Narrow search
Showing 1 - 10 of 43,203
Cover Image
Does foreign direct investment synchronise business cycles? : results from a panel approach
Fries, Claudia; Kappler, Marcus - 2013
A considerable degree of business cycle synchronization is key to a successful operating currency union. The European Monetary Union as well as many other countries strives to attract foreign direct investment (FDI) because of its reputation as being highly beneficial for the host economy. But...
Persistent link: https://www.econbiz.de/10010432451
Cover Image
Common Trade Exposure and Business Cycle Comovement
Avila-Montealegre, Oscar; Mix, Carter - 2021
A large empirical literature has shown that countries that trade more with each other have more correlated business cycles. We show that previous estimates of this relationship are biased upward because they ignore common trade exposure to other countries. When we account for common trade...
Persistent link: https://www.econbiz.de/10013231944
Cover Image
Common Trade Exposure and Business Cycle Comovement
Avila-Montealegre, Oscar; Mix, Carter - 2022
A large empirical literature has shown that countries that trade more with each other have more correlated business cycles. We show that previous estimates of this relationship are biased upward because they ignore common trade exposure to other countries. When we account for common trade...
Persistent link: https://www.econbiz.de/10013291764
Cover Image
Trade in commodities and business cycle volatility
Kohn, David; Leibovici, Fernando; Tretvoll, Hakon - 2018
This paper studies the role of differences in the patterns of production and international trade on the business cycle volatility of emerging and developed economies. We study a multi-sector small open economy in which firms produce and trade commodities and manufactures. We estimate the model...
Persistent link: https://www.econbiz.de/10011911446
Cover Image
How important are global factors for understanding the dynamics of international capital flows?
Eller, Markus; Huber, Florian; Schuberth, Helene - 2018
We propose a dynamic factor model with time-varying parameters and stochastic volatility to analyze the relationship between global factors and country-specific capital flow dynamics. Studying a global sample of 43 countries from 1994 until 2015, we show that global co-movement of macroeconomic,...
Persistent link: https://www.econbiz.de/10011929696
Cover Image
Financial integration and international shock transmission : the terms-of-trade effect
Krenz, Johanna - 2023
What are the effects of financial integration on global comovement? Using a standard two-country DSGE model, I show that in response to country-specific supply shocks higher exposure to foreign assets leads to lower cross-country output correlations, while the opposite is true for...
Persistent link: https://www.econbiz.de/10014463371
Cover Image
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
Cover Image
Foreign customer accumulation and export dynamics
Tjaden, Volker - 2013
I present a dynamic fixed cost model of export participation extended by a capital theoretic concept of the customer stock. Plants that want to start exporting have to invest into a market specific factor which serves as input into a decreasing returns to scale technology generating sales...
Persistent link: https://www.econbiz.de/10010191654
Cover Image
World, country, and sector factors in international business cycles
Karadimitropoulou, Aikaterini; León-Ledesma, Miguel A. - 2013
model. The model contains a world factor, country-specific factors, sector-specific factors, and idiosyncratic components … country-factors. The world factor appears to play a minimal role because, when using aggregate data, the world factor captures … in the volatility of world shocks during the globalization period, rather than a lower sensitivity of sectoral growth to …
Persistent link: https://www.econbiz.de/10009744615
Cover Image
What has caused global business cycle decoupling : smaller shocks or reduced sensitivity?
Berger, Tino; Richter, Julia - 2017
According to a growing body of empirical literature, global shocks have become less important for business cycles in industrialized countries and emerging market economies since the mid-1980s. In this paper, we analyze the question of what might have caused a decoupling from the global business...
Persistent link: https://www.econbiz.de/10011584095