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nations pattern of production and trade. We model an economy producing three goods; one is non-traded. Domestic labor and … model indicates that the output and trade effects of immigration depend importantly on the sector and nature of immigrant … employment. Empirical investigation of the models predictions indicates that trade and immigration are complements. …
Persistent link: https://www.econbiz.de/10005405356
German regional data (NUTS 1 level) for GDP, trade, and FDI activity during the period 1976-2005. Applying various … homogeneous and heterogeneous panel data estimators to a Spatial Panel Error Correction Model (SpECM) for regional output growth … of positive and negative effects of trade/FDI on output activity for a system of interconnected regions. …
Persistent link: https://www.econbiz.de/10011535894
Empirical analysis of exchange rates has produced puzzles that conventional models of exchange rates cannot explain. Here we deal with four puzzles regarding both real and nominal exchange rates, which are robust and inconsistent with standard theory. These puzzles are that both real and nominal...
Persistent link: https://www.econbiz.de/10005086556
Since the adoption of flexible exchange rates, real exchange rates have been much more volatile than they were under Bretton Woods. However, the volatilities of most other macroeconomic variables have remained approximately unchanged. This poses a puzzle for standard international business cycle...
Persistent link: https://www.econbiz.de/10005609375
This paper argues that the empirical trade-growth relationship should be modelled using a dynamic panel data approach … than previous results. They confirm the existence of a strong causal effect of trade on growth but fail to find evidence … for trade as an independent factor of divergence. Hence, one cannot blame trade as such for the disappointing performance …
Persistent link: https://www.econbiz.de/10009748287
Persistent link: https://www.econbiz.de/10010248515
Persistent link: https://www.econbiz.de/10012664763
estimation of trade elasticities. The elasticities we compute depend directly on the specialization of trade across sectors … elasticities for North Macedonia - i.e. trade elasticities relevant to policy - and ultimately to calibration choices. …
Persistent link: https://www.econbiz.de/10012266397
trade elasticities. The elasticities we compute depend directly on the specialization of trade across sectors, which is … North Macedonia - i.e. trade elasticities relevant to policy - and ultimately to calibration choices. The income and price …
Persistent link: https://www.econbiz.de/10012260864
Persistent link: https://www.econbiz.de/10013552609