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Foreign Exchange, Prices and Economic Activity in Bulgaria

Hughes, Gordon - C.E.P.R. Discussion Papers - 1991

reduce the budget deficit and lower the underlying rate of inflation. The paper develops an input-output model to investigate …

Persistent link: https://www.econbiz.de/10005497844

A Panel Project on Purchasing Power Parity: Mean Reversion Within and Between Countries

Frankel, Jeffrey A; Rose, Andrew K - C.E.P.R. Discussion Papers - 1995

Previous time-series studies have shown evidence of mean-reversion in real exchange rates. Deviations from purchasing power parity (PPP) appear to have half-lives of approximately four years. The long samples required for statistical significance are unavailable for most currencies, however, and...

Persistent link: https://www.econbiz.de/10005498061

Rose, Andrew K - C.E.P.R. Discussion Papers - 2013

fixes, a reasonably durable regime. However, most of the new stability is due to countries that float with an inflation … target. Though a few have left to join the Eurozone, no country has yet abandoned an inflation targeting regime under duress …. Inflation targeting now represents a serious alternative to a hard exchange rate fix for small economies seeking monetary …

Persistent link: https://www.econbiz.de/10011083734

The world is not yet flat: Transport costs matter!

Behrens, Kristian; Bougna, Théophile; Brown, W. Mark - C.E.P.R. Discussion Papers - 2015

We provide evidence for the effects of changes in transport costs, international trade exposure, and input-output linkages on the geographical concentration of Canadian manufacturing industries. Increasing transport costs, stronger import competition, and the spreading out of upstream suppliers...

Persistent link: https://www.econbiz.de/10011145427

Can South-South Trade Liberalisation Stimulate North-South Trade?

Fugazza, Marco; Robert-Nicoud, Frédéric - C.E.P.R. Discussion Papers - 2006

This paper uses a combination of Ethier (1982) and Melitz's (2003) models to show that liberalizing trade among developing countries, so-called South-South trade, could contribute to improve the access to international markets of developing countries' would-be exporters. Lower trade barriers...

Persistent link: https://www.econbiz.de/10005124027

Fast ML estimation of dynamic bifactor models: an application to European inflation

Fiorentini, Gabriele; Galesi, Alessandro; Sentana, Enrique - C.E.P.R. Discussion Papers - 2015

. We explore the ability of a model with a global factor and three regional ones to capture inflation dynamics across 25 …

Persistent link: https://www.econbiz.de/10011186627

Inflation Convergence with Realignments in a Two-Speed Europe

Lambertini, Luisa; Miller, Marcus; Sutherland, Alan - C.E.P.R. Discussion Papers - 1991

accommodation and zero accommodation of inflation differentials. To what extent, however, does the new freedom of capital movements …-looking behaviour in labour and financial markets to analyse this question. A rule which partially accommodates inflation differentials … is shown to be consistent with inflation convergence and perfect capital mobility, provided that the timing of …

Persistent link: https://www.econbiz.de/10005791318

Who Profits from Trade Facilitation Initiatives?

Hoekman, Bernard; Shepherd, Ben - C.E.P.R. Discussion Papers - 2013

Extensive research has demonstrated the existence of large potential welfare gains from trade facilitation—measures to reduce the overall costs of the international movement of goods. From an equity perspective an important question is how those benefits are distributed across and within...

Persistent link: https://www.econbiz.de/10011083525

Organizing the Global Value Chain

Antràs, Pol; Chor, Davin - C.E.P.R. Discussion Papers - 2012

We develop a property-rights model of the firm in which production entails a continuum of uniquely sequenced stages. In each stage, a final-good producer contracts with a distinct supplier for the procurement of a customized stage-specific component. Our model yields a sharp characterization for...

Persistent link: https://www.econbiz.de/10011083351

Mapping prices into productivity in multisector growth models

Ngai, Liwa Rachel; Samaniego, Roberto - C.E.P.R. Discussion Papers - 2009

Two issues related to mapping a multi-sector model into a reduced-form value-added model are often neglected: the composition of intermediate goods, and the distinction between the productivity indices for value added and for gross output. We illustrate their significance for growth accounting...

Persistent link: https://www.econbiz.de/10005025514