Search Results - subject_exact:"Offene Volkswirtschaft"

OPENSIMPLEST : the smallest SFC open economy model

Zezza, Francesco - 2026

This article introduces OPENSIMPLEST, a highly parsimonious stock-flow consistent (SFC) model of an open economy. The model is designed as a pedagogical and analytical benchmark that preserves the core mechanisms of more complex open-economy SFC frameworks while remaining complete, transparent,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015588384

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2026 - Original version: August 2023, this version: January 2026

We use a dynamic spatial general equilibrium model of international investment and production to investigate the real implications of the last five decades of financial globalization. We introduce a wedge accounting framework to estimate country- and time-varying measures of outward and inward...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015605201

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Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2025 - This version: August 2025

Edition: This version: August 2025

Book / Working Paper

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2023

Book / Working Paper

Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 2025 - This version: June 2025

Edition: This version: June 2025

Book / Working Paper

International spillovers from Euro Area monetary policy to advanced small open economies: investment behavior of Czech firms

Audzei, Volha; Franta, Michal - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625661

Trade openness and innovation performance in the EU : an analysis of cluster dynamics

Loučanová, Erika; Olšiaková, Miriam; Paluš, Hubert - 2026

In the modern globalized context, innovation represents a key driver of economic growth, while international trade plays an important role in fostering it. This study examines the relationship between the degree of trade openness and innovation performance across 27 EU member states over the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015625806

Sectoral labour shortages and their inflationary pressures

Viziniuc, Mădălin - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015638574

Neutral real interest rate in an open and small economy : the case of Costa Rica

Segura-Rodriguez, Carlos - 2026

This study estimates Costa Rica's neutral real interest rate (denoted by r∗) for the period spanning from 2010 to 2023. Two different methodologies are employed for this estimation: the semi-structural model introduced by Holston, Laubach, and Williams (2023), and a structural VAR proposed by...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015643975

Fiscal policy and sectoral spillovers in open-economy HANK

De Beauffort, Charles; Rannenberg, Ansgar - 2026

Government spending falls disproportionately on non-tradable services. We show empirically that government spending shocks stimulate private consumption along with sizable spillovers to the goods sector and a relative decline in goods prices. We rationalize these findings with a two-sector...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015667299

Pricing-to-market in business cycle models

Drozd, Lukasz A.; Kolasa, Marcin; Nosal, Jaromir - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015669379

The transmission of foreign shocks in a networked economy

Aguilar, Pablo; Domínguez Díaz, Rubén; Gallegos, … - 2026

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015669746

The international RBC model finally works!

Acharya, Sushant; Challe, Edouard; Coulibaly, Louphou - 2026

We show that incorporating uninsurable countercyclical income risk into a standard international RBC model can qualitatively and quantitatively account for the quantity puzzles in open-economy macro, namely (i) the Backus-Smith puzzle, (ii) the Backus-Kehoe-Kydland puzzle, and (iii) the weak...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015672926

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The international RBC model finally works!

Acharya, Sushant; Challe, Edouard; Coulibaly, Louphou - 2026

Book / Working Paper

Pollution taxes and clean subsidies in an open economy

Kay, Owen - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015546310

Measuring productivity in the open economy : Törnqvist perspectives

Kohli, Ulrich - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015486038

Monetary policy in open economies with production networks

Qui, Zhesheng; Wang, Yicheng; Xu, Le; Zanetti, Francesco - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015168376

Adaptive importance sampling estimation of an open economy model with fiscal policy

Grassi, Stefano; Lorusso, Marco; Ravazzolo, Francesco - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015372979

Flow-specific capital controls for China

Garcia-Barragan, Fernando; Kiu, Guangling - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015333588

The impact of external uncertainty shocks on the Korean economy

Kim, Junhyong - 2025

In this paper, we analyze the impact of external uncertainty shocks on the Korean economy, focusing on Russian geopolitical risks and U.S. monetary policy uncertainty. We find that increases in external uncertainties negatively affect the Korean macroeconomy, with a particularly pronounced...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015337684

Germany's macroeconomic drivers during the pandemic and inflation surge

Hohberger, Stefan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015188994

Optimal government spending in a collateral-constrained small open economy

Hamano, Masashige; Murakami, Yuki - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015190552

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Optimal government spending in a collateral-constrained small open economy

Hamano, Masashige; Murakami, Yuki - 2024

Book / Working Paper

BOK-look: a semi-structural model for Korea's open economy and monetary policy analysis

Jeong, Seungryul; Kang, Seokil; Cho, Hyungbae; Yoon, Jinwoon - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015191521

Monetary policy in open economies with production networks

Qiu, Zhesheng; Wang, Yicheng; Xu, Le; Zanetti, Francesco - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015550622

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Monetary policy in open economies with production networks

