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of the Covid-19 pandemic in early 2020, the results pointed towards large spillovers from the shutdown in China to … related to the shift of preferences towards goods with a large China valued-added content played a relevant role …. Interestingly, the impact of Chinese supply chain shocks is not limited to manufacturing sectors that are highly exposed to China …
Persistent link: https://www.econbiz.de/10013465051
area economic activity, with one standard deviation increase in the identified uncertainty shock subtracting around 0 …
Persistent link: https://www.econbiz.de/10012503567
of the Covid-19 pandemic in early 2020, the results pointed towards large spillovers from the shutdown in China to … related to the shift of preferences towards goods with a large China valued-added content played a relevant role …. Interestingly, the impact of Chinese supply chain shocks is not limited to manufacturing sectors that are highly exposed to China …
Persistent link: https://www.econbiz.de/10014263117
Since the 1970s, exports and imports of manufactured goods have been the engine of international trade and much of that trade relies on container shipping. This paper introduces a new monthly index of the volume of container trade to and from North America. Incorporating this index into a...
Persistent link: https://www.econbiz.de/10012661967
area economic activity, with one standard deviation increase in the identified uncertainty shock subtracting around 0 …
Persistent link: https://www.econbiz.de/10013231373
In this paper, I study channels through which risk-appetite shocks to global investors, i.e., global financial shocks, are transmitted to emerging market economies(EMEs). I focus on how transmission channels have changed as EMEs have become able to borrow abroad in the form of equity and local...
Persistent link: https://www.econbiz.de/10013197879
by banks and investment. For example, a capital outflow shock leads to a deprecation that reduces the net worth and … intermediation capacity of banks exposed to foreign currency liabilities. In such cases, the exchange rate acts as shock amplifier … exchange rate serves as a shock absorber, and any FXI that weakens that function can be costly. We also explore the …
Persistent link: https://www.econbiz.de/10013243072
Business cycles appear highly synchronized across countries. To understand this empirical phenomenon, I develop a multi-country international real business cycle model with international trade that offers several potential explanations: shocks to TFP, demand, leisure, investment, economic...
Persistent link: https://www.econbiz.de/10012840130
We estimate the causal impact of countercyclical interest rates on macroeconomic outcomes in open economies. To identify countercyclical interest rates, we construct a new database of short-term interest rates, principal exports, and international commodity prices for 40 economies from 1870 to...
Persistent link: https://www.econbiz.de/10013183777
In this paper we analyze European business cycles before and under EMU. Across the two periods we find 1) a significant decline in real exchange rate volatility, 2) significant changes in cross-country correlations, and 3) the volatility of macroeconomic fundamentals largely unchanged. We...
Persistent link: https://www.econbiz.de/10003850663