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We evaluate the proposal for official dollarization in Costa Rica by applying a new approach to measure the business cycle comovements with the United States. While the literature often focuses on the correlation of shocks, we point out that the response of each country to the shocks is also an...
Persistent link: https://www.econbiz.de/10003887163
In this paper, we contrast two different views in the debate on official dollarization. The Mundell (1961) framework of optimal currency areas and a model on boom-bust cycles, by Schneider and Tornell (2004), who take account of credit market imperfections prevalent in middle income countries....
Persistent link: https://www.econbiz.de/10009660973
We evaluate the proposal for official dollarization in Costa Rica by applying a new approach to measure the business cycle comovements with the United States. While the literature often focuses on the correlation of shocks, we point out that the response of each country to the shocks is also an...
Persistent link: https://www.econbiz.de/10009660987
Persistent link: https://www.econbiz.de/10009615698
We evaluate the proposal for official dollarization in Costa Rica by applying a new approach to measure the business cycle comovements with the United States. While the literature often focuses on the correlation of shocks, we point out that the response of each country to the shocks is also an...
Persistent link: https://www.econbiz.de/10010276355
Persistent link: https://www.econbiz.de/10008648711
We evaluate the proposal for official dollarization in Costa Rica by applying a new approach to measure the business cycle comovements with the United States. While the literature often focuses on the correlation of shocks, we point out that the response of each country to the shocks is also an...
Persistent link: https://www.econbiz.de/10013095614
Persistent link: https://www.econbiz.de/10003880708
Asymmetric persistence of accounting income is often tested in a regression of changes in earnings on lagged changes in earnings, including an interaction term for negative changes (see Basu [1997] or Ball et al. [2009] for a recent overview). In this note we propose an alternative, but closely...
Persistent link: https://www.econbiz.de/10003940082
Persistent link: https://www.econbiz.de/10008807574