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International risk-sharing and the transmission of productivity shocks
Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - 2004
the international transmission of productivity improvements generate the observed degree of risk-sharing: one associated …
Persistent link: https://www.econbiz.de/10009636531
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Growth expectations, capital flows and international risk sharing
Castrén, Olli; Miller, Marcus; Stiegert, Roger - 2003
to shocks. We use a stylised two-bloc, two-period model of the global economy, with a simple stochastic productivity … shock affecting only one country. Efficient global risk-sharing imply that expected productivity gains in one country will … for the productivity gains can further increase the risk exposure of foreign shareholders. The model is calibrated to show …
Persistent link: https://www.econbiz.de/10009635970
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Financial openness and growth
Fratzscher, Marcel; Bussiere, Matthieu - 2004
No empirical evidence has yet emerged for the existence of a robust positive relationship between financial openness and economic growth. This paper argues that a key reason for the elusive evidence is the presence of a time-varying relationship between openness and growth over time: countries...
Persistent link: https://www.econbiz.de/10009639402
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Chronicle of currency collapses
Bussière, Matthieu; Saxena, Sweta C.; Tovar, Camilo E. - 2010
The impact of currency collapses (i.e. large nominal depreciations or devaluations) on real output remains unsettled in the empirical macroeconomic literature. This paper provides new empirical evidence on this relationship using a dataset for 108 emerging and developing economies for the period...
Persistent link: https://www.econbiz.de/10009640314
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Financial frictions and optimal monetary policy in an open economy
Kolasa, Marcin; Lombardo, Giovanni - 2011
in our model if credit frictions are absent) becomes excessively procyclical in response to positive productivity shocks … productivity shocks relative to foreign, the closer the PPI-stability policy is to the optimal policy and the farther is the …
Persistent link: https://www.econbiz.de/10009640777
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Fiscal policy and growth
Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010
In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...
Persistent link: https://www.econbiz.de/10009640323
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Financial remoteness and the net external position
Schmitz, Martin - 2011
This paper shows that, controlling for standard determinants of net external positions, financially-remote countries exhibit more positive net external positions. This finding is found to be stronger for less advanced countries, hinting at external funding problems for more remote countries....
Persistent link: https://www.econbiz.de/10009640769
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Social dialogue and working conditions
European Foundation for the Improvement of Living and …; … - 2011
improving the quality and productivity of work could lead to more as well as better jobs. This study is based on 23 case studies …
Persistent link: https://www.econbiz.de/10011894772
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EU productivity and competitiveness: an industry perspective
O'Mahony, Mary (contributor); Ark, Bart van (contributor) - Europäische Kommission / Generaldirektion Unternehmen; … - 2003
Persistent link: https://www.econbiz.de/10009635931
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Creative destruction and transition: The effects of firm entry and exit on productivity growth in Estonia
Masso, Jaan; Eamets, Raul; Philips, Kaia - 2004
firm entry and exit as well as survival analysis of new firms. Also, decompositions of productivity change into components … consisting of resource reallocation, firm entry and exit, and productivity growth within continuing firms are carried out. The … productivity compared to incumbent firms and changes in the sectoral structure of the economy. The decomposition of productivity …
Persistent link: https://www.econbiz.de/10009636560