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Chapter 9. Assessing International Efficiency
Heathcote, Jonathan; Perri, Fabrizio - In: Handbook of international economics : Volume 4, (pp. 523-584). 2014
This chapter is structured in three parts. The first part outlines the methodological steps, involving both theoretical and empirical work, for assessing whether an observed allocation of resources across countries is efficient. The second part applies the methodology to the long-run allocation...
Persistent link: https://www.econbiz.de/10014025377
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Growth Expectations, Capital Flows and International Risk Sharing
Castren, Olli; Stiegert, Roger; Miller, Marcus H. - 2021
Over the past decades, cross-border financial flows have increased in importance and have in many occasions exceeded the underlying current account positions. This phenomenon has been accompanied by an increase in the volume of international equity transactions that accentuate the role of...
Persistent link: https://www.econbiz.de/10013319734
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Essays in international macroeconomics
Scholl, Almuth - 2006
Persistent link: https://www.econbiz.de/10003315521
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Discussion of "Microeconomic uncertainty, international trade, and aggregate fluctuations"
Lustig, Hanno - In: Journal of monetary economics 69 (2015), pp. 39-41
Persistent link: https://www.econbiz.de/10011326721
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Global Long-run Risk and International Business Cycles : A Factor-Stochastic Volatility Approach
Figueiredo, Calebe - 2018
We extract a global factor from cross-country output growth since 1960. We find that the fluctuations of the global factor are typically small, with the annualized unconditional volatility estimated at 0.06%, but highly persistent, with estimated persistence at 0.98. Evidence of time variation...
Persistent link: https://www.econbiz.de/10012908986
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Discussion of "Capital mobility and international sharing of cyclical risk"
Aguiar, Mark - In: Journal of monetary economics 60 (2013) 1, pp. 63-65
Persistent link: https://www.econbiz.de/10009736276
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Domestic and global uncertainty : a survey and some new results
Castelnuovo, Efrem - 2019
Persistent link: https://www.econbiz.de/10012224541
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Endogenous Global Risk
Huang, Ji; Hu, Hao - 2022
The U.S. could be the source of the global financial risk because it longs risky assets and shorts safe assets in the international capital market. This paper builds a stylized two-country model to highlight that when the developed country's risk-bearing capacity improves, it holds more foreign...
Persistent link: https://www.econbiz.de/10013306985
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Global risk and the dollar
Georgiadis, Georgios; Müller, Gernot J.; Schumann, Ben - 2023
transmission of global risk to the world economy within a Bayesian proxy structural vectorautoregressive model. We identify global …, the contractionary impact of a global risk shock is much weaker, both in the rest of the world and the US. For the rest of … the world, contractionary financial channels thus dominate expansionary expenditure switching when global risk rises and …
Persistent link: https://www.econbiz.de/10014438127
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The feasible gains from international risk sharing
Eijffinger, Sylvester C. W.; Wagner, Wolf - 2001
We argue that since there are several impediments to international risk sharing, the welfare gains from full international risk sharing, which have been the object of analysis in the previous literature, are not suggestive. Instead, we study the gains from feasible risk sharing and find that...
Persistent link: https://www.econbiz.de/10011398778