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This paper discusses whether the integration of international financial markets affects business cycle fluctuations. In the framework of a new open economy macro-model, we show that the link between financial openness and business cycle volatility depends on the nature of the underlying shock....
Persistent link: https://www.econbiz.de/10011475038
Interest rates in China are composed of a mix of both market-determined interest rates (interbank rates and bond yields …), and regulated interest rates (retail lending and deposit rates), reflecting China's gradual process of interest rate … liberalization. This paper investigates the main drivers of China's interbank rates by developing a stylized theoretical model of …
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World trade evolves at two margins. Where a bilateral trading relationship already exists it may increase through time (intensive margin). But trade may also increase if a trading bilateral relationship is newly established between countries that have not traded with each other in the past...
Persistent link: https://www.econbiz.de/10011450770
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of trade openness on inequality in China and transition countries. …
Persistent link: https://www.econbiz.de/10012599018
We use a large sample of German workers to analyze the effect of low-wage competition with China and Eastern Europe …
Persistent link: https://www.econbiz.de/10011572540