Showing 91 - 100 of 169
In this paper, we investigate the linkages between inward foreign direct investment and imports in Spain. We show that FDI in this country has be reater imports. A cointegration analysis in a multivariate VAR model is applied for Granger temporal causality testing. The strength and direction of...
Persistent link: https://www.econbiz.de/10008493826
This paper examines how the member countries of a monetary union react to country-specific shocks and to shocks from the rest of the world, when the budget deficit is the only policy instrument available. We develop a three-country model in which countries show different preferences regarding...
Persistent link: https://www.econbiz.de/10008493827
The objective of this paper is to analyse the differences in price-marginal cost margins of the export and domestic markets by the estimation of a multiproduct cost function. We apply this method to a panel of Spanish export manufacturing firms from the period 1990-1997. Some results emerge from...
Persistent link: https://www.econbiz.de/10008493828
Within the present scenario of world economic integration and opening of markets, a restructuring of the international localisation of firms is underway. This is giving rise to processes of foreign direct capital divestment in some of the most developed countries that have, to a greater extent,...
Persistent link: https://www.econbiz.de/10008493829
This paper analyzes the oil price-macroeconomy relationship by means of analyzing the impact of oil prices on inflation and industrial production indexes for many European countries using quarterly data for the period 1960-1999. First, we test for cointegration allowing for structural breaks...
Persistent link: https://www.econbiz.de/10008493830
The 90’s could be characterized as a time in which both developed and emerging countries have su¤ered important episodes of exchange rate instability; some of these periods have resulted in exchange rate devaluations and others, in important exchange rate depreciations. We are interested in...
Persistent link: https://www.econbiz.de/10008493831
This paper explores the implications of monetary policy rules in the general equilibrium two-country framework of Obstfeld and Rogo (1995). It is argued that the sign of the correlation of domestic and foreign outputs can be positive after a monetary shock, contrary to the standard result. The...
Persistent link: https://www.econbiz.de/10008493832
In the past time, most economies have suffered cyclical fluctuations in their activity which may influence the optimal use of productive factors in long slow-growth phases or price stability in periods of fast growth. This paper focuses on the possible interrelationship between business cycles...
Persistent link: https://www.econbiz.de/10008493833
This paper investigates cross-country productivity convergence for the period 1960-1999. The testing strategy is based on a combination of tests and estimation methods. We use the de…nitions of time-series convergence by Bernard and Durlauf (1995), applying multivariate unit root tests, such...
Persistent link: https://www.econbiz.de/10008493835
This paper provides empirical evidence on the determinants of exchange rate credibility under the European Monetary System (EMS). To that end, we have considered both economic variables and political factors using data of eight currencies participating in the Exchange Rate Mechanism, covering...
Persistent link: https://www.econbiz.de/10008493836