The authors show that standard alternative assumptions about the currency in which firms price export goods are virtually inconsequential for the properties of aggregate variables, other than the terms of trade, in a quantitative open-economy model. This result is in contrast to a large...

In the developing countries the own currency is used as currency of habitual use, but not as a saving currency (the currencies are used). This translates into a decrease in the interest rates of developed countries as a result of the massive flight of capital from developing countries...

This paper presents a comprehensive database of country-specific commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individual commodities is weighted using commodity-level trade data. The database includes...

This paper adds to the literature in the field of development economies; it takes a look at the clear distinction between the advanced economies and the less development economies in terms of their production structures and notes that these stylized distinctions make a case for different...

Das Statistische Bundesamt veröffentlicht neben dem realen Bruttoinlandsprodukt auch den Realwert des Bruttoinlandsprodukts. Die beiden Schlüsselindikatoren unterscheiden sich um den Terms-of-Trade-Effekt. Im Ergebnis für das Jahr 2018 musste die deutsche Wirtschaft zum zweiten Mal in Folge...

This paper presents a comprehensive database of country-specific commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individual commodities is weighted using commodity-level trade data. The database includes...

This paper reconsiders the Balassa-Samuelson (BS) hypothesis. We analyze an OECD country panel from 1970 to 2008 and compare three data sets on sectoral productivity, including newly constructed data on total factor productivity. Overall, our within- and between-dimension estimation results do...

The authors study international transmissions and welfare implications of monetary shocks in a two-country world with multiple stages of production and multiple boarder-crossings of intermediate goods. This empirically relevant feature is important, as it has opposite implications for two...