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Sudden stop regimes and output : a Markov switching analysis

Bachmann, Andreas; Leist, Stefan - 2013

Sudden stops in capital inflows were a main characteristic of the emerging market crisis during the 1990's. Concerns about them have recurred in the light of recently increased global stability risk and the quantitative easing that led to substantial capital inflows in emerging economies. We add...

Persistent link: https://www.econbiz.de/10010199563

Current account adjustment and financial integration

Towbin, Pascal - 2008

study estimates theoretically founded trade balance reaction functions for a panel of seventy countries from 1970-2004. The … empirical analysis finds that adjustment in integrated economies is slower. Consistent with the presented theory the trade …

Persistent link: https://www.econbiz.de/10003891878

Trade Costs, Trade Balances and Current Accounts : An Application of Gravity to Multilateral Trade

Fazio, Giorgio; MacDonald, Ronald; Mélitz, Jacques - 2021

In this paper we test the well-known hypothesis of Obstfeld and Rogoff (2000) that trade costs are the key to … fundamental revision of Obstfeld and Rogoff's argument. A further novelty of our work is in tying bilateral trade behavior to … desired aggregate trade balances and desired intertemporal trade …

Persistent link: https://www.econbiz.de/10013318280

The impact of foreign capital shifts on economic activities and asset prices : a threshold VAR approach

Baba, Boubekeur; Sevil, Güven - In: Asian journal of economics and banking : AJEB 4 (2020) 3, pp. 87-104

Purpose - The purpose of this paper is to investigate the impact of foreign capital shifts on economic activities and asset prices in South Korea. Design/methodology/approach - The authors in this paper apply the Bayesian threshold vector autoregressive (TVAR) model to estimate the regimes of...

Persistent link: https://www.econbiz.de/10012515007

Chapter 9. Assessing International Efficiency

Heathcote, Jonathan; Perri, Fabrizio - In: Handbook of international economics : Volume 4, (pp. 523-584). 2014

This chapter is structured in three parts. The first part outlines the methodological steps, involving both theoretical and empirical work, for assessing whether an observed allocation of resources across countries is efficient. The second part applies the methodology to the long-run allocation...

Persistent link: https://www.econbiz.de/10014025377

Explaining International Business Cycle Synchronization : Recursive Preferences and the Terms of Trade Channel

Kollmann, Robert - 2017

trade response to country-specific shocks. Hence, a productivity (and GDP) increase in a given country triggers a strong … improvement of the foreign country’s terms of trade, which raises foreign labor demand. With a muted labor wealth effect, foreign …

Persistent link: https://www.econbiz.de/10014121891

Explaining International Business Cycle Synchronization : Recursive Preferences and the Terms of Trade Channel

Kollmann, Robert - 2017

trade response to country-specific shocks. Hence, a productivity (and GDP) increase in a given country triggers a strong … improvement of the foreign country's terms of trade, which raises foreign labor demand. With a muted labor wealth effect, foreign …

Persistent link: https://www.econbiz.de/10012960598

The Integration of Imperfect Financial Markets : Implications for Business Cycle Volatility

Buch, Claudia M.; Pierdzioch, Christian - 2004

During the last two decades, the degree of openness of national financial systems has increased substantially. At the same time, asymmetries in information and other financial market frictions have remain prevalent. We study both empirically and theoretically the implications of the opening up...

Persistent link: https://www.econbiz.de/10014072512

Remittances over the business cycle : theory and evidence

De, Supriyo; Islamaj, Ergys; Kose, M. Ayhan; Yousefi, … - 2016

This paper examines the behavior of remittances over the business cycle and their potential to act as a stabilizer during periods of high business cycle volatility. Four main findings are reported. First, in theory, the cyclical behavior of remittances depends on the motives to remit. Second,...

Persistent link: https://www.econbiz.de/10011453670

The volatility of capital flows in emerging markets measures and determinants

Pagliari, Maria Sole; Ahmed Hannan, Swarnali - 2017 - This draft: October 2017

Capital flow volatility is a concern for macroeconomic and financial stability. Nonetheless, literature is scarce in this topic. Our paper sheds light on this issue in two dimensions. First, using quarterly data for 33 emerging markets and developing economies over the period 1970Q1-2016Q4, we...

Persistent link: https://www.econbiz.de/10011771576