Showing 1 - 10 of 96
Does international financial integration boost economic growth? The question has been discussed controversially for a long time, and a large number of studies has been devoted to its empirical investigation. As of yet, robust evidence for a positive impact of capital market integration on...
Persistent link: https://www.econbiz.de/10012781534
This paper asks whether developing countries can reap credibility gains from submitting policy to a strict monetary rule. Following earlier work, we look at the gold standard era (1880-1914) as a quot;natural experimentquot; to test whether adoption of a rule-based monetary framework such as the...
Persistent link: https://www.econbiz.de/10012759397
This paper reassesses the importance of colonial status to investors before 1914 by means of multivariable regression analysis of the data available to contemporaries. We show that British colonies were able to borrow in London at significantly lower rates of interest than non-colonies precisely...
Persistent link: https://www.econbiz.de/10012766093
Carbon tariffs are one prominently discussed climate policy. The proponents stress the carbon tariffs’ ability to restore competitiveness, avoid carbon leakage, and reduce world carbon emissions. We analyze the effects of carbon tariffs on trade, welfare, and carbon emissions in a structural...
Persistent link: https://www.econbiz.de/10011165507
This paper uses wavelets to develop a core inflation measure for inflation targeting central banks. The analysis is applied to the case of New Zealand – the country with the longest history of explicit inflation targeting. We compare the performance of our proposed measure against some popular...
Persistent link: https://www.econbiz.de/10005007502
In December 2009 the Reserve Bank of New Zealand, in conjunction with Northwestern University’s Centre for International Economics and Development (CIED), hosted a monetary policy conference to mark the 20th anniversary of the Reserve Bank of New Zealand Act. Passed in December 1989, the Act...
Persistent link: https://www.econbiz.de/10008502847
This paper uses wavelets to develop a core inflation measure for inflation targeting central banks. The analysis is applied to the case of New Zealand - the country with the longest history of explicit inflation targeting. We compare the performance of our proposed measure against some popular...
Persistent link: https://www.econbiz.de/10008870356
A compelling, but highly tractable, axiomatic foundation for intertemporal decision making is established and discussed. This axiomatic foundation relies on methods employed in cooperative bargaining theory. Four simple axioms imply that the intertemporal objective function is a weighted...
Persistent link: https://www.econbiz.de/10008674325
Consider an n-person bargaining problem where players bargain over the division of a cake whose size is stochastic. In such a game, the players are not only bargaining over the division of a cake, but they are also sharing risk. This paper presents the Nash bargaining solution to this problem,...
Persistent link: https://www.econbiz.de/10008674326
In this thesis, I set up a standard New Economic Geography model and estimate it in the regional context of the European Union. The analysis underlines the clear core-periphery structure of Europe, but also identifies forces that hint at a catching-up of lesser developed peripheral regions....
Persistent link: https://www.econbiz.de/10010898848