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Distance(s) and the volatility of international trade(s)

Mehl, Arnaud; Schmitz, Martin; Tille, Cédric - 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/10012142096

Gravity chains: estimating bilateral trade flows when parts and components trade is important

Baldwin, Richard; Taglioni, Daria - 2011

added flows. This fact has important implications for the estimation of the gravity equation. We present empirical evidence … that the standard gravity equation performs poorly by some measures when it is applied to bilateral flows where parts and … components trade is important. We also provide a simple theoretical foundation for a modified gravity equation that is suited to …

Persistent link: https://www.econbiz.de/10011605446

Has US household deleveraging ended? a model-based estimate of equilibrium debt

Albuquerque, Bruno; Baumann, Ursel; Krustev, Georgi - 2014

The balance sheet adjustment in the household sector was a prominent feature of the Great Recession that is widely believed to have held back the cyclical recovery of the US economy. A key question for the US outlook is therefore whether household deleveraging has ended or whether further...

Persistent link: https://www.econbiz.de/10011605688

Debt overhang and deleveraging in the US household sector: gauging the impact on consumption

Albuquerque, Bruno; Krustev, Georgi - 2015

Using a novel dataset for the US states, this paper examines whether household debt and the protracted debt deleveraging help explain the dismal performance of US consumption since 2007 in the aftermath of the housing bubble. By separating the concepts of deleveraging and debt overhang - a flow...

Persistent link: https://www.econbiz.de/10011605888

Has US Household Deleveraging Ended? A Model-Based Estimate of Equilibrium Debt

Albuquerque, Bruno - 2014

Persistent link: https://www.econbiz.de/10013058652

Debt Overhang and Deleveraging in the US Household Sector : Gauging the Impact on Consumption

Albuquerque, Bruno - 2015

Persistent link: https://www.econbiz.de/10013016939

Sparse and stable Markowitz portfolios

Brodie, Joshua; Daubechies, Ingrid; De Mol, Christine; … - 2008

We consider the problem of portfolio selection within the classical Markowitz meanvariance optimizing framework, which has served as the basis for modern portfolio theory for more than 50 years. Efforts to translate this theoretical foundation into a viable portfolio construction algorithm have...

Persistent link: https://www.econbiz.de/10011604982

Beyond borders: How geopolitics is reshaping trade

Bosone, Costanza; Stamato, Giovanni - 2024

geopolitical tensions on trade of manufacturing goods over the period 2012-2022 in a structural gravity framework. To capture the …

Persistent link: https://www.econbiz.de/10015199461

Inputs in distress: Geoeconomic fragmentation and firms' sourcing

Panon, Ludovic; Lebastard, Laura; Mancini, Michele; … - 2024

We study how disruptions to the supply of foreign critical inputs (FCIs) - that is, inputs primarily sourced from extra-EU countries with highly concentrated supply, advanced technology products, or which are key to the green transition - might affect value added at different levels of...

Persistent link: https://www.econbiz.de/10015199466

Inflation volatility in small and large advanced open economies

Mozzanica, Mirco Balatti - 2020

Inflation volatility is clearly important for structural analysis, forecasting and policy purposes, yet it is often overlooked in the literature. This paper compares in ation volatility among advanced open economies with in ation targeting monetary policy frameworks. The results of the empirical...

Persistent link: https://www.econbiz.de/10012422110