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Inflation Targeting and Business Cycle Synchronization

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 2009

Inflation targeting seems to have a small but positive effect on the synchronization of business cycles; countries that target inflation seem to have cycles that move slightly more closely with foreign cycles. Thus the advent of inflation targeting does not explain the decoupling of global...

Persistent link: https://www.econbiz.de/10004973969

Understanding Exchange Rate Volatility Without the Contrivance of Macroeconomics

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 1998

’. Fixed exchange rates are typically stable and floating exchange rates are volatile, but macro phenomena are regime … international finance is explaining these cross-regime differences in exchange rate volatility. The evidence suggests that a switch …

Persistent link: https://www.econbiz.de/10005788957

Fixing Exchange Rates: A Virtual Quest for Fundamentals

Flood, Robert P; Rose, Andrew K - C.E.P.R. Discussion Papers - 1993

Fixed exchange rates are less volatile than floating rates. The volatility of macroeconomic variables, such as money and output, does not change very much across exchange rate regimes, however. This suggests that exchange rate models based only on macroeconomic fundamentals are unlikely to be...

Persistent link: https://www.econbiz.de/10005792135

Exchange Rate Volatility, Monetary Policy, and Capital Mobility: Empirical Evidence on the Holy Trinity

Rose, Andrew K - C.E.P.R. Discussion Papers - 1994

This paper uses a panel of data from 22 countries between 1967 and 1992 to explore the trade-off between the `Holy Trinity' of fixed exchange rates, independent monetary policy, and capital mobility. I use: flexible- and sticky-price monetary exchange rate models to parameterize monetary...

Persistent link: https://www.econbiz.de/10005792404

A Stable International Monetary System Emerges: Bretton Woods, Reversed

Rose, Andrew K - C.E.P.R. Discussion Papers - 2006

gold. It is durable; in contrast to other monetary regimes, no country has yet abandoned an inflation-targeting regime in …

Persistent link: https://www.econbiz.de/10005497858

Gender Gaps and the Rise of the Service Economy

Ngai, Liwa Rachel; Petrongolo, Barbara - C.E.P.R. Discussion Papers - 2014

rise of services, driven by structural transformation and marketization of home production, acts as a gender-biased demand …

Persistent link: https://www.econbiz.de/10011084618

Trends in Hours and Economic Growth

Ngai, Liwa Rachel; Pissarides, Christopher - C.E.P.R. Discussion Papers - 2005

We study long-run trends in aggregate market hours of work and shifts across economic sectors within the context of balanced aggregate growth. We show that a model of many goods and uneven TFP growth in market and home production can rationalize the observed falling or U-shaped aggregate hours...

Persistent link: https://www.econbiz.de/10005124281

State Capacity and Military Conflict

Gennaioli, Nicola; Voth, Hans-Joachim - C.E.P.R. Discussion Papers - 2011

's initial level of domestic political fragmentation. We emphasize the role of the 'Military Revolution', which raised the cost …

Persistent link: https://www.econbiz.de/10009385769

The impact of dark trading and visible fragmentation on market quality

de Jong, Frank; Degryse, Hans; van Kervel, Vincent - C.E.P.R. Discussion Papers - 2011

paper evaluates the impact of dark trading and fragmentation in visible order books on liquidity. We consider global … traditional market only. We find that fragmentation in visible order books improves global liquidity, whereas dark trading has a … detrimental effect. In addition, local liquidity is lowered by fragmentation in visible order books, which suggests that the …

Persistent link: https://www.econbiz.de/10009359491

A Fragmenting Global Economy: A Weakened WTO, Mega FTAs, and Murky Protectionism

Aggarwal, Vinod K; Evenett, Simon J - C.E.P.R. Discussion Papers - 2013

Although the global economy has begun to recover from the 2008-2011 financial crisis, challenges to the world trading system have increased. Several trends are taking public policies further away from the core WTO disciplines of non-discrimination, namely MFN and national treatment. This has...

Persistent link: https://www.econbiz.de/10011084204