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How does an unexpected domestic monetary expansion a.ect the foreign economy? Does it induce an increase or a decline in foreign production? In the traditional two-country Mundell-Fleming model, monetary policy has «beggar-thy-neighbor» effects. Yet, empirical evidence from VARs indicates that...
Persistent link: https://www.econbiz.de/10005731487
How does an unexpected domestic monetary expansion affect the foreign economy? Does it induce an increase or a decline in foreign production? In the traditional two-country Mundell-Fleming model, monetary policy reveals 'beggar-thy-neighbour' effects. Yet, empirical evidence from VARs indicates...
Persistent link: https://www.econbiz.de/10005808573
In this paper, it is argued that the observed high positive correlation between national savings and investment which is found in the data can in part be explained by shocks to monetary policy. This hypothesis, which is established by reviewing some empirical findings, is tested in a two-country...
Persistent link: https://www.econbiz.de/10005714981
Persistent link: https://www.econbiz.de/10009341095
Persistent link: https://www.econbiz.de/10010157891
Persistent link: https://www.econbiz.de/10007587924
Recent literature proposes many variables as significant determinants of pollution. This paper gives an overview of this literature and asks which of these factors have an empirically robust impact on water and air pollution, i.e. do not depend upon the conditioning information set. For this, we...
Persistent link: https://www.econbiz.de/10005515968
This paper investigates the income convergence among Russian regions in the period 1998- 2006. It makes two major contributions to rather extensive literature on the regional con- vergence in Russia. First, it identifies spatial regimes using the exploratory spatial data analysis. Second, it...
Persistent link: https://www.econbiz.de/10005515969
The paper draws on Baumol’s (1967) model of «unbalanced growth» to show that pressing economic problems of mature economies such as declining growth rates of real GDP, an increasing government share in GDP and the «cost explosion» in health care can readily be explained – yet they cannot...
Persistent link: https://www.econbiz.de/10005515970
This paper examines how robust economic, political, and demographic variables are related to water and air pollution. Employing Bayesian Averaging of Classical Estimates (BACE) for a cross section of up to 74 countries, 33 variables and 3 proxies for air and water pollution over a period from...
Persistent link: https://www.econbiz.de/10005515971