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A striking and unexpected feature of the financial crisis has been the sharpappreciation of the US dollar against virtually all currencies globally. The paper findsthat negative US-specific macroeconomic shocks during the crisis have triggered asignificant strengthening of the US dollar, rather...
Persistent link: https://www.econbiz.de/10005866568
This empirical study analyzes the cultural basis of the United States market response to imported Spanish products that seem to violate strongly-held cultural taboos. Survey responses were obtained from students in two contrasting majors, Art and Business, in two distinct cities and...
Persistent link: https://www.econbiz.de/10015192080
We implement a quantitative empirical test of the fiscal theory of the price level (FTPL) model via indirect inference, comparing it to a standard New Keynesian model. The FTPL alternative creates a serious instability problem because it triggers a 'doom loop'in which inflation pushes up...
Persistent link: https://www.econbiz.de/10015193946
Given data on a scalar random variable 𝑌, a prediction set for 𝑌 with miscoverage level 𝛼 is a set of values for 𝑌 that contains a randomly drawn 𝑌 with probability 1 - 𝛼, where 𝛼 ∈ (0, 1). Among all prediction sets that satisfy this coverage property, the oracle...
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compete on equal terms with the USA and China. Together, the EU has strong market power that can be used to counteract trade … in the EU. USA: • Trump's announced import tariffs on European goods would affect the German automotive industry and …-Binnenmarkt schafft Augenhöhe mit den USA und China. Gemeinsam hat die EU eine starke Marktmacht, die eingesetzt werden kann, um …
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This paper investigates how an increase in military expenditures affects an economy. It is written in the context of rising geopolitical tensions that have spurred increased military spending in the United States, Europe, and other economic areas. It draws on a large literature in...
Persistent link: https://www.econbiz.de/10015202319