Showing 1 - 10 of 23
In this paper, we examine how the business and interest rate cycles in developed countries affect FDI to developing countries. After aggregating flows into three big source areas (the U. S. , Europe and Japan), we find FDI flows to be countercyclical with respect to both output and interest rate...
Persistent link: https://www.econbiz.de/10013126336
In this paper, we examine how the business and interest rate cycles in developed countries affects FDI to developing countries. After aggregating flows into three big source areas (the U.S., Europe and Japan), we find FDI flows to be countercyclical with respect to both output and interest rate...
Persistent link: https://www.econbiz.de/10014094964
Persistent link: https://www.econbiz.de/10001793472
Persistent link: https://www.econbiz.de/10003416801
Persistent link: https://www.econbiz.de/10009517287
In contrast with a growing literature on the drivers of aggregate volatility in developing countries, its consequences in terms of individual incomes have received less attention. This paper looks at the impact of cyclical output fluctuations and extreme output events (crises) on unemployment,...
Persistent link: https://www.econbiz.de/10013009289
We build an equilibrium business cycle model in which agents cannot perfectly distinguish between the permanent and transitory components of TFP shocks and learn about those components using the Kalman filter. Calibrated to Mexico, the model predicts a higher variability of consumption relative...
Persistent link: https://www.econbiz.de/10010273643
This paper analyses fiscal policy for several economies in Latin America, from the early nineties to the 2009 crisis. We present original estimates of cyclically-adjusted public revenues for Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Peru and Uruguay implementing the standardised...
Persistent link: https://www.econbiz.de/10010302742
This paper analyses fiscal policy for several economies in Latin America, from the early nineties to the 2009 crisis. We present original estimates of cyclically-adjusted public revenues for Argentina, Brazil, Chile, Colombia, Costa Rica, Mexico, Peru and Uruguay implementing the standardised...
Persistent link: https://www.econbiz.de/10010306876
The data reveal that emerging markets do not differ from developed countries with regards to the variance of permanent TFP shocks relative to transitory. They do differ, however, in the degree of uncertainty agents face when formulating expectations. Based on these observations, we build an...
Persistent link: https://www.econbiz.de/10014218680