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Trade invoicing in the accession countries: Are they suited to the euro?
Goldberg, Linda S. - 2005
Countries aspiring to join the euro area—the so-called accession countries—are increasingly binding their economic activity, external and internal, to the euro-area countries. This phenomenon is observed in the currency invoicing of international trade transactions, where accession countries...
Persistent link: https://www.econbiz.de/10010283347
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How do exporters react to changes in cost competitiveness?
Decramer, Stefaan; Fuss, Catherine; Konings, Jozef - 2015
international export performance at the firm level. To this end, we use Belgian firm-level data for the period 1999-2010 to analyze … significant negative effect of unit labor costs on export performance of firms with an estimated elasticity of the intensive … costs reduce the probability of starting to export for non-exporters and increase the probability of exporters stopping …
Persistent link: https://www.econbiz.de/10011506796
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Towards a monetary policy evaluation framework
Adjemian, Stéphane; Darracq Pariès, Matthieu; Moyen, … - 2008
Advances in the development of Dynamic Stochastic General Equilibrium (DSGE) models towards medium-scale structural frameworks with satisfying data coherence have considerably enhanced the range of analytical tools well-suited for monetary policy evaluation. The present paper intends to make a...
Persistent link: https://www.econbiz.de/10011604988
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The effect of IMF and World Bank programmes on poverty
Easterly, William - 2001
Structural adjustment, as measured by the number of adjustment loans from the IMF and World Bank, reduces the growth elasticity of poverty reduction. Growth does reduce poverty, but I find no evidence for a direct effect of structural adjustment on growth. Instead, the poor benefit less from...
Persistent link: https://www.econbiz.de/10010279201
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The role of production sharing and trade in the transmission of the great recession
Wibe, Jacob - 2012
The great recession of 2008-2009 resulted in a large fall in trade relative to output. Real trade fell roughly three times more than real GDP in the U.S. and Mexico, and by a factor of five in Canada. The decline in trade and output was particularly large in sectors with high levels of...
Persistent link: https://www.econbiz.de/10010291901
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The role of expectations in sudden stops
Mertens, Karel - 2007
This paper presents a flexible-price small open economy model with a peso problem in productivity states. Agents rationally adjust their beliefs about future productivity growth after the arrival of news. A downward revision of expectations triggers a Sudden Stop, together with large declines in...
Persistent link: https://www.econbiz.de/10010292050
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Trade intensity and output synchronisation: On the endogeneity properties of EMU
Caporale, Guglielmo Maria; De Santis, Roberta; Girardi, … - 2013
Using annual bilateral data over the period 1988-2011 for a panel of 24 industrialised and emerging economies, we analyse in a time-varying framework the determinants of output synchronisation in EMU (European Monetary Union) distinguishing between core and peripheral member states. The results...
Persistent link: https://www.econbiz.de/10010292664
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Intertemporal budget policies and macroeconomic adjustment in a small open economy
Fisher, Walter H.; Bianconi, Marcelo - 2001
This paper analyzes the role of nominal assets in ranking intertemporal budget policies in a growing open economy. The budget policies are ranked in terms of the public's intertemporal stock of tax liabilities. Our main result is that, in a small open economy, the valuation of private and public...
Persistent link: https://www.econbiz.de/10010292787
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Have Consumption Risks in the G7 Countries Become Diversified?
Antonakakis, Nikolaos; Scharler, Johann - 2010
This paper studies the dynamics of international consumption risk sharing among the G7 countries. Based on the dynamic conditional correlation model due to Engle (2002), we construct a time-varying, consumption-based measure of risk sharing. We find that although the exposure to country-specific...
Persistent link: https://www.econbiz.de/10010294891