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Capital flows in the euro area and TARGET2 balances

Hristov, Nikolay; Hülsewig, Oliver; Wollmershäuser, Timo - 2018

We estimate a panel VAR model for the euro area to quantitatively asses the contribution of the TARGET2 system to the propagation of different types of structural economic shocks as well as to the historical evolution of aggregate economic activity in euro area member countries. Our results...

Persistent link: https://www.econbiz.de/10011793977

Exchange rate elasticities of international tourism and the role of dominant currency pricing

Ding, Ding; Timmer, Yannick - 2022

We estimate exchange rate elasticities of international tourism. We show that, in addition to the bilateral exchange … rate, the exchange rate between the tourism origin country vis-à-vis the U.S. dollar is an important driver of tourism … flows, indicating a strong role of U.S. dollar pricing. The U.S. dollar exchange rate is more important for tourism …

Persistent link: https://www.econbiz.de/10013201620

Trade model with an optimal exchange rate motivated by current discussion of a Chinese Renminbi float

Huang, Hui; Wang, Yi; Yiming, Wang; Whalley, John; … - 2005

We combine a model of combined inter-spatial and inter-temporal trade between countries recently used by Huang, Whalley and Zhang (2004) to analyze the merits of trade liberalization in services when goods trade is restricted with a model of foreign exchange rationing due to Clarete and Whalley...

Persistent link: https://www.econbiz.de/10002856541

Top incomes, rising inequality, and welfare

Lansing, Kevin J.; Markiewicz, Agnieszka - 2015

We introduce permanently-shifting income shares into a standard growth model with two types of agents. Capital owners represent the top quintile of U.S. households while workers represent the remainder. Our tractable model allows us to exactly replicate the observed U.S. time paths of the top...

Persistent link: https://www.econbiz.de/10011343080

Globalization in the time of COVID-19

Sforza, Alessandro; Steininger, Marina - 2020 - First version: April 1, 2020

networks. In this paper we incorporate production barriers induced by COVID-19 shock into a Ricardian model with sectoral … shock has a considerable impact on most economies in the world, especially when a share of the labor force is quarantined …. Moreover, we show that global production linkages have a clear role in magnifying the effect of the production shock. Finally …

Persistent link: https://www.econbiz.de/10012194678

Trade shocks and macroeconomic fluctuations in Africa

Kose, M. Ayhan; Riezman, Raymond Glenn - 1999

exported primary commodities, imported capital goods and intermediate inputs, and a financial shock, modeled as fluctuations in …

Persistent link: https://www.econbiz.de/10009781698

Estimating general equilibrium spillovers of large-scale shocks

Huber, Kilian - 2021

Researchers use (quasi-)experimental methods to estimate how shocks affect directly treated firms and households. Such methods typically do not account for general equilibrium spillover effects. I outline a method that estimates spillovers operating among groups of firms and households. I argue...

Persistent link: https://www.econbiz.de/10012489641

The COVID-19 shock and Spanish hotel activity

Caporale, Guglielmo Maria; Gil-Alaña, Luis A.; Poza, Carlos - 2025

Spain and the main five tourists regions in Spain. The results show that the impact of the Covid-19 shock on Spanish hotel … Spanish tourism sector. …

Persistent link: https://www.econbiz.de/10015426950

Dissecting the PPP puzzle : the unconventional roles of nominal exchange rate and price adjustment

Cheung, Yin-Wong; Lai, Kon S.; Bergman, Michael U. - 2003

The conventional view, as expounded by sticky-price models, is that price adjustment determines the PPP reversion rate. This study examines the mechanism by which PPP deviations are corrected. Nominal exchange rate adjustment, not price adjustment, is shown to be the key engine governing the...

Persistent link: https://www.econbiz.de/10011507767

External shocks and banking crises in developing countries : does the exchange rate regime matter?

Mendis, Chandima - 2002

This paper examines some determinants of banking crises in developing economies. Specifically, the effects of terms of trade shocks and capital flows are analyzed. The choice of the nominal exchange rate regime is found to be a crucial factor in the way various shocks are transmitted through the...

Persistent link: https://www.econbiz.de/10011410637