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The finnish great depression: from Russia with love
Gorodnichenko, Yuriy; Mendoza, Enrique G.; Tesar, Linda L. - 2009
During the period 1991-93, Finland experienced the deepest economic downturn in an industrialized country since the … of Soviet-Finnish trade can explain key features of Finland's Great Depression. We also show that Finland's Great … similar trade collapse. However, as a western democracy with developed capital markets and institutions, Finland faced none of …
Persistent link: https://www.econbiz.de/10010268947
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Finland's experiences and challenges in the euro zone
Kotilainen, Markku - 2006
In this paper we study Finland’s way to the Economic and Monetary Union (EMU) and her economic development as a member … discussion for and against it. Then we describe Finland’s economic performance in the Euro zone. The main part of the paper …, and fiscal policy. Finland is analysed in the context of other EMU and EU countries, so the paper includes comparisons …
Persistent link: https://www.econbiz.de/10010285079
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What drives business cycles and international trade in emerging market economies?
Sánchez, Marcelo - 2007
This paper investigates the role of domestic and external factors in explaining business cycle and international trade developments in fifteen emerging market economies. Results from signrestricted VARs show that developments in real output, inflation, real exchange rates and international trade...
Persistent link: https://www.econbiz.de/10011604776
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Regionalization vs. Globalization
Hirata, Hideaki; Kose, M. Ayhan; Otrok, Christopher - 2013
Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the...
Persistent link: https://www.econbiz.de/10010500234
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Business cycles, international trade and capital flows: Evidence from Latin America
Caporale, Guglielmo Maria; Girardi, Alessandro - 2012
This paper adopts a flexible framework to assess both short- and long-run business cycle linkages between six Latin American (LA) countries and the four largest economies in the world (namely the US, the Euro area, Japan and China) over the period 1980:I-2011:IV. The result indicate that within...
Persistent link: https://www.econbiz.de/10010289807
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Debt overhang and the macroeconmics of carry trade
van Wijnbergen, Sweder J.G.; Jakucionyte, Egle - 2017
The depreciation of the Hungarian forint in 2009 left Hungarian borrowers with a skyrocketing value of foreign currency debt. The resulting losses worsened debt overhang in to debt-ridden firms and eroded bank capital. Therefore, although Hungarian banks had partially isolated their balance...
Persistent link: https://www.econbiz.de/10011586730
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Economic-social interaction in China
Lindbeck, Assar - 2008
This paper analyzes economic-social interaction in China in connection with the country's change of economic system. I define an economic system in terms of a multidimensional vector of broad institutional characteristics, and I emphasize that important features of the social development are...
Persistent link: https://www.econbiz.de/10010264279
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Social security, labour market and restructuring: Current situation and expected outcomes of reforms
Góra, Marek; Kula, Grzegorz; Rokicka, Magdalena; … - 2009
earnings between men and women in Russia caused by sector segregation account for seem to be more important than the gap …
Persistent link: https://www.econbiz.de/10010326593
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Are interregional wage differentials in Russia compensative?
Oshchepkov, Aleksey - 2007
Interregional differentials in nominal wages in the Russian Federation are huge compared to other countries. Using the NOBUS micro-data and a methodology based on the estimation of the wage equation augmented by aggregate regional characteristics, we show that these differentials have a...
Persistent link: https://www.econbiz.de/10010264987
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Does labor supply respond to a flat tax? Evidence from the Russian tax reform
Duncan, Denvil; Sabirianova, Klara Z. - 2009
We exploit the exogenous change in marginal tax rates created by the Russian flat tax reform of 2001 to identify the effect of taxes on labor supply of males and females. We apply the weighted difference-in-difference regression approach and instrumental variables to the labor supply function...
Persistent link: https://www.econbiz.de/10010269214