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The impacts of global risk and US monetary policy on US Dollar exchange rates and excess currency returns
Bernoth, Kerstin; Herwartz, Helmut; Trienens, Lasse - 2023
We examine the causal relationship between US monetary policy shocks, exchange rates and currency excess returns for a sample of eight advanced countries over the period 1980M1 to 2022M11. We find that the dynamics of the US dollar exchange rate is the main driver of currency excess returns. The...
Persistent link: https://www.econbiz.de/10014305726
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Globalization & regionalization in international trade
Țigănașu, Ramona; Maha, Liviu George; Mursa, Claudiu … - In: CES working papers 1 (2009) 2, pp. 5-19
The concept of globalization refers to the growing interdependence of countries, resulting from the increasing integration of trade, finance, investments, labor markets and ideas in one globalmarketplace. The most important elements of this process are the international trade and the...
Persistent link: https://www.econbiz.de/10011992014
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Real and financial integration in East Asia
Kim, So-yŏng; Lee, Jong-Wha - 2008
We examine the real and financial integration of East Asian economies, comparing the degree of real versus financial integration, the degree of global versus regional integration, and the extent of integration before versus after the 1997/98 financial crisis in East Asian economies. We analyze...
Persistent link: https://www.econbiz.de/10011282132
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Estimating the Effects of Global Uncertainty in Open Economies
Delrio, Silvia - 2016
This paper investigates the effects of a global uncertainty shock in open economies and the role of country relative risk exposure in the transmission of the shock. We employ an Interacted VAR model to take the time-varying dimension of country relative risk exposure into account. Evidence of...
Persistent link: https://www.econbiz.de/10012984092
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Globalization and the Output-Inflation Tradeoff : New Time Series Evidence
Eijffinger, Sylvester C. W. - 2010
Recent cross-country studies on the globalization and output-inflation tradeoff correlation find openness has no significant effect on OECD countries. Those studies assume parameter constancy across countries. In this paper, we argue that this assumption does not hold for major industrialized...
Persistent link: https://www.econbiz.de/10013146796
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On the relationship between trade openness and government size
Farhad, Mohammad; Jetter, Michael - 2019
Does trade openness systematically imply bigger governments, as proposed by Rodrik (1998)? This paper presents a novel and more refined explanation for when and why international trade may enlarge the public sector. We propose that trade openness is associated with bigger governments if (i) the...
Persistent link: https://www.econbiz.de/10012103413
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Globalisation and inflation in OECD countries
Pehnelt, Gernot - 2007
During the last two decades, the world has experienced a remarkable process of disinflation, with average inflation rates in industrialized countries falling by 10 percentage points and an even sharper decline of the mean rate of inflation in developing countries. Parallel to the decline in...
Persistent link: https://www.econbiz.de/10011619033
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Threshold effects of openness on real and nominal effective exchange rates in emerging and developing economies
Keefe, Helena Glebocki; Saha, Sujata - In: The world economy : the leading journal on … 45 (2022) 5, pp. 1386-1408
Persistent link: https://www.econbiz.de/10013188200
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Does trade liberalization reduce poverty and inequality? : empirical evidence from Pakistan
Chaudhry, Imran Sharif; Imran, Fatima - In: Pakistan journal of commerce and social sciences 7 (2013) 3, pp. 569-587
This paper attempts to analyze the fact that is trade liberalization reducing poverty and income inequality in Pakistan … extensively in Pakistan may be due to some data constraints or due to some other reasons. Pakistan has endeavored to liberalize … its trade regime and integrate its market with the world, especially since late 1980s. Pakistan made significant efforts …
Persistent link: https://www.econbiz.de/10010344517
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Global business cycles: convergence or decoupling?
Kose, M. Ayhan; Otrok, Christopher M.; Prasad, Eswar S. - 2008
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups: industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...
Persistent link: https://www.econbiz.de/10010298739