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Exposure to International Crises : Trade vs. Financial Contagion
Grant, Everett - 2017
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10012968486
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Exposure to International Crises : Trade vs. Financial Contagion
Grant, Everett - 2016
through them. The results suggest credit disruption as the primary contagion driver, rather than the trade channel. Given this … substantial degree of financial contagion, I run a series of counterfactuals studying the efficacy of capital controls and find … that they would be a useful tool for preventing similarly severe contagion in the future, as long as there is not capital …
Persistent link: https://www.econbiz.de/10013003813
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Exposure to International Crises : Trade vs. Financial Contagion
Grant, Everett - 2021
primary contagion driver, rather than the trade channel. Given the substantial degree of financial contagion, I run a series … similarly severe contagion in the future, so long as there is not capital immobility to the degree that the local sovereign can …
Persistent link: https://www.econbiz.de/10013248855
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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
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Economic integration and the exchange rate regime : how damaging are currency crises?
Weber, Axel A.; Beck, Günter W. - 2003 - This version: October 2003
We use consumer price data for 205 cities/regions in 21 countries to study PPP deviations before, during and after the major currency crises of the 1990s. We combine data from industrialized nations in North America (Unites States, Canada and Mexico), Europe (Germany, Italy, Spain and Portugal),...
Persistent link: https://www.econbiz.de/10009767677
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Commodities and International Business Cycles
Kim, Myunghyun - 2018
I introduce commodities and countries' different commodity trade structures into an otherwise standard two-country model to analyze international business cycles between the U.S. and commodity-exporting countries. In the model, only the foreign country (the commodity-exporting country) produces...
Persistent link: https://www.econbiz.de/10012906281
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Does the Number of Countries in an International Business Cycle Model Matter?
Kim, Myunghyun - 2019
Until the 1990s, standard models with two large open economies (i.e. the U.S. and Europe) provided plausible representations of the world economy. However, with the emergence of many countries such as China since then, this approach no longer seems reasonable. In line with this change to the...
Persistent link: https://www.econbiz.de/10012872329
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International transmission of credit shocks in an equilibrium model with production heterogeneity
Imura, Yuko; Thomas, Julia K. - 2015
Many policy-makers and researchers view the recent financial and real economic crises across North America, Europe and beyond as a global phenomenon. Some have argued that this global recession has a common source: the U.S. financial crisis. This paper investigates the extent to which a credit...
Persistent link: https://www.econbiz.de/10011280030
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Good news is bad news : leverage cycles and sudden stops
Akinci, Ozge; Chahrour, Ryan - 2015
We show that a model with imperfectly forecastable changes in future productivity and an occasionally binding collateral constraint can match a set of stylized facts about "sudden stop" events. "Good" news about future productivity raises leverage during times of expansion, increasing the...
Persistent link: https://www.econbiz.de/10011338832
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Good News Is Bad News : Leverage Cycles and Sudden Stops
Akinci, Ozge - 2015
We show that a model with imperfectly forecastable changes in future productivity and an occasionally binding collateral constraint can match a set of stylized facts about “sudden stop” events. “Good” news about future productivity raises leverage during times of expansion, increasing...
Persistent link: https://www.econbiz.de/10013014942