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Policy response to external shocks: Lessons from the crisis
Capistrán, Carlos; Cuadra, Gabriel; Ramos-Francia, Manuel - 2011
external financing and its negative effects on the domestic economy. The experience of emerging economies through the recent …
Persistent link: https://www.econbiz.de/10010322619
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Vietnam following in China's footsteps: The third wave of emerging Asian economies
Chaponnière, Jean-Raphael; Cling, Jean-Pierre; Zhou, Bin - 2008
Vietnam has been following China's path closely and very successfully for the last two decades, since the adoption of … the World Trade Organization (WTO). This paper addresses this question with regard to Vietnam, who joined the WTO at the … beginning of 2007: we study Vietnam's potential for sustainable growth and international integration. We start by briefly …
Persistent link: https://www.econbiz.de/10010273502
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International Trade & Domestic Growth: Determinants, Linkages and Challenges
2009
Persistent link: https://www.econbiz.de/10013370174
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China's Impact on Africa - the Role of Trade, FDI and Aid
Busse, Matthias; Erdogan, Ceren; Mühlen, Henning - 2014
We investigate the impact of Chinese activities in sub-Saharan African countries with respect to the growth performance of economies in that region. Using a Solow-type growth model and panel data for the period 1991 to 2011, we find that African economies that export natural resources have...
Persistent link: https://www.econbiz.de/10011918494
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International policy transmissions before and after establishing a monetary union
Rumler, Fabio - 1999
This paper analyzes the effects of the implementation of a monetary union on the international transmission of monetary and fiscal policies. A dynamic three-country general equilibrium model, exhibiting monopolistic competition and sticky prices, is used to show how asymmetric monetary and...
Persistent link: https://www.econbiz.de/10010291919
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The effects of legislated tax changes in Germany
Hayo, Bernd; Uhl, Matthias - 2011
This paper studies the short-run macroeconomic effects of legislated tax changes in Germany using a vector autoregression (VAR) approach. Identification of the tax shock follows the narrative approach recently proposed by Romer and Romer (2010). Results indicate a moderate, but statistically...
Persistent link: https://www.econbiz.de/10010286390
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The role of real wage rigidity and labor market frictions for unemployment and inflation dynamics
Christoffel, Kai; Linzert, Tobias - 2005
In this paper we incorporate a labor market with matching frictions and wage rigidities into the New Keynesian business cycle model. In particular, we analyze the effect of a monetary policy shock and investigate how labor market frictions affect the transmission process of monetary policy. The...
Persistent link: https://www.econbiz.de/10010267287
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Causal effects of monetary shocks: semiparametric conditional independence tests with a multinomial propensity score
Angrist, Joshua D.; Kuersteiner, Guido M. - 2008
Macroeconomists have long been concerned with the causal effects of monetary policy. When the identification of causal effects is based on a selection-on-observables assumption, non-causality amounts to the conditional independence of outcomes and policy changes. This paper develops a...
Persistent link: https://www.econbiz.de/10010270625
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Adjustment Is Much Slower Than You Think
Caballero, Ricardo J.; Engel, Eduardo M.R.A. - 2003
In most instances, the dynamic response of monetary and other policies to shocks is infrequent and lumpy. The same holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and prices. We show that the standard practice of estimating...
Persistent link: https://www.econbiz.de/10010369179
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Monetary policy and the current account: Theory and evidence
Hjortsoe, Ida; Weale, Martin; Wieladek, Tomasz - 2016
theoretically and empirically. We show that a standard open economy DSGE model predicts that the current account response to a …
Persistent link: https://www.econbiz.de/10011784597