Showing 1 - 10 of 134
Monetary models of exchange rates tend to focus on inflation differentials to explain exchange rate movements. This paper assesses the ability of currency flows to predict exchange rate changes. The focus is on Japan. Currency flows are assumed to depend on the level of the current account and...
Persistent link: https://www.econbiz.de/10010538849
When the current account balance and net capital outflows do not exactly offset each other, net payment flows arise. Payment inflows into a country push the real exchange rate up, outflows push it down. This paper uses a model of optimal consumption and portfolio choice to determine the factors...
Persistent link: https://www.econbiz.de/10010538851
Several countries in eastern Europe may accede to the European Union in about two years time, making them candidates to join Europe's single currency from 2006. Some well-known economists have advocated that countries in eastern Europe adopt the euro now either unilaterally or by prior...
Persistent link: https://www.econbiz.de/10011071420
During the past three decades, Japan’s current account experienced five large swings. The yen appreciated considerably in periods when the current account boomed, and it depreciated whenever Japan’s external performance weakened. However, there has always been a certain lag in the adjustment...
Persistent link: https://www.econbiz.de/10005766057
Several countries in eastern Europe may accede to the European Union in about two years time, making them candidates to join Europe¿s single currency from 2006. Some well-known economists have advocated that countries in eastern Europe adopt the euro now either unilaterally or by prior...
Persistent link: https://www.econbiz.de/10010702068
Under quadratic transportation costs, the existence of the sequential first-locate-thenprice equilibrium in spatial competition is well known in the literature. In this paper, we find that the equilibrium may fail to exist under certain restrictions with respect to the location of firms and...
Persistent link: https://www.econbiz.de/10005405108
In two widely cited but unpublished working papers, Simar and Wilson (1998) and Zofío and Lovell (1998) proposed an alternative decomposition of the Malmquist Productivity Index, which retained what seemed to be the strongholds of previous proposals with regard to the contribution of...
Persistent link: https://www.econbiz.de/10005405109
In this paper we analyse how the decentralization process of the Spanish educational system has affected the school-to-work transition of youths over the last years. Using individual data from the Spanish Labor Force Survey for the period 1993-2002, we estimate a simultaneous equation model for...
Persistent link: https://www.econbiz.de/10005405110
Studying the relation between workers’ nationality and their commuting time has been of paramount importance in countries with high immigration rates and ethnical heterogeneity. Most of these studies focus on the spatial mismatch of racial minorities, and consider urban and social structures...
Persistent link: https://www.econbiz.de/10005405111
In this paper, we have studied the employment and nonemployment transitions in Spain from 1996 to 2005. To do so, we have used a multi-state multiepisode duration model and a censored continuous-time Markovian matrix. By using the censored Markovian matrix, we have been able to balance the...
Persistent link: https://www.econbiz.de/10005405112