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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

Structural asymmetries and financial imbalances in the eurozone

Jaccard, Ivan; Smets, Frank - 2017

Almost two decades after the introduction of the common currency, differences in institutional frameworks remain a major source of cross-country heterogeneity in the eurozone. We develop a two-country model with incomplete international markets in which the availability of credit depends on the...

Persistent link: https://www.econbiz.de/10011804391

Cross-border currency exposures: New evidence based on an enhanced and updated dataset

Bénétrix, Agustín; Gautam, Deepali; Juvenal, Luciana; … - 2020

This paper provides a dataset on the currency composition of the international investment position for a group of 50 countries for the period 1990-2017. It improves available data based on estimates by incorporating actual data reported by statistical authorities and refining estimation methods....

Persistent link: https://www.econbiz.de/10012422079

US, Japan and the euro area: comparing business-cycle features

McAdam, Peter - 2003

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper we identify and compare specifically their major business-cycle features and examine the case for a common...

Persistent link: https://www.econbiz.de/10011604329

Structural Asymmetries and Financial Imbalances in the Eurozone

Jaccard, Ivan - 2017

Persistent link: https://www.econbiz.de/10012953871

Cross-Border Currency Exposures : New Evidence Based on an Enhanced and Updated Dataset

Bénétrix, Agustín S. - 2020

Persistent link: https://www.econbiz.de/10012832883

Volatility spillovers of Federal Reserve and ECB balance sheet expansions to emerging market economies

Apostolou, Apostolos; Beirne, John - 2017

This paper examines volatility spillovers from changes in the size of the balance sheets of the Federal Reserve (FED) and European Central Bank (ECB) to emerging market economies (EMEs) from 2003 to 2014. We find that EME bond markets are most susceptible to positive volatility spillovers from...

Persistent link: https://www.econbiz.de/10011667194

Macroeconomic effects of tariffs shocks: The role of the effective lower bound and the labour market

Jacquinot, Pascal; Lozej, Matija; Pisani, Massimiliano - 2020

We simulate a version of the EAGLE, a New Keynesian multi-country model of the world economy, to assess the macroeconomic effects of US tariffs imposed on one country member of the euro area (EA), and the rest of the world (RW). The model is augmented with an endogenous effective lower bound...

Persistent link: https://www.econbiz.de/10012422096

International trade, technological shocks and spillovers in the labour market: A GVAR analysis of the US manufacturing sector

Hiebert, Paul; Vansteenkiste, Isabel - 2007

We empirically analyse the response of US manufacturing labour market variables to various shocks, notably to trade … openness and technology. The econometric approach involves an application of the recently developed global VAR (GVAR …) methodology of D¶ees, DiMauro, Pesaran, and Smith (2005) to 12 manufacturing industries over the period 1977-2003. This frame …

Persistent link: https://www.econbiz.de/10011604777

Wage structure effects of international trade: evidence from a small open economy

Du Caju, Philip; Rycx, François; Tojerow, Ilan - 2011

In the last decades, international trade has increased between industrialised countries and between high- and low-wage countries. This important change has raised questions on how international trade affects the labour market. In this spirit, this paper aims to investigate the impact of...

Persistent link: https://www.econbiz.de/10011605371