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No Country is an Island : International Cooperation and Climate Change

Ferrari, Massimo Minesso; Pagliari, Maria Sole - 2021

In this paper we explore the cross-country implications of climate-related mitigation policies. Specifically, we set up a two-country, two-sector (brown vs green) DSGE model with negative production externalities stemming from carbon-dioxide emissions. We estimate the model using US and euro...

Persistent link: https://www.econbiz.de/10013222709

Distance(s) and the Volatility of International Trade(s)

Mehl, Arnaud - 2019

Does distance matter for the volatility of international real and financial transactions? We show that it does, in addition to its well-established relevance for the level of trade. A simple model of trade with endogenous markups shows that demand shocks have a larger impact on trade between...

Persistent link: https://www.econbiz.de/10012889878

The Effect of G20 Summits on Global Financial Markets

Lo Duca, Marco - 2014

In the wake of the global financial crisis, the G20 has become the most important forum of global governance and cooperation, largely replacing the once powerful G7. In this paper we run an event study to test whether G20 meetings at ministerial and Leaders level have had an impact on global...

Persistent link: https://www.econbiz.de/10013058549

The Global Effects of Global Risk and Uncertainty

Bonciani, Dario - 2018

returns from around the world. We then study how shocks to the factor affect economic activity in 36 advanced and emerging …

Persistent link: https://www.econbiz.de/10012909852

Global Value Chains during the Great Trade Collapse : A Bullwhip Effect?

Altomonte, Carlo - 2012

This paper analyzes the performance of global value chains during the trade collapse. To do so, it exploits a unique transaction-level dataset on French firms containing information on cross-border monthly transactions matched with data on worldwide intra-firm linkages as defined by property...

Persistent link: https://www.econbiz.de/10013113261

Evaluating China's Integration in World Trade with a Gravity Model Based Benchmark

Bussière, Matthieu; Schnatz, Bernd - 2021

rapid increase in the share of China in world trade. As the world is taking the full measure of this phenomenon, tensions … therefore provides an assessment of China's "natural" place in the world economy based on a new set of trade integration … international trade well and confirm that China is already well integrated in world markets, particularly with North America …

Persistent link: https://www.econbiz.de/10013317365

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

Global Growth on Life Support? The Contributions of Fiscal and Monetary Policy Since the Global Financial Crisis

Baumann, Ursel - 2019

This paper compares the role of monetary and fiscal policy shocks in advanced and emerging economies. Using a model with a hierarchical structure we capture the variability of GDP response to policy shocks both between and within the groups of advanced and emerging countries. Our results provide...

Persistent link: https://www.econbiz.de/10012890779

Financial Regulation, Financial Globalization and the Synchronization of Economic Activity

Kalemli-Ozcan, Sebnem - 2010

We identify the effect of financial integration on international business cycle synchronization, by utilizing a confidential database on banks' bilateral exposure and employing a country-pair panel instrumental variables approach. Countries that become more integrated over time have less...

Persistent link: https://www.econbiz.de/10013141875

Aggregation, the Skill Premium, and the Two-Level Production Function

Leon-Ledesma, Miguel A. - 2011

We examine the two-level nested Constant Elasticity of Substitution production function where both capital and labor are disaggregated in two classes. We propose a normalized system estimation method to retrieve estimates of the inter- and intra-class elasticities of substitution and factor...

Persistent link: https://www.econbiz.de/10013118952