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Capital Accumulation, Vintage and Productivity: The Japanese Experience

Hagiwara, Taiji; Matsubayashi, Yoichi - Faculty of Economics, Kobe University - 2014

We empirically examine the relationship between capital accumulation and vintage as well as the productivity of … industries in Japan from 1980 to 2007. Based on the empirical analyses, we confirmed that vintage exerted a significant influence …, where strong vintage effects were observed in all industries. The rejuvenation of capital equipment during this period …

Persistent link: https://www.econbiz.de/10010775065

Convergence, capital accumulation and the nominal exchange rate

Benczur, Peter; Konya, Istvan - In: Journal of International Money and Finance 37 (2013) C, pp. 260-281

This paper develops a flexible price, two-sector growth model with a nominal side to study the role of the exchange rate in transition dynamics. We adopt a standard small open economy model with traded and nontraded goods, where the engines of growth are exogenous productivity improvements and...

Persistent link: https://www.econbiz.de/10010869435

Fiscal Policy and Macroeconomic Imbalances

Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014

The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...

Persistent link: https://www.econbiz.de/10011277938

The Macroeconomic Effects of Reserve Requirements

Glocker, Ch.; Towbin P. - Banque de France - 2012

Monetary authorities in emerging markets are often reluctant to raise interest rates when dealing with credit booms driven by capital inflows, as they fear that an increase attracts even more capital and appreciates the currency. A number of countries therefore use reserve requirements as an...

Persistent link: https://www.econbiz.de/10010540385

Investment-Saving Comovement and Capital Mobility: Evidence from Century Long U.S. Time Series

Levy, Daniel - EconWPA - 2005

This paper makes three contributions: First, I construct annual time series of gross domestic investment and national saving in the U.S. for the 1897–1949 period using historical component series. I compare the qualitative and quantitative properties of the newly constructed series with the...

Persistent link: https://www.econbiz.de/10005408170

Revisiting business cycles in the Eurozone: A fuzzy clustering and discriminant approach

Quah, Chee-Heong - In: Acta Oeconomica 64 (2014) June, pp. 161-180

The first part of analysis draws out homogenous clusters of countries out of the 27 EU states based on their business cycle synchronicities with the euro area (EA) 12, quantified by correlations of cycles between the 27 countries’ GDP components and the EA12’s GDP1. The purpose is to compare...

Persistent link: https://www.econbiz.de/10011094472

Technology adoption and accumulation in a vintage-capital model

Barucci, Emilio; Gozzi, Fausto - In: Journal of Economics 74 (2001) 1, pp. 1-38

Persistent link: https://www.econbiz.de/10005715581

Uncertainty About the Fundamentals and the Occurrence of Sudden Stops of Capital Flows : Theory and Empirics

Köhler-Geib, Friederike (Fritzi) N. - 2009

We analyse the effect of the uncertainty about the fundamentals on the probability of sudden stops of capital flows from a theoretical and empirical perspective. Our model predicts that the probability of crises increases with the uncertainty, ie. the dispersion of private signals about the true...

Persistent link: https://www.econbiz.de/10012721410

Valuation Effects with Transitory and Trend Output Shocks

Nguyen, Ha Minh - 2008

This paper investigates the role of valuation effects on a country's net foreign asset position. It shows that following transitory output shocks, valuation effects are stabilizing; they counteract current account movements and mitigate the impact of the current account on a country's net...

Persistent link: https://www.econbiz.de/10012722724

The Composition of Capital Inflows When Emerging Market Firms Face Financing Constraints

Smith, Katherine A. - 2007

The composition of capital inflows to emerging market economies tends to follow a predictable dynamic pattern across the business cycle. In most emerging market economies, total inflows are procyclical, with debt and portfolio equity flowing in first, followed later in the expansion by foreign...

Persistent link: https://www.econbiz.de/10012728719

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