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Liberalization and Stock Market Co-Movement between Emerging Economies

Beine, Michel A. R.; Candelon, Bertrand - 2021

In this paper, we investigate the impact of trade and financial liberalization on the degree of stock market co-movement among emerging economies. Using a sample of 25 developing countries observed over 15 years, we estimate the impact of reforms which aim at opening these countries to trade and...

Persistent link: https://www.econbiz.de/10013316796

Law of one price, distance, and borders

Borraz, Fernando; Zipitría, Leandro - 2017

We propose a decomposition of the border effect in international trade by controlling for differences in competition in local markets. An extension of the Hotelling (1929) model shows that the availability of local substitutes increases price dispersion and biases the estimation of the border...

Persistent link: https://www.econbiz.de/10012114622

Product Prices and the OECD Cycle

Kraay, Aart; Ventura, Jaume - 2003

It is well known that business cycles in OECD countries exhibit a remarkable degree of synchronization. Much less known is that the peak of the OECD cycle is associated with high prices of labor-intensive products and low prices of capital-intensive ones. We document this cyclical behavior of...

Persistent link: https://www.econbiz.de/10014151427

Bubbles and Capital Flows

Ventura, Jaume - 2003

This paper presents a stylized model of international trade and asset price bubbles. Its central insight is that bubbles tend to appear and expand in countries where productivity is low relative to the rest of the world. These bubbles absorb local savings, eliminating inefficient investments and...

Persistent link: https://www.econbiz.de/10014105566

Shipping Prices and Import Price Inflation

Isaacson, Maggie; Rubinton, Hannah - 2022

During the pandemic there have been unprecedented increases in the cost of shipping goods accompanied by delays and backlogs at the ports. At the same time, import price inflation has reached levels unseen since the early 1980s. This has led many to speculate that the two trends are linked. In...

Persistent link: https://www.econbiz.de/10014077585

Chapter 7. International Prices and Exchange Rates

Burstein, Ariel; Gopinath, Gita - In: Handbook of international economics : Volume 4, (pp. 391-451). 2014

We survey the recent empirical and theoretical developments in the literature on the relation between prices and exchange rates. After updating some of the major findings in the empirical literature, we present a simple framework to interpret this evidence. We review theoretical models that...

Persistent link: https://www.econbiz.de/10014025379

Market Integration and Arbitrage Efficiency in International Agricultural Markets : A New Regime-Switching Approach

Han, Shengfei; Cao, Guizhen; Zhai, Yumin; Wen, Zhibin - 2009

A market regime-switching model is developed that has rate of trade identified using a rent-weighted approach. The model also indirectly accounts for the impacts of other competitors through separate specifications of variation parameters across alternate seasons. Commodity futures prices are...

Persistent link: https://www.econbiz.de/10014046093

Asymmetric Price Adjustment and the Effects of Structural Reforms in a Low Income Environment : The Case of the Gasoline Market in Greece

Bragoudakis, Zacharias - 2020

The pricing mechanism in the gasoline market has often been the subject of public debate in Greece during the crisis … market is by testing for asymmetries in the adjustment of domestic gasoline prices to world oil price changes. The present … paper has two aims: (a) The first is to investigate the existence of asymmetric adjustment of gasoline prices to oil price …

Persistent link: https://www.econbiz.de/10012844006

Dynamic Fuel Price Pass-Through : Evidence from a New Global Retail Fuel Price Database

Kpodar, Kangni - 2017

crude oil prices per liter translates into a 1.2 cent increase in the retail gasoline price at peak level six months after … negative price shocks on the retail gasoline price. Finally, the paper underscores the importance of the new dataset in …

Persistent link: https://www.econbiz.de/10012962161

Asymmetric Price Adjustment and the Effect of Structural Reforms in the Gasoline Market in Greece

Bragoudakis, Zacharias - 2018

Efficient pricing in the gasoline market has often been the subject of public debate in Greece during the recent years …. The present paper: (a) Investigates the possible existence of asymmetric adjustment of gasoline prices to oil price … structural reforms that took place in the gasoline market in the post-2010 period had any impact on the pricing dynamics of the …

Persistent link: https://www.econbiz.de/10012911128