Showing 111 - 120 of 257
The home market effect (HME) is commonly defined as a more than proportional positive causation from demand to supply. Recent theoretical literature, however, shows that the traditional definition highlighted within two-country framework does not always survive in higher dimensional settings....
Persistent link: https://www.econbiz.de/10005755405
The dynamic general equilibrium model with hiring costs presented in this paper delivers involuntary unemployment in the steady state and involuntary fluctuations in unemployment. After calibrating the model, through simulations we are able to show that our model with labour market imperfections...
Persistent link: https://www.econbiz.de/10005755406
This paper describes a mechanism by which the government manages to hold the appointed monetary authorities accountable for their policies. Asymmetric information about central bank's preferences proxies the "democratic deficit", evoked to justify the call for accountability. Three main results...
Persistent link: https://www.econbiz.de/10005755407
Morris and Shin (2002) have shown that a central bank may be too transparent if the private sector pays too much attention to its possible imprecise signals simply because they are common knowledge. In their model, the central bank faces a binary choice: to reveal or not to reveal its...
Persistent link: https://www.econbiz.de/10005755409
Traditionally the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions has been the main source of information about the exchange-rate policies pursued by member countries. The classification contained therein has been used to document the evolution of exchange rate regimes...
Persistent link: https://www.econbiz.de/10005755411
As environmental issues have become increasingly important in economic research and policy for sustainable development, firms in the private sector have introduced environmental and social issues in conducting their business activities. Such behaviour is tracked by the Dow Jones Sustainable...
Persistent link: https://www.econbiz.de/10005755412
This paper is an empirical research of a monetary policy rule for a small open economy model, taking Switzerland as a case-study. A time-varying parameter model of a monetary policy reaction function is proposed to integrate various trade-offs to be made about various macroeconomic variables --...
Persistent link: https://www.econbiz.de/10005755413
This paper uses a semi-structural vector autoregression approach to estimate the relative importance of domestic and foreign shocks as sources of macroeconomic fluctuations in Hong Kong since the adoption of the currency board. We find that external factors are clearly dominant in the medium- to...
Persistent link: https://www.econbiz.de/10005755414
This paper examines the relative importance of global and domestic factors as a source of macroeconomic fluctuations in Brazil from 1995 to 2004. US and Brazilian credit spreads are encompassed in a near-VAR model, including the main debt-related domestic variables. The US corporate bond spread...
Persistent link: https://www.econbiz.de/10005755415
Immigrants assimilate in various dimensions at different rates. Moreover, in each of these dimensions they assimilate at rates that may differ from those of their children. The purpose of this paper is to examine how the pace of assimilation of immigrants in various dimensions affects the rate...
Persistent link: https://www.econbiz.de/10005755416