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Inflation can "grease" the wheels of the labor market by relaxing downward wage rigidity but it can also increase uncertainty and have a negative "sand" effect. This paper studies the grease effect of inflation by looking at whether the interaction between inflation and labor market regulations...
Persistent link: https://www.econbiz.de/10010327053
Using a sample of 32 developed and developing countries we analyze the empirical characteristics of Sudden Stops in capital flows and the relevance of balance-sheet effects in the likelihood of their occurrence. We find that large real exchange rate (RER) fluctuations accompanied by Sudden Stops...
Persistent link: https://www.econbiz.de/10010327069
Some key criteria in the optimal currency area literature are that countries should join a currency union if they have closer international trade links and more symmetric business cycles. However, both criteria are endogenous. Frankel and Rose (1998) find that trade intensity increases cycle...
Persistent link: https://www.econbiz.de/10010327158
Berufliche Bildung in der Entwicklungszusammenarbeit (EZA) erlebt derzeit nach einer Phase relativer Vernachlässigung eine Renaissance. Dies hängt einerseits mit dem weltweiten Anstieg der Jugendarbeitslosigkeit, andererseits mit der Erkenntnis, dass Primarschulförderung als Bildungsstrategie...
Persistent link: https://www.econbiz.de/10010377383
Was kann Mikrofinanzierung zu Beschäftigungswachstum und Steigerung des Einkommens ärmerer Bevölkerungsschichten beitragen? Existierende Evidenz, die hier zusammengetragen wird, erlaubt keine erschöpfende Antwort, doch deuten zahlreiche Indizien darauf hin, dass Mikrofinanzierung in...
Persistent link: https://www.econbiz.de/10010378038
Why is GDP so much more volatile in poor countries than in rich ones? To answer this question, we propose a theory of technological diversification. Production makes use of different input varieties, which are subject to imperfectly correlated shocks. As in endogenous growth models,...
Persistent link: https://www.econbiz.de/10011604597
This paper endeavours to provide a comprehensive analysis of the nature and the possible importance of “global excess liquidity”, a concept which has attracted considerable attention in recent years. The contribution of this paper is threefold. First, we present some conceptual discussion on...
Persistent link: https://www.econbiz.de/10011604742