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Financial Policy Coordination in a Keynesian Framework

Correa, Romar - In: Journal of Economic Integration 12 (1997), pp. 99-112

We propose a simple framework within which to examine the problem of policy coordination between two central banks. The context is the various components of a broad measure of the money supply. Consider two central banks, one'monetarist' and the other 'Keynesian'. In each economy there is...

Persistent link: https://www.econbiz.de/10010840707

Strategic Interactions on Structural Reforms Between Integrated Economies: What Lessons for the EU?

Lehmann, Etienne; Taugourdeau, Emmanuelle - In: Journal of Economic Integration 19 (2004), pp. 46-52

We show that the domestic output increases with a foreign country's structural reform and decreases with foreign country’s fiscal policy. Hence, when governments act non-cooperatively, they implement too low structural reforms and too much fiscal policies.

Persistent link: https://www.econbiz.de/10009366254

Inter-Regional and Intra-Regional Trade in East Asia: Recent Developments and Aggregate Bilateral Trade Elasticities

Nagano, Mamoru - In: Journal of Economic Integration 18 (2003), pp. 105-125

East Asian countries have experienced dynamic structural change in regional trade during the 1990s. While intra-regional trade rapidly progressed within the region after the financial crisis, Asia accounts for a large portion of inter-regional trade volume, even after the crisis. In this paper,...

Persistent link: https://www.econbiz.de/10009318923

Microfoundations of Influencing Public Opinion: Lobbying and Voting for Trade Policies

Pyne, Derek - In: Journal of Economic Integration 21 (2006), pp. 551-576

Public opinion, lobbying and elections have important effects on the formation of trade policy in democracies. This paper attempts to explain how lobbying expenditures can influence the outcome of an election fought over trade policy. Voters are assumed to own both capital and labour. The...

Persistent link: https://www.econbiz.de/10009392003

Without Oil, How Do Gulf Countries Move? Non-hydrocarbon Business Cycles

Cevik, Serhan - In: Journal of Economic Integration 29 (2014), pp. 244-266

This paper investigates the empirical characteristics of business cycles and the extent of cyclical comovement in the Gulf Cooperation Council (GCC) countries, using nonhydrocarbon GDP (excluding crude oil and natural gas sectors) and constituents of aggregate demand during the period 1990~2010....

Persistent link: https://www.econbiz.de/10010840745

The Euro Area Crisis Management Framework: Consequences for Convergence and Institutional Follow-ups

Belke, Ansgar - In: Journal of Economic Integration 26 (2011), pp. 672-704

The current instruments in the EU to deal with debt and liquidity crises include the European Financial Stability Facility (EFSF) and the European Financial Stabilisation Mechanism (EFSM). Both are temporary in nature (3 years). In terms of an efficient future crisis management framework one has...

Persistent link: https://www.econbiz.de/10010991734

What could happen in a Monetary Union? The Perspective of Informational Asymmetry

Oros, Cornel - In: Journal of Economic Integration 27 (2012), pp. 633-653

The subsidiarity principle governing the collection of statistical data in a monetary union may result in asymmetrical information. The national governments may be tempted to distort their economic and financial data communicated to the union’s central bank in order to influence its monetary...

Persistent link: https://www.econbiz.de/10010991775

Does Migration Encourage Human Capital Formation in Labor-Sending Country?

Shimada, Akira - In: Journal of Economic Integration 28 (2013), pp. 632-649

This study investigates the effects of migration possibilities on the demand for education and human capital formation … under budget constraints. It was found that higher migration possibilities result in an increase in the number of workers … to price increases. When the education supply is insufficient, higher migration possibilities may lower average human …

Persistent link: https://www.econbiz.de/10010840763

Open Economies, Insider Power and International Migration

M Agiomirgianakis, George - In: Journal of Economic Integration 14 (1999), pp. 13-36

In this paper we incorporate the possibility of international migration of Labour (IML) into a model of open economy … with a non-competitive labour market. Migration flows in our model are endogenously determined by labour market performance … conditions of migration outflows. In this framework, we show that migration outflows, lead to a real consumer wage higher than …

Persistent link: https://www.econbiz.de/10010840807

Does Immigration Stimulate Foreign Trade? Evidence from Sweden

Hatzigeorgiou, Andreas - In: Journal of Economic Integration 25 (2010), pp. 376-402

country in which they were born. This study provides an empirical investigation of the link between migration and trade flows … for Sweden. Trade and migration data for Sweden and 180 partner countries between 2002 and 2007 are used to estimate an … augmented gravity model. The results show a statistically strong, positive and robust link between migration and increased trade …

Persistent link: https://www.econbiz.de/10009421181