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The main research question of this empirical work is whether or not globalization, in its various forms, has had an impact upon international risk sharing. The empirical literature so far has only investigated on one aspect of globalization: economic and financial integration. By decomposing...
Persistent link: https://www.econbiz.de/10013112638
The paper examines the evolution of consumption patterns in Organization for Economic Co-operation and Development (OECD) countries from 1985 to 1999. Estimation of demand function parameters uncovered consistent evidence that differences in consumption patterns have recently diminished between...
Persistent link: https://www.econbiz.de/10014071054
This paper provides empirical evidence on Ireland's export performance in the context of increased globalisation over … examine patterns and changes of revealed comparative advantages for Ireland's exports of goods and services. We then … effects. Finally, to put Ireland’s export performance into perspective, we compare this evidence with recent developments in …
Persistent link: https://www.econbiz.de/10009722003
Persistent link: https://www.econbiz.de/10011657716
Tiny changes in the American monetary policy can have dramatic effects on the rest of the world because of dollar's double role of national and international currency. This is the Triffin dilemma. The paper shows how it works through three examples: price of commodities, dollarization, and the...
Persistent link: https://www.econbiz.de/10008648332
Recent literature has highlighted that international trade is mostly priced in a few key vehicle currencies, and is increasingly dominated by intermediate goods and global value chains (GVCs). Taking these features into account, this paper reexamines the business cycle dynamics of international...
Persistent link: https://www.econbiz.de/10012835093
In 2019, President Trump called on the U.S. Federal Reserve to cut interest rates to depreciate the U.S. dollar, which, according to the IMF, is overvalued by between 6 and 12 percent. This paper uses an intertemporal general equilibrium model to explore what would likely happen if the...
Persistent link: https://www.econbiz.de/10012840710
Using a new firm-level dataset on private and listed firms from 20 countries, we documentfive stylized facts on market power in global markets. First, competition has declinedaround the world, measured as a moderate increase in average firm markups during 2000-2015. Second, the markup increase...
Persistent link: https://www.econbiz.de/10012869288
There exist a plethora of developing country value chain studies based on a variety of methodological approaches, both in the academic literature and through policy reports. However, there has been little systematic synthesis of the findings and approaches taken in these studies. This study...
Persistent link: https://www.econbiz.de/10012590892
We analyze export data aggregated at world global level of 219 classes of products over a period of 39 years. Our main goal is to set up a dynamical model to identify and quantify plausible mechanisms by which the evolutions of the various exports affect each other. This is pursued through a...
Persistent link: https://www.econbiz.de/10012983101