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Are current account deficits sustainable? New evidence from Iran using bounds test approach to level relationship

Heidari, Hassan; Katircioglu, Salih Turan; Davoudi, Narmin - Institut für Weltwirtschaft (IfW) - 2012

This paper provides new evidence on the long-run relationship between exports and imports of the Iranian economy by employing bounds test approach to level relationship. In Iran, there have been many unusual policy changes and/or external shocks to the economy which resulted in the occurrence of...

Persistent link: https://www.econbiz.de/10010956087

Current Account Imbalances and Income Inequality: Theory and Evidence

Al-Hussami, Fares; Remesal, Álvaro Martín - Institut für Weltwirtschaft (IfW) - 2012

In this paper we analyze theoretically and empirically the impact of an increase in income inequality on the current account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in income inequality can affect negatively or positively...

Persistent link: https://www.econbiz.de/10010886828

A Note on Human Capital and the Feldstein-Horioka Puzzle

Katsimi, Margarita; Moutos, Thomas - Institut für Weltwirtschaft (IfW) - 2007

view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to …

Persistent link: https://www.econbiz.de/10005083333

Should We Trust the Empirical Evidence from Present Value Models of the Current Account?

Mercereau, Benoît; Miniane, Jacques Alain - Institut für Weltwirtschaft (IfW) - 2008

The present value model of the current account has been very popular, as it provides an optimal benchmark to which actual current account series have often been compared. We show why persistence in observed current account data makes the estimated optimal series very sensitive to small-sample...

Persistent link: https://www.econbiz.de/10005083366

Global Current Account Imbalances and Exchange Rate Adjustment: The Role of Oil Suppliers Valuation Effects and Interest Rate Changes

Oberpriller, Christian M. - Institut für Weltwirtschaft (IfW) - 2007

The present paper extends the Obstfeld and Rogoff (2005) framework of current account imbalances by the oil exporting countries as a fourth region. It sets the stage for a variety of analysis that can be conducted within a four-region-setting that accounts for the importance of OPEC as a major...

Persistent link: https://www.econbiz.de/10005700490

Exchange Rates and Global Imbalances: The Importance of Asset Valuation Effects and Interest Rate Changes

Oberpriller, Christian M. - Institut für Weltwirtschaft (IfW) - 2007

This paper analyzes two effects which might have an important impact on a reduction of global external imbalances. These are valuation effects on the one hand and interest rate effects on the other hand. We use a four-region model that is based on the models by Obstfeld and Rogoff (2005) and...

Persistent link: https://www.econbiz.de/10005818773

Why do within firm-product export prices differ across markets?

Görg, Holger; Halpern, László; Muraközy, Balász - Institut für Weltwirtschaft (IfW) - 2010

In this paper we analyze the relationship between gravity variables and f.o.b. export unit values using Hungarian firm …-product-destination data. By taking firm-product level selection into account we show that export unit values increase with distance even for …: first, firms may export different quality versions of the same product to different markets. Secondly, directly exporting …

Persistent link: https://www.econbiz.de/10008562522

Subsidies and Exports in Germany. First Evidence from Enterprise Panel Data

Girma, Sourafel; Görg, Holger; Wagner, Joachim - Institut für Weltwirtschaft (IfW) - 2009

subsidies on export activities we find no impact of subsidies on the probability to start exporting, and only weak evidence for …

Persistent link: https://www.econbiz.de/10005076112

Fisherian and Ricardian trade

Sinn, Stefan - Institut für Weltwirtschaft (IfW) - 1991

This paper discusses the difference between Fisherian and Ricardian trade in terms of a simple two-period model of a small open economy. Fisherian or intertemporal trade occurs when goods are traded today against the promise to deliver goods in the future. The resulting net resource transfer is...

Persistent link: https://www.econbiz.de/10009276261

Does Migration Raise Agricultural Investment? An Empirical Analysis for Rural Mexico

Böhme, Marcus - Institut für Weltwirtschaft (IfW) - 2013

whereas migration itself seems to be the superior investment option compared to other productive activities such as livestock …

Persistent link: https://www.econbiz.de/10010886841