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implications of globalization will aid in our understanding of inflation dynamics, it is also clear that such developments do not …
Persistent link: https://www.econbiz.de/10005361266
The literature appears to have reached a consensus that financial globalization has had a "disciplining effect" on … such a relationship exists. One reason is likely to be that de facto measures of financial globalization are endogenous …, and that instruments for financial globalization are elusive. In this paper, I introduce a new instrument, financial …
Persistent link: https://www.econbiz.de/10005361467
North American economic integration has had potentially positive implications for Mexican workers, and the perceived competition between Mexican and U.S. workers may not be as accurate as popularly believed. However, the net gains from integration may overshadow important losses for many...
Persistent link: https://www.econbiz.de/10005367557
Much empirical work has documented a negative correlation between different measures of globalization or openness and …
Persistent link: https://www.econbiz.de/10005367952
Greater openness has become an almost universal feature of modern, developed economies. This paper develops a workhorse international model, and explores the role of standard monetary policy rules applied to an open economy. For this purpose, I build a two-country DSGE model with monopolistic...
Persistent link: https://www.econbiz.de/10005367953
The aim of this paper is to evaluate the impact of globalization, if any, on inflation and the inflation process. We … concluded that globalization has had no significant impact, this paper highlights that trying to capture globalization effects … trade volume statistics to properly describe the impact of globalization. This leads us to adopt a more systematic approach …
Persistent link: https://www.econbiz.de/10005367957
This paper re-examines the ability of sticky-price models to generate volatile and persistent real exchange rates. We use a DSGE framework with pricing-to-market akin to those in Chari, et al. (2002) and Steinsson (2008) to illustrate the link between real exchange rate dynamics and what the...
Persistent link: https://www.econbiz.de/10005367958
Dixit-Stiglitz-Krugman model of monopolistic competition. We show how the gains from globalization are reflected in the … of sectors where globalization increases productivity through economies of scale. …
Persistent link: https://www.econbiz.de/10005367959