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Deciding to Enter a Monetary Union : Therole of Trade and Financial Linkages

Lama, Ruy - 2012

This paper evaluates the role of trade and financial linkages in the decision to enter a monetary union. We estimate a two-country DSGE model for the U.K. economy and the euro area, and use the model to compute the welfare trade-offs from joining the euro. We evaluate two alternative scenarios....

Persistent link: https://www.econbiz.de/10013098569

Trade Costs, Market Integration, and Macroeconomic Volatility

Brunner, Allan D. - 2006

This paper examines the effects of trade costs on macroeconomic volatility. We first construct a dynamic, two-country general equilibrium model, where the degree of market integration depends directly on trade costs (transport costs, tariffs, etc.). The model is a extension of Obstfeld and...

Persistent link: https://www.econbiz.de/10012783054

The Paradox of Global Thrift

Fornaro, Luca - 2018

This paper describes a paradox of global thrift. Consider a world in which interest rates are low and monetary policy is constrained by the zero lower bound. Now imagine that governments implement prudential financial and fiscal policies to stabilize the economy. We show that these policies,...

Persistent link: https://www.econbiz.de/10012906337

The valuation effects of trade

Barbiero, Omar - 2021 - This version: September 2021

This paper estimates the cash flow and real effects of currency mismatches generated by foreign-priced operations of French manufacturers. The value of transactions invoiced in foreign currencies is twice as sensitive to exchange rates as the value of transactions invoiced in the domestic...

Persistent link: https://www.econbiz.de/10012705025

How Does Globalization Affect the Synchronization of Business Cycles?

Kose, M. Ayhan; Prasad, Eswar S.; Terrones, Marco E. - 2021

This paper examines the impact of rising trade and financial integration on international business cycle comovement among a large group of industrial and developing countries. The results provide at best limited support for the conventional wisdom that globalization has increased the degree of...

Persistent link: https://www.econbiz.de/10013320078

Germany in fundamental macroeconomic disequilibrium : the external surplus

Priewe, Jan - 2018

Despite performing very positively on some key macroeconomic indicators in recent years, the German economy is in grave disequilibrium if the high current account surplus is included in the analysis. The paper scrutinises the evolution of Germany's external surplus since the inception of the...

Persistent link: https://www.econbiz.de/10011927093

Fragmentation in Global Trade : Accounting for Commodities

Bolhuis, Marijn; Chen, Jiaqian; Kett, Benjamin - 2023

We construct a new database which covers production and trade in 136 primary commodities and 24 manufacturing and service sectors for 145 countries. Using this new more granular data, we estimate spillover effects from plausible trade fragmentation scenarios in a new multi-country, multi-sector,...

Persistent link: https://www.econbiz.de/10014358436

Asian trade and global linkages

Brooks, Douglas Howard; Hua, Changchun - 2008

In the run-up to the 2008 global financial crisis, there was frequent discussion of Asia having decoupled from economic … shock transmission originating in Europe or North America. Much of the basis for these arguments was related to the rapid … expansion of intraregional trade in Asia. This paper examines the trade linkages among Asian countries and between Asia and …

Persistent link: https://www.econbiz.de/10003855394

The post-crisis sequencing of economic integration in Asia : trade as a complement to a monetary future

Plummer, Michael G. - 2007

Bilateral and regional cooperation initiatives in Asia have been growing in importance over the last five years … sequence, is there a case for monetary union in East Asia? Is there a case for expanded free-trade areas (FTAs) in the region … Equilibrium (CGE) model, to evaluate the economics of monetary/financial integration and various configurations of FTAs in Asia …

Persistent link: https://www.econbiz.de/10011281489

International trade and real transmission channels of financial shocks in global production networks : an Asian-USA perspective

Escaith, Hubert; Gonguet, Fabien - In: Asia beyond the global economic crisis : the …, (pp. 73-105). 2011

Persistent link: https://www.econbiz.de/10009161697