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While the 2008-2009 financial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and financial markets, what can account...
Persistent link: https://www.econbiz.de/10010222107
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10011984813
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10011975657
I present a dynamic fixed cost model of export participation extended by a capital theoretic concept of the customer stock. Plants that want to start exporting have to invest into a market specific factor which serves as input into a decreasing returns to scale technology generating sales...
Persistent link: https://www.econbiz.de/10010332663
While the 2008-2009 fi nancial crisis originated in the United States, we witnessed steep declines in output, consumption and investment of similar magnitudes around the globe. This raises two questions. First, given the observed strong home bias in goods and fi nancial markets, what can account...
Persistent link: https://www.econbiz.de/10009751195
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10012968486
through them. The results suggest credit disruption as the primary contagion driver, rather than the trade channel. Given this … substantial degree of financial contagion, I run a series of counterfactuals studying the efficacy of capital controls and find … that they would be a useful tool for preventing similarly severe contagion in the future, as long as there is not capital …
Persistent link: https://www.econbiz.de/10013003813
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10013248855
I present a dynamic fixed cost model of export participation extended by a capital theoretic concept of the customer stock. Plants that want to start exporting have to invest into a market specific factor which serves as input into a decreasing returns to scale technology generating sales...
Persistent link: https://www.econbiz.de/10010191654
The international business cycle is very important for Latin America's economic performance as the recent global crisis vividly illustrated. This paper investigates how changes in trade linkages between China, Latin America, and the rest of the world have altered the transmission mechanism of...
Persistent link: https://www.econbiz.de/10010278334