Download or read book Temporary Shocks and Unavoidable Transitions to a High unemployment Regime written by Wouter J. Den Haan and published by . This book was released on 2003 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Working Paper Series written by and published by . This book was released on 2002 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Handbook of Economic Growth written by Philippe Aghion and published by Elsevier. This book was released on 2005-12-21 with total page 839 pages. Available in PDF, EPUB and Kindle. Book excerpt: Featuring survey articles by leading economists working on growth theory, this two-volume set covers theories of economic growth, the empirics of economic growth, and growth policies and mechanisms. It also covers technology, trade and geography, and growth and socio-economic development.
Download or read book NBER Reporter written by National Bureau of Economic Research and published by . This book was released on 2002 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Monthly Bulletin written by and published by . This book was released on 2003 with total page 780 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Volatility Employment and the Patterns of FDI in Emerging Markets written by Joshua Aizenman and published by . This book was released on 2002 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this paper is to explore the implications of the deepening presence of multinationals in emerging markets on the cost of macroeconomic volatility there. We find that macroeconomic volatility has a potentially large impact on employment and investment decisions of multinationals producing intermediate inputs in developing countries. This is the case even for risk neutral multinationals, as their profit function is non-linear due to price and productivity effects. For industries with costly capacity, the multinationals would tend to invest in the more stable emerging markets. Higher volatility of productivity shocks in an emerging market producing the intermediate inputs reduces the multinationals' expected profits. High enough instability in such a market would induce the multinationals to diversify intermediate inputs production, investing in several emerging markets. This effect is stronger in lower margin industries. We identify circumstances where this diversification is costly to emerging markets. Such a diversification increases the responsiveness of the multinationals' employment in each country to productivity shocks, channeling the average employment from the more to the less volatile location, and reducing the multinationals' total expected employment in emerging markets.
Download or read book Czech journal of economics and finance written by and published by . This book was released on 2004 with total page 614 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Changes in the Value of Life 1940 1980 written by Dora L. Costa and published by . This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: We present the first nation wide value of life estimates for the United States at more than one point in time. Our estimates are for every ten years between 1940 and 1980, a period when declines in fatal accident rates were historically unprecedented. Our estimated elasticity of value of life with respect to per capita GNP is 1.5 to 1.7. We illustrate the importance of rising value