Similar Search Results

Global Financial Markets and Financial Stability: Europe's Role

Portes, Richard - C.E.P.R. Discussion Papers - 1999

Europe's contribution to the international financial system is a new currency, the euro. Economic and Monetary Union in … interaction between globalisation and regional integration. This paper discusses the internationalisation of the euro and draws …

Persistent link: https://www.econbiz.de/10005666555

The Euro and the International Financial System

Portes, Richard - C.E.P.R. Discussion Papers - 2001

This Paper analyses the issues raised by EMU for the relationships between the Euro area and the international … financial system. The depreciation of the Euro exchange rate since the beginning of EMU has attracted most attention. The Paper … authorities should take a more active policy stance. The Paper assesses the role of the Euro as an international currency and the …

Persistent link: https://www.econbiz.de/10005792090

How Trade Policy Affects Technology Adoption and Productivity

Herrendorf, Berthold; Teixeira, Arilton - C.E.P.R. Discussion Papers - 2002

How does trade policy a affect technology adoption, total factor productivity (TFP henceforth), and per capita income? To study this question we construct a dynamic general equilibrium model of a small open economy in which a coalition of skilled workers chooses the technology. We obtain three...

Persistent link: https://www.econbiz.de/10005504455

Management of Knowledge Workers

Hvide, Hans K; Kristiansen, Eirik Gaard - C.E.P.R. Discussion Papers - 2007

We study how complementarities and intellectual property rights affect the management of knowledge workers. The main results relay when a firm will wish to sue workers that leave with innovative ideas, and the effects of complementary assets on wages and on worker initiative. We argue that firms...

Persistent link: https://www.econbiz.de/10005497759

Knowledge Spillovers at the World's Technology Frontier

Keller, Wolfgang - C.E.P.R. Discussion Papers - 2001

Convergence in per capita income turns on whether technological knowledge spillovers are global or local. Global spillovers favour convergence, while a geographically limited scope of knowledge diffusion can lead to regional clusters of countries with persistently different levels of income per...

Persistent link: https://www.econbiz.de/10005497902

Determinacy Through Intertemporal Capital Adjustment Costs

Herrendorf, Berthold; Valentinyi, Akos - C.E.P.R. Discussion Papers - 2002

It is well known that if there are mild sector-specific externalities, then the steady state of the standard two-sector real business cycle model can become locally indeterminate and endogenous business cycles can arise. We show that this result is not robust to the introduction of standard...

Persistent link: https://www.econbiz.de/10005498060

The Natural Rate Hypothesis: An idea past its sell-by-date

Farmer, Roger E A - C.E.P.R. Discussion Papers - 2013

Central banks throughout the world predict inflation with new-Keynesian models where, after a shock, the unemployment rate returns to its so called 'natural rate’. That assumption is called the Natural Rate Hypothesis (NRH). This paper reviews a body of work, published over the last decade,...

Persistent link: https://www.econbiz.de/10011084150

Finance and the Preservation of Wealth

Gennaioli, Nicola; Shleifer, Andrei; Vishny, Robert - C.E.P.R. Discussion Papers - 2014

We introduce the model of asset management developed in Gennaioli, Shleifer, and Vishny (GSV, 2014) into a Solow-style neoclassical growth model with diminishing returns to capital. Savers rely on trusted intermediaries to manage their wealth (claims on capital stock), who can charge fees above...

Persistent link: https://www.econbiz.de/10011084567

What Happened in Cyprus?

Michaelides, Alexander - C.E.P.R. Discussion Papers - 2014

useful lessons for avoiding such crises in the future. The crisis resulted from a worsening European economic environment … (especially in Greece), bad choices with regards to public finances, weak corporate governance within the local banking sector …/or inadequate understanding of the magnitude of the crisis, delayed corrective action for 18 months until election time, making a …

Persistent link: https://www.econbiz.de/10011084648

Culture and Institutions

Tabellini, Guido - C.E.P.R. Discussion Papers - 2007

How and why does distant political and economic history shape the functioning of current institutions? This paper argues that individual values and convictions about the scope of application of norms of good conduct provide the "missing link". Evidence from a variety of sources points to two...

Persistent link: https://www.econbiz.de/10005067364