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Corporate Debt, Capital Flows, and International Business Cycles

Trani, Tommaso - 2019

The G7 countries traditionally display home bias in assets (equities and bonds), but over the last 25 years this bias has progressively decreased, especially for equity portfolios. At the same time, the indebtedness of non-financial corporations has tended to increase and comove across...

Persistent link: https://www.econbiz.de/10012898191

Financial Frictions and the International Transmission of Shocks

Park, Woong Yong - 2019

This study presents a two-good, two-country model with financial frictions, where banks facing a borrowing constraint intermediate funds between households and firms. The endogenous fluctuations of international relative prices increase the business cycle co-movement across countries when...

Persistent link: https://www.econbiz.de/10012858531

Why should the world care? : analysis, mechanisms and spillovers of the destination based border adjusted tax

Baumann, Ursel; Dieppe, Alistair; Dizioli, Allan Gloe - 2017

spillovers could be strongly negative and world trade could decline substantially. …

Persistent link: https://www.econbiz.de/10011699419

Chapter 9. Assessing International Efficiency

Heathcote, Jonathan; Perri, Fabrizio - In: Handbook of international economics : Volume 4, (pp. 523-584). 2014

This chapter is structured in three parts. The first part outlines the methodological steps, involving both theoretical and empirical work, for assessing whether an observed allocation of resources across countries is efficient. The second part applies the methodology to the long-run allocation...

Persistent link: https://www.econbiz.de/10014025377

Business cycle synchronization : a regional perspective

Beck, Krzysztof - 2014

Turmoil in euro area once more forces EU authorities to rethink future of further monetary integration. One of the most commonly used criterions for successful monetary in contemporary research is business cycle synchronization (BCS). Though BCS has been vastly described at country level, not as...

Persistent link: https://www.econbiz.de/10012011034

Foreign customer accumulation and export dynamics

Tjaden, Volker - 2013

I present a dynamic fixed cost model of export participation extended by a capital theoretic concept of the customer stock. Plants that want to start exporting have to invest into a market specific factor which serves as input into a decreasing returns to scale technology generating sales...

Persistent link: https://www.econbiz.de/10010191654

Different no more : country spreads in advanced and emerging economies

Born, Benjamin; Müller, Gernot J.; Pfeifer, Johannes; … - 2020

Interest-rate spreads fluctuate widely across time and countries. We characterize their behavior using some 3,200 quarterly observations for 21 advanced and 17 emerging economies since the early 1990s. Before the financial crisis, spreads are 10 times more volatile in emerging economies than in...

Persistent link: https://www.econbiz.de/10012162762

World, country, and sector factors in international business cycles

Karadimitropoulou, Aikaterini; León-Ledesma, Miguel A. - 2013

model. The model contains a world factor, country-specific factors, sector-specific factors, and idiosyncratic components … country-factors. The world factor appears to play a minimal role because, when using aggregate data, the world factor captures … in the volatility of world shocks during the globalization period, rather than a lower sensitivity of sectoral growth to …

Persistent link: https://www.econbiz.de/10009744615

China's emergence in the world economy and business cycles in Latin America

Cesa-Bianchi, Ambrogio; Pesaran, M. Hashem; Rebucci, … - 2012

world have altered the transmission mechanism of international business cycles to Latin America. Evidence based on a Global … world shows that the long-term impact of a China GDP shock on the typical Latin American economy has increased by three … associated with a deceleration in China's economic growth in the future for both Latin America and the rest of the world economy …

Persistent link: https://www.econbiz.de/10009627525

International business cycles and financial frictions

Yao, Wen - 2012

This paper builds a two-country DSGE model to study the quantitative impact of financial frictions on business cycle co-movements when investors have foreign asset exposure. The investor in each country holds capital in both countries and faces a leverage constraint on her debt. I show...

Persistent link: https://www.econbiz.de/10009565861