Search Results - subject_exact:"Open economy"

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://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://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

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://ebvufind01.dmz1.zbw.eu/10015625806

Sectoral labour shortages and their inflationary pressures

Viziniuc, Mădălin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015638574

The transmission of foreign shocks in a networked economy

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

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669746

Pollution taxes and clean subsidies in an open economy

Kay, Owen - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015546310

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://ebvufind01.dmz1.zbw.eu/10015337684

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The impact of external uncertainty shocks on the Korean economy

Kim, Junhyong - 2025

Article

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://ebvufind01.dmz1.zbw.eu/10015463546

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://ebvufind01.dmz1.zbw.eu/10015441263

Barriers to global capital allocation

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

Persistent link: https://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

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://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://ebvufind01.dmz1.zbw.eu/10015610098

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://ebvufind01.dmz1.zbw.eu/10015556131

On automation, labor reallocation and welfare

Auray, Stéphane; Eyquem, Aurélien - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015556659

The geometry of distribution : the wage curve in the open economy

Ianni, Guido - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015627634

Should monetary and fiscal policy pull in the same direction?

Bergholt, Drago; Røisland, Øistein; Sveen, Tommy; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015484426

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Should monetary and fiscal policy pull in the same direction?

Bergholt, Drago; Røisland, Øistein; Sveen, Tommy; … - 2025

Book / Working Paper

Inefficiencies in globalized economies with labor market frictions

Langot, François; Patureau, Lise; Sopraseuth, Thepthida - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015404471

A micro-founded Kaldor-Pasinetti model considering an open economy : an inter-generational cum life-cycle approach

Oliveira, João Gabriel de Araujo; Vieira, Beatriz Estulano - 2024

This paper expands Baranzini's (1991) approach by introducing the assumption of an open economy to a model of capital accumulation in an intergenerational framework. Our results show the importance of government activity and foreign trade interrelations in determining the path of the income...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014550883

Measuring total labour productivity in the open economy : a proposal

Brondino, Gabriel; Fora-Alcalde, Facund; Casaú Guirao, … - 2024

In the classical approach, one of the main measures of productivity is the so-called 'total labour productivity' (TLP), which can be computed as the reciprocal of the vertically integrated labour required to produce one unit of net output. In closed economies, this index changes exclusively due...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015047750

Currency devaluations, distribution conflict and inflation in a post-Kaleckian open economy model

Campana, Juan Manuel - 2024

The article develops a stylized medium-run post-Kaleckian open economy model with conflict inflation and combines two existing specifications of the income share targets of workers and firms. In the model, only the target of firms is directly affected by the real exchange rate. Workers do not...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015050162

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Currency devaluations, distribution conflict and inflation in a post-Kaleckian open economy model

Campana, Juan Manuel - 2024

Book / Working Paper

Unbalanced Financial Globalization

Capelle, Damien; Pellegrino, Bruno - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015616008

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Unbalanced financial globalization

Capelle, Damien; Pellegrino, Bruno - 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://ebvufind01.dmz1.zbw.eu/10015625661

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://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://ebvufind01.dmz1.zbw.eu/10015667299

Pricing-to-market in business cycle models

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

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669379

How times have changed : the impact of the 2026 Iran war on the U.S. economy

Kilian, Lutz; Plante, Michael; Richter, Alexander W. - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015669404

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How times have changed : the impact of the 2026 Iran war on the U.S. economy

Kilian, Lutz; Plante, Michael; Richter, Alexander W. - 2026

Book / Working Paper

Asymmetric effect of trade openness and exchange rate on economic expansion

Habanabakize, Thomas; Dickason Koekemoer, Zandri - 2026

Understanding the complex interplay between trade openness and fundamental economic factors is essential for promoting sustainable economic development. The current study analyses the asymmetric impact of trade openness and exchange rate on South Africa's economic expansion. The study applied...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676466

Inflation, innovation, and technology transfer in an open economy with variety expansion

Chen, Hung-Ju; Guo, Hao; Huang, Chien-Yu; Yang, Yibai - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015676294

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://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

The International RBC Model Finally Works!

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

Book / Working Paper

A currency premium puzzle

Hassan, Tarek A.; Mertens, Thomas; Wang, Jingye - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016083236

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A currency premium puzzle

Hassan, Tarek A.; Mertens, Thomas; Wang, Jingye - 2026

Book / Working Paper

Trade scope and concentration after 2020 : evidence from a small open economy

Logožar, Klavdij - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016083090

Incomplete insurance and open-economy spillovers of labor market reforms

Hochmuth, Brigitte; Merkl, Christian; Stüber, Heiko - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016073474

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Incomplete insurance and open-economy spillovers of labor market reforms

Hochmuth, Brigitte; Merkl, Christian; Stüber, Heiko - 2026

Book / Working Paper

Incomplete insurance and open-economy spillovers of labor market reforms

Hochmuth, Brigitte; Merkl, Christian; Stüber, Heiko - 2024

Book / Working Paper

An econometric explanation of government expenditure behaviours in Nigeria : the open economy approach

Nwidobie, Barine Michael - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016059642

Tony Thirlwall (21 April 1941 - 8 November 2023)

Pérez Caldentey, Esteban; Moreno-Brid, Juan Carlos - 2023

The departure of Tony Thirlwall, a pioneer, renowned scholar, and a generous mentor, is a major loss to economics. This article reviews his main contributions to economics. The article focuses on his approach and method to economics and on his research output in the theory and empirics of growth...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014550878