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Capital Accumulation, Vintage and Productivity: The Japanese Experience

Hagiwara, Taiji; Matsubayashi, Yoichi - Faculty of Economics, Kobe University - 2014

We empirically examine the relationship between capital accumulation and vintage as well as the productivity of … industries in Japan from 1980 to 2007. Based on the empirical analyses, we confirmed that vintage exerted a significant influence …, where strong vintage effects were observed in all industries. The rejuvenation of capital equipment during this period …

Persistent link: https://www.econbiz.de/10010775065

Cross-Border Equity Investment and the Business Cycle

Amdur, David - 2009

I present new evidence that gross foreign assets and liabilities in equity investments, measured at market value, are positively correlated over the business cycle in each of the Group of Seven industrialized countries (G7). The close comovement of assets and liabilities, in turn, reflects...

Persistent link: https://www.econbiz.de/10013154331

Capital accumulation, vintage and productivity : the Japanese experience

Hagiwara, Taiji; Matsubayashi, Yoichi - In: The Singapore economic review : journal of the Economic … 64 (2019) 3, pp. 747-771

Persistent link: https://www.econbiz.de/10012126471

Booms and busts in Latin America : the role of external factors

Izquierdo, Alejandro (contributor); … - 2008

This paper analyzes the relevance of external factors in average quarterly GDP growth for 1990-2006 in the seven largest Latin American countries (LAC7). Modeling the relationship between LAC7 GDP and several external factors, it is found that those factors account for a significant share of...

Persistent link: https://www.econbiz.de/10003776415

Sudden stop regimes and output : a Markov switching analysis

Bachmann, Andreas; Leist, Stefan - 2013

Sudden stops in capital inflows were a main characteristic of the emerging market crisis during the 1990's. Concerns about them have recurred in the light of recently increased global stability risk and the quantitative easing that led to substantial capital inflows in emerging economies. We add...

Persistent link: https://www.econbiz.de/10010199563

Business cycles in emerging markets : the role of liability dollarization and valuation effects

Notz, Stefan; Rosenkranz, Peter - 2014

Understanding differences in business cycle phenomena between Emerging Market Economies (EMEs) and industrialized countries has been at the center of recent research on macroeconomic fluctuations. The purpose of this paper is to investigate the importance of certain credit market imperfections...

Persistent link: https://www.econbiz.de/10010402774

Productivity, preferences and UIP deviations in an open economy business cycle model

Bhattacharjee, Arnab (contributor); … - 2008

We show that a flex-price two-sector open economy DSGE model can explain the poor degree of international risk sharing and exchange rate disconnect. We use a suite of model evaluation measures and examine the role of (i) traded and non-traded sectors; (ii) financial market incompleteness; (iii)...

Persistent link: https://www.econbiz.de/10003746682

Trend Shocks and the Countercyclical U.S. Current Account

Amdur, David - 2012

From 1960-2009, the U.S. current account balance has tended to decline during expansions and improve in recessions. We argue that trend shocks to productivity can help explain the countercyclical U.S. current account. Our framework is a two-country, two-good real business cycle (RBC) model in...

Persistent link: https://www.econbiz.de/10013103623

Overborrowing and Systemic Externalities in the Business Cycle Under Imperfect Information

Herreño, Juan - 2020

We relax the perfect information assumption in a small open economy with collateral constraints. Under such a condition, households observe income growth but do not perceive whether the underlying shocks are permanent or transitory. Further, the likelihood and severity of financial crises are...

Persistent link: https://www.econbiz.de/10012834481

Emerging Market Business Cycles with Remittance Fluctuations

Durdu, Ceyhun Bora - 2008

This paper analyzes the implications of remittance fluctuations for various macroeconomic variables and Sudden Stops. The paper employs a quantitative two-sector model of a small open economy with financial frictions calibrated to Mexican and Turkish economies, two major recipients, whose...

Persistent link: https://www.econbiz.de/10012722749

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