Qiu, Zhesheng; Wang, Yicheng; Xu, Le; Zanetti, Francesco - 2025

Book / Working Paper

Monetary policy in open economies with production networks

Qiu, Zhesheng; Wang, Yicheng; Xu, Le; Zanetti, Francesco - 2025

Book / Working Paper

Monetary policy in open economies with production networks

Qiu, Zhesheng; Wang, Yicheng; Xu, Le; Zanetti, Francesco - 2025

Book / Working Paper

Monetary policy in open economies with production networks

Qiu, Zhesheng; Wang, Yicheng Wan; Xu, Le; Zanetti, Francesco - 2025

Book / Working Paper

Monetary policy and exchange rate dynamics in a behavioral open economy model

Kolasa, Marcin; Ravgotra, Sahil; Zabczyk, Pawel - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015574315

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Monetary policy and exchange rate dynamics in a behavioral open economy model

Kolasa, Marcin; Ravgotra, Sahil; Zabczyk, Pawel - 2025

Book / Working Paper

Monetary Policy and Exchange Rate Dynamics in a Behavioral Open Economy Model

Kolasa, Marcin - 2022

Book / Working Paper

Monetary Policy and Exchange Rate Dynamics in a Behavioral Open Economy Model

Kolasa, Marcin; Ravgotra, Sahil; Zabczyk, Pawel - 2022

Book / Working Paper

Interest rate smoothing in the face of energy shocks

Corbellini, Stefano Maria - 2025

This paper analyzes the monetary policy trade-off between defending purchasing power of consumers and keeping moderate debt cost for borrowers, in the framework of a heterogeneous agent New Keynesian open economy hit by a foreign energy price shock. Raising the interest rate indeed combats the...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015329677

Trade-environment nexus in environmental Kuznets curve hypothesis framework : a time series study for Uzbekistan

Ul Haq, Ihtisham; Nurmatov, Norbek; Allayarov, Piratdin; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015417099

Structural change in sub-Saharan Africa : an open economy perspective

Vries, Gaaitzen J. de; Kruse, Hagen; Mensah, Emmanuel Buadi - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015421518

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Structural change in sub-Saharan Africa : an open economy perspective

Vries, Gaaitzen J. de; Kruse, Hagen; Mensah, Emmanuel Buadi - 2024

Book / Working Paper

The food problem and structural change in an imperfectly open economy

Martin, Lisa - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015421619

Upgrading the Czech National Bank's core forecasting model g3+

Brázdik, František; Musil, Karel; Pokorný, Tomáš; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015422406

Unemployment, underemployment, and secular stagnation in a small open economy

Hashimoto, Ken'ichi; Ono, Yoshiyasu; Schlegl, Matthias - 2025

In this paper, we develop a small open economy model of secular stagnation that allows for both unemployment and underemployment. While unemployment results from the standard search and matching friction, underemployment in the form of an involuntary shortfall of working hours occurs under...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015463546

From tailwinds to headwinds : emerging and developing economies in the twenty-first century

Mozzanica, Mirco Balatti; Kose, M. Ayhan; McKinnon, Kate; … - 2025

The first quarter of the twenty-first century has been transformative for emerging market and developing economies (EMDEs). These economies now account for about 45 percent of global GDP, up from about 25 percent in 2000, a trend driven by robust collective growth in the three largest EMDEs -...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015463597

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From tailwinds to headwinds : emerging and developing economies in the twenty-first century

Mozzanica, Mirco Balatti; Kose, M. Ayhan; Mckinnon, … - 2025

Book / Working Paper

The effects of climate change on a small and open economy : economic and monetary perspectives

Bejarano, Jesús Antonio; Rodriguez-Novoa, Daniela - 2025

This policy note analyses the impacts of climate change on a small and open economy, emphasizing its effect on monetary policy. We use a New-Keynesian model to evaluate short- and long-term effects of transition climate change shocks - a permanent and anticipated shock to total factor...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015449295

Capital flow freezes

Peiris, M. Udara; Sokolova, Anna; Tsomocos, Dimitrios P. - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015450069

The valuation of economic recovery : the case for investment-led fiscal spending policies in open economies

García, Carlos José; González, Wildo; Valenzuela, Gabriel - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015454440

Corporate taxation in open economies

Šauer, Radek - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015455122

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Corporate taxation in open economies

Šauer, Radek - 2022

Book / Working Paper

Corporate Taxation in Open Economies

Šauer, Radek - 2022

Book / Working Paper

US tariffs in a model with trade and FDI

Celebi, Kaan; Röger, Werner - 2025

The new US administration has a clear agenda of reducing imports to the US and attract FDI by reducing tariffs and using the proceeds for supporting investment in the US. This paper uses a dynamic two country US vs RoW model where monopolistically competitive firms make export and FDI decisions....

