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Corporate saving in global rebalancing
Bacchetta, Philippe; Benhima, Kenza - 2014
interest rates. Contrary to common wisdom, a slowdown in the Emerging market implies a trade balance improvement in the …
Persistent link: https://www.econbiz.de/10010376442
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Corporate Debt, Capital Flows, and International Business Cycles
Trani, Tommaso - 2019
changes in the terms of trade. The financial frictions and shocks can be calibrated to match the reduced equity home bias …
Persistent link: https://www.econbiz.de/10012898191
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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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The International Business Cycle as Intertemporal Coordination Failure
Bilo, Simon - 2015
Where investments are irreversible and future uncertain, people in two countries can make investment decisions that turn out to be mutually inconsistent. I argue that this intertemporal coordination failure explains international business cycles in a two-currency-area setting. The sequence of...
Persistent link: https://www.econbiz.de/10013012720
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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 …
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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Can Indeterminacy and Self-Fulfilling Expectations Help Explain International Business Cycles? A Preliminary Investigation
McKnight, Stephen - 2016
indeterminacy model can also resolve the Backus-Smith puzzle without requiring a low value of the trade elasticity …
Persistent link: https://www.econbiz.de/10013004783
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Financial Frictions and the International Transmission of Shocks
Park, Woong Yong - 2019
This study presents a two-good, two-country model with financial frictions, where banks facing a borrowing constraint intermediate funds between households and firms. The endogenous fluctuations of international relative prices increase the business cycle co-movement across countries when...
Persistent link: https://www.econbiz.de/10012858531
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Why should the world care? : analysis, mechanisms and spillovers of the destination based border adjusted tax
Baumann, Ursel; Dieppe, Alistair; Dizioli, Allan Gloe - 2017
spillovers could be strongly negative and world trade could decline substantially. …
Persistent link: https://www.econbiz.de/10011699419
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Financing Multinationals
Fan, Jingting - 2020
direct investment (FDI). The model generates empirically consistent relationships between FDI, multinational production (MP … financial market conditions account for a sizable fraction of the rapid growth in global FDI prior to 2008 and the slowdown … afterward. Overlooking the technology content of MNCs understates the welfare gains from FDI; overlooking the capital content …
Persistent link: https://www.econbiz.de/10012849821