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Aging and Pension Reform : Extending the Retirement Age and Human Capital Formation
Vogel, Edgar - 2012
Projected demographic changes in industrialized countries will reduce the share of the working-age population. Analyses based on standard OLG models predict that these changes will increase the capital-labor ratio. Hence, rates of return to capital decrease and wages increase with adverse...
Persistent link: https://www.econbiz.de/10013100571
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Credit Constraints and Investment in Human Capital : Training Evidence from Transition Economies
Popov, Alexander A. - 2013
Using a unique survey database of 8265 firms from 25 transition economies, I find that lack of access to finance in general, and to bank credit in particular, is associated with significantly lower investment in on-the-job training. This effect is stronger in education-intensive industries and...
Persistent link: https://www.econbiz.de/10013073659
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Real-Time Weakness of the Global Economy : A First Assessment of the Coronavirus Crisis
Leiva‐Leon, Danilo - 2020
provides a consistent narrative of the main regional contributors of world economy's weakness. Third, it allows to perform …
Persistent link: https://www.econbiz.de/10012838842
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Patterns in Invoicing Currency in Global Trade
Georgiadis, Georgios - 2020
This paper presents the most comprehensive and up-to-date panel data set of invoicing currencies in global trade. It provides data on the shares of exports and imports invoiced in US dollars, euros, and other currencies for more than 100 countries since 1990. The evidence from these data...
Persistent link: https://www.econbiz.de/10012825651
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America First? A US-centric View of Global Capital Flows
McQuade, Peter - 2019
with those of the rest of the world. We analyse the relative importance of US, country-specific, and global variables as …. Global and national risk indicators perform better in explaining “rest of the world” flows. Moreover, we find that the … correlation between US and rest of the world flows peaks in periods of elevated uncertainty. We interpret our findings as evidence …
Persistent link: https://www.econbiz.de/10012892830
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The Evolving Impact of Global, Region-Specific and Country-Specific Uncertainty
Mumtaz, Haroon - 2018
We build a dynamic factor model with time-varying parameters and stochastic volatility and use it to decompose the variance of a large set of financial and macroeconomic variables for 22 OECD countries spanning from 1960 onwards into contributions from country-specific uncertainty,...
Persistent link: https://www.econbiz.de/10012920180
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EME Financial Conditions : Which Global Shocks Matter?
Lodge, David - 2019
This paper provides a quantitative assessment of the relative importance of global structural shocks for changes in financial conditions across a sample of emerging market economies. We disentangle four key drivers of global financial markets (oil supply shocks, global economic news shocks,...
Persistent link: https://www.econbiz.de/10012869957
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Determinants of Global Spillovers from US Monetary Policy
Georgiadis, Georgios - 2015
policy generates sizable output spillovers to the rest of the world, which are larger than the domestic effects in the US for …
Persistent link: https://www.econbiz.de/10013014615
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Reading the Footprints : How Foreign Investors Shape Countries’ Participation in Global Value Chains
Buelens, Christian - 2017
We show that traditional gravity variables play a significant role in explaining trade flows related to global value chain participation. We find evidence that cooperation costs – measured by linguistic and geographical proximity – are more relevant for trade that reflects cross-border...
Persistent link: https://www.econbiz.de/10012956243
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Large Global Volatility Shocks, Equity Markets and Globalisation : 1885-2011
Mehl, Arnaud - 2015
I estimate the transmission of large global volatility shocks in international equity markets from the earlier (pre-1914) to the modern era of globalisation. To that end, I identify 43 such shocks over the period 1885-2011, defined as significant increases in unanticipated volatility in US...
Persistent link: https://www.econbiz.de/10013035639