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Terms of Trade, Catch-Up, and Home Market Effect : The Example of Japan

Urban, Dieter M. - 2021

This paper explores theoretically and empirically the long run relation of the terms of trade (ratio of domestic and … trade towards PPP during a catch-up process, which suggests very long half-life times of terms of trade. Two theoretical … interdependencies between the terms of trade and economic growth are offered: the home market effect and the productivity shock effect …

Persistent link: https://www.econbiz.de/10013316647

Cointegration Tests of PPP : Do They Also Exhibit Erratic Behaviour?

Caporale, Guglielmo Maria; Hanck, Christoph - 2021

(possibly unwarranted) homogeneity and proportionality restrictions are not imposed, and trivariate cointegration (stage …

Persistent link: https://www.econbiz.de/10013317393

International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries : Some Panel Evidence

Caporale, Guglielmo Maria - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10013155428

Liquidity Shortages and Monetary Policy

Cao, Jin; Illing, Gerhard - 2021

The paper models the interaction between risk taking in the financial sector and central bank policy for the case of pure illiquidity risk. It is shown that, when bad states are highly unlikely, public provision of liquidity may improve the allocation, even though it encourages more risk taking...

Persistent link: https://www.econbiz.de/10013316591

The Role of Monetary Aggregates in the Policy Analysis of the Swiss National Bank

Kirchgässner, Gebhard - 2013

quantity of money and or excess money can be used to forecast inflation. After a preliminary data analysis, money demand …. Using recursive estimates, indicator properties of monetary aggregates for inflation are assessed for the period from 2000 … the one for M2 is strongly influenced by these three observations. While in both cases forecasts for 2010 show inflation …

Persistent link: https://www.econbiz.de/10013095154

Endogenous Systemic Liquidity Risk

Cao, Jin - 2013

Traditionally, aggregate liquidity shocks are modelled as exogenous events. Extending our previous work (Cao & Illing, 2008), this paper analyses the adequate policy response to endogenous systemic liquidity risk. We analyse the feedback between lender of last resort policy and incentives of...

Persistent link: https://www.econbiz.de/10013095988

Does Voluntary Risk Taking Affect Solidarity? Experimental Evidence from Kenya

Strobl, Renate - 2018

In this study we experimentally investigate whether solidarity, which is a crucial base for informal insurance arrangements in developing countries, is sensitive to the extent to which individuals can influence their risk exposure. With slum dwellers of Nairobi our design measures subjects'...

Persistent link: https://www.econbiz.de/10012933079

Land Trade and Development : A Market Design Approach

Bryan, Gharad - 2017

private trade will be slow to reallocate land, and imply that market design has the potential to contribute to the development …

Persistent link: https://www.econbiz.de/10012950313

Can Integrity Replace Institutions? Theory and Evidence

Aharonovitz, Gilad D. - 2009

, measure integrity and other values of these groups, and use this data and data from Kenya to support one of the model …

Persistent link: https://www.econbiz.de/10013157500

China's Current Account and Exchange Rate

Cheung, Yin-Wong - 2013

We examine whether the Chinese exchange rate is misaligned and how Chinese trade flows respond to the exchange rate and … is on the order of 10 percent. Second, we find that Chinese multilateral trade flows respond to relative prices - as … represented by a trade weighted exchange rate - but the relationship is not always precisely estimated. In addition, the direction …

Persistent link: https://www.econbiz.de/10012753166