Showing 1 - 10 of 299
This paper analyzes the causes and implications of recent financial crises. Financial crises in general lead to changes in both theory and practice of economics. The paper takes an historical overview. The global consensus of economic theory during the 20th century is discussed. The paper...
Persistent link: https://www.econbiz.de/10014180395
We study deforestation in a dynamic world trade system. We first document that between 1990-2020: (i) global forest area has decreased by 7.1 percent, with large heterogeneity across countries, (ii) deforestation is associated with expansions of agricultural land use, (iii) deforestation is...
Persistent link: https://www.econbiz.de/10015450905
The aim of this article is to point out the importance of education on a sustained economic development strategy, having into account inter-sector relations and the influence of education in the growth of production per head. Three cross-country models are presented to analyze the evolution of...
Persistent link: https://www.econbiz.de/10012770814
This paper defines a new approach to measuring global disparities in development. Instead of comparing some characteristic, X, of development between people in rich and poor countries, we propose to compare X for people in poor countries against pets (of the mammalian kind) in rich countries....
Persistent link: https://www.econbiz.de/10012731304
This article investigates the transnational flow of state, non-state and supranational norms governing over-the-counter (OTC) derivatives at both the contractual and regulatory levels. Our analysis reveals that the flow of these norms has fashioned a multi-layered transnational legal order. The...
Persistent link: https://www.econbiz.de/10012977024
The global economy is passing through a period of profound change. The immediate concern is with the financial crisis, originating in the North. The South is affected via reduced demand and lower prices for their exports, reduced private financial flows, and falling remittances. This is the...
Persistent link: https://www.econbiz.de/10013044065
This paper considers the general equilibrium relationship between exchange rates and global imbalances. It emphasizes that the exchange rate is not a primitive but an equilibrium price determined by the policy mix. It uses extensions of the two-country Obstfeld-Rogoff model to analyze the...
Persistent link: https://www.econbiz.de/10008937609
This paper reviews experience with currency convertibility on both the current and capital accounts, with particular attention to the Fund`s concepts and policy implications. After discussing the basic concepts of convertibility, the paper reviews the experience with convertibility in three...
Persistent link: https://www.econbiz.de/10012782096
We construct representative firm-level longitudinal data for twenty-seven European countries using financial statements from the Orbis global database, providing a “how-to” guide on the construction. We validate our dataset by comparing its aggregate coverage to official statis- tics and...
Persistent link: https://www.econbiz.de/10012903993
We test the risk taking channel of exchange rate appreciations using firm-level data from private and public firms in ten Asian emerging market economies during 2002-2015. Since foreign currency (FX) debt at the firm level is not observed for the Asian economies, we approximate the FX debt of a...
Persistent link: https://www.econbiz.de/10012923499