent link: https://www.econbiz.de/10012968211

How Does the Sensitivity of Consumption to Income Vary Over Time? International Evidence

Islamaj, Ergys - 2017

This paper studies how the sensitivity of consumption to income has changed over time as the degree of financial integration has risen. In standard theory, greater financial integration facilitates international borrowing and lending, helping to reduce the sensitivity of consumption growth to...

Persistent link: https://www.econbiz.de/10012969266