Purpose - This article aims to investigate the influence of unconventional monetary policy tools (UMPTs) employed by the European Central Bank (ECB) on the inflation rate and GDP growth rate within the euro area, motivated by the principles of the Taylor rule. Research methodology - Elastic net...

We construct, and then estimate by maximum likelihood, a tractable dynamic stochastic general equilibrium model with incomplete insurance and heterogenous agents. The key feature of our framework is that cross-sectional heterogeneity remains finite dimensional. The solution to the model thus...

The U.S. real effective exchange rate is at its highest level since 1985. In that year, the U.S. and its trading partners coordinated a depreciation of the dollar and the U.S. agreed to reduce its budget deficit. This paper reports that a dollar depreciation today would still improve U.S. trade...

Purpose The purpose of this study is to explore how the development of digital trade can provide new development prospects to China's foreign trade under the background of the gradual expansion of China's digital economy and the further release of policy dividends. Design/methodology/approach...

The objective of this paper is to revisit key themes of development literature in the light of novel emerging approaches. Applying complexity economic tools, evidence is presented to argue that, along the development trajectory of countries, a complexity increase, to be sustainable, must go hand...

This study examines the impact of the COVID-19 pandemic on global stock markets by comparing developed and developing economies, while highlighting regional differences. Using dynamic panel regression models, this study explores the role of pandemic-related variables, fiscal policies, and...

The trade policies of the new Trump Administration will lead to job losses and higher consumer prices. Moreover, the emphasis on bilateral trade balances is likely to be restrictive. The current protectionist tide is due to the lack of an honest public debate about the potential benefits of free...

This article analyzes the role of trade and financial integration, productive specialization and monetary policies in the synchronization of business cycles in North America from a long-run perspective. For this purpose, we estimate seemingly unrelated regression (SUR) models and Granger...

In the present work we try to find out whether the existence of positive international externalities generates an incentive for cooperation between governments and if the adoption of a transfer payments scheme moderates that intensive. We adopt a simple economic model incorporating the...