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015410995

The dynamics of agricultural productivity gaps : an open-economy perspective

Gollin, Douglas; Lagakos, David; Ma, Xiao; Mandi, Shraddha - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015436338

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The Dynamics of Agricultural Productivity Gaps : An Open-Economy Perspective

Gollin, Douglas; Lagakos, David; Ma, Xiao; Mandi, Shraddha - 2025

Book / Working Paper

A profitability and risk decomposition analysis of the open economy insurance sector

Zmeškal, Zdeněk; Dluhošová, Dana; Lisztwanová, Karolina - 2025

The objective of this paper is to analyse profitability and risk through the return on equity (ROE) measure of the open economy insurance sector in a non-stable economic period with an economic shock chain, during the years 2018-2022, characterised by an overheating economy, the Covid pandemic,...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015436792

Macroeconomic effects of CBDC negative interest policy in an open economy : a comparison of quantity and price rules

Hua, Qiuling; Qiu, Zepeng; Jiang, Tingfeng; Tang, Ke - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015456278

Trade wars, nominal rigidities, and monetary policy

Auray, Stéphane; Devereux, Michael B.; Eyquem, Aurélien - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015458904

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Trade Wars, Nominal Rigidities and Monetary Policy

Auray, Stéphane; Devereux, Michael B.; Eyquem, Aurélien - 2023

Book / Working Paper

More or less openness? : the credit cycle, housing, and policy

Farias, Maria Elisa; Godoy, David R. - 2025

Housing prices have recently risen sharply in many countries, primarily linked to the global credit cycle. Although various factors play a role, the ability of developing countries to navigate this cycle and maintain autonomous monetary policies is crucial. This paper introduces a dynamic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015441002

Optimal allocation of resources in an open economic system with Cobb-Douglas production and trade balances

Tussupova, Kamshat; Murzabekov, Zainelkhriet - 2025

This paper develops a nonlinear optimization model for the optimal allocation of labor and investment resources in a three-sector open economy. The model is based on the Cobb-Douglas production function and incorporates sectoral interdependencies, capital depreciation, trade balances, and import...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015441263

Barriers to global capital allocation

Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015441282

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Barriers to global capital allocation

Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2021

Book / Working Paper

Barriers to global capital allocation

Pellegrino, Bruno; Spolaore, Enrico; Wacziarg, Romain - 2024

Book / Working Paper

The impact of deglobalisation and protectionism on a small open economy - the case of Ireland

Egan, Paul; Roche, Fionn - 2025

The decline in international trade following the financial crisis suggests a shift in globalisation and a transformation of the in- ternational economic order. Protectionist trade policies have gained prominence as certain major economies increasingly im- plement tariffs to safeguard domestic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015563929

A post-Keynesian open economy model of conflict inflation, distribution, employment, and external balance

Jungmann, Benjamin; Hein, Eckhard; Campana, Juan Manuel - 2025

Post-Keynesian conflict inflation models have received renewed attention in the course of the recent inflationary processes related to the recovery from the Covid-19 crisis in 2020 and the hike of energy prices in the context of the start of the Russian war on Ukraine in 2022. Although the basic...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015492230

Demographics and FDI : lessons from China's one-child policy

Donaldson, John B.; Koulovatianos, Christos; Li, Jian; … - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015610098

The Importance of Diagnostic Expectations in Open Economies

Elekdag, Selim - 2025

We develop and estimate a parsimonious New-Keynesian small open-economy model that incorporates Diagnostic Expectations (DE)—a behavioral alternative to Rational Expectations (RE). Under DE, agents systematically overreact to new information, generating additional endogenous volatility. Our...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015612843

Informality and Shock Propagation in an Open Economy

Lizarazo, Sandra - 2025

The informal sector accounts for a large fraction of the economy and labor force in many emerging market and developing economies. This paper develops a dynamic stochastic general equilibrium model of a small open economy with an informal sector. Nominal price and wage rigidities are present in...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015613013

Modelling the green transition of the Chinese economy

An, David - 2025

This paper develops a stock-flow consistent (SFC) macroeconomic model with an energy sector for China to investigate the effect of green policies on green transition and the economy. We provide an analytical solution for green transition that illustrates the relative cost of using conventional...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015549801

Determinacy in multi-country DSGE models : the role of pricing paradigms and economic openness

Girstmair, Stefan - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015555426

Trade wars and global spillovers : a quantitative assessment with ECB-global

Jouvanceau, Valentin; Darracq Pariès, Matthieu; … - 2025

This paper examines the macroeconomic impact of substantial tariffs imposed by the second Trump administration on imports from China and the euro area and their transmission through direct and indirect channels. Using the ECB-Global 3.0 semi-structural model, we show that tariffs raise US import...

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015556131

Portfolio choice analysis in a multi-country macro model

Hu, Chenyue - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015556425

On automation, labor reallocation and welfare

Auray, Stéphane; Eyquem, Aurélien - 2025

Persistent link: https://www.econbiz.de, ebvufind01.dmz1.zbw.eu/10015556659