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Long- and short-run current account balance (CAB) determinants of the nineteen Eurozone (EZ) member states vis …
Persistent link: https://www.econbiz.de/10014287573
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...
Persistent link: https://www.econbiz.de/10012871658
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...
Persistent link: https://www.econbiz.de/10011999069
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and its relevance has suddenly increased further, after the recent Covid-19 shock. The analysis of fiscal stabilization in the United States, a monetary...
Persistent link: https://www.econbiz.de/10014084756
Persistent link: https://www.econbiz.de/10009747643
We analyze the global imbalances and the required adjustments for rebalancing in current accounts and real exchange rates. We set up a two-country two-sector model for the US-China with two asymmetries. First, we assume that the size of China initially is one third of the US but its size becomes...
Persistent link: https://www.econbiz.de/10009407603
We study international business cycles and capital flows in the UK, the United States and the Emerging Periphery in the period 1885-1939. Based on the same set of parameters, our model explains current account dynamics under both the Classical Gold Standard and during the Interwar period. We...
Persistent link: https://www.econbiz.de/10009741030
Persistent link: https://www.econbiz.de/10009499831
period 1983-2009. We experiment with inter-country links that distinguish bilateral trade, portfolio investment, foreign … direct investment and banking exposures, as well as asset-side vs. liability-side financial channels. Capturing both … bilateral trade and inward foreign direct investment or outward banking claim exposures in a GVAR fits the data better than …
Persistent link: https://www.econbiz.de/10009389753
In light of 50 years of economic policies designed to integrate Europe - culminating in the elimination of euro zone national currencies in early 2002 - and a vast academic literature on international economic integration, it is of interest to assess how far European integration has come in...
Persistent link: https://www.econbiz.de/10014104250