Similar Search Results

Habit formation in an interdependent world economy

Ikeda, Shinsuke; Gombi, Ichiro - 2004

Economic interdependence of heterogeneous habit forming consumers is examined by using a two-country model. Due to endogenous interest rate adjustments, consumption-habit dynamics in one country are affected by the other country's habits and preferences. To characterize the interactive dynamics,...

Persistent link: https://www.econbiz.de/10010332278

Propagation of nominal shocks in open economies

Andersen, Torben M.; Beier, Niels C. - 2002

Empirical evidence documents substantial persistence in the adjustment process to nominal shocks. Existing open-economy models have failed either to generate interesting dynamics or found that the mechanisms are quantitatively weak. We consider the propagation of nominal shocks in a fully...

Persistent link: https://www.econbiz.de/10010321231

Corruption, seigniorage and growth: theory and evidence

Blackburn, Keith; Neanidis, Kyriakos C.; Haque, M. Emranul - 2008

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the …

Persistent link: https://www.econbiz.de/10010264401

Are stationary hyperinflation paths learnable?

Adam, Klaus; Evans, George W.; Honkapohja, Seppo - 2003

Earlier studies of the seigniorage inflation model have found that the high-inflation steady state is not stable under …

Persistent link: https://www.econbiz.de/10010298287

Could capital gains smooth a current account rebalancing?

Cavallo, Michele; Tille, Cedric - 2006

A narrowing of the U.S. current account deficit through exchange rate movements is likely to entail a substantial depreciation of the dollar, as stressed in research by Obstfeld and Rogoff. We assess how the adjustment is affected by the high degree of financial integration in the world economy....

Persistent link: https://www.econbiz.de/10010283335

Current account benchmarks for central and eastern Europe: a desperate search?

Ca' Zorzi, Michele; Chudik, Alexander; Dieppe, Alistair - 2009

This paper examines two competing approaches for calculating current account benchmarks, i.e. the external sustainability approach á la Lane and Milesi-Ferretti (LM) versus the structural current accounts literature (SCA) based on panel econometric techniques. The aim is to gauge the medium...

Persistent link: https://www.econbiz.de/10011605041

Heterogeneous habits and the transfer paradox

Gombi, Ichiro; Ikeda, Shinsuke - 2001

By using a two-country model with habit-forming consumers, this paper shows that the transfer paradox can take place in the free-trade, dynamically-stable world economy. When the debtor is more habituated to consumption than the creditor, an income transfer from the creditor to the debtor raises...

Persistent link: https://www.econbiz.de/10010332351

Price rigidity, the mark-up and the dynamics of the current account

Lombardo, Giovanni - 2002

Der vorliegende Beitrag zeigt, dass der Grad der Wettbewerbsintensität die Reaktion der Leistungsbilanz auf nominale … Leistungsbilanz. Zunächst wird das Verhältnis zwischen dem Mark-up und der realen Rigidität in einem einfachen Modell einer … geschlossenen Volkswirtschaft untersucht. Anschließend wird numerisch dargestellt, wie der Mark-up die Reaktion der Leistungsbilanz …

Persistent link: https://www.econbiz.de/10010295731

Asset Accumulation, Fertility Choice and Nondegenerate Dynamics in a Small Open Economy

Petrucci, Alberto - 2004

This paper shows that the assumption of elastic fertility choices represents an unconsidered way of introducing nondegenerate dynamics within an immortal small open economy, facing perfect capital mobility and no adjustment costs associated with capital accumulation, and having a fixed discount...

Persistent link: https://www.econbiz.de/10011325004

Importzoll, Beschäftigung und Leistungsbilanz: ein mikrofundierter Ansatz

Bleich, Torsten - 2004

Der vorliegende Beitrag untersucht die Wirkungen eines Importzolls auf die Beschäftigung und die Leistungsbilanz der … Fundierung des verwendeten Modells im Mittelpunkt. Die Wirkungen eines Importzolls auf die Beschäftigung und die Leistungsbilanz … Beschäftigung. Der Importzoll verbessert die Leistungsbilanz. …

Persistent link: https://www.econbiz.de/10010263430

1
2
3
4
5
6
7
8
9
10
Next
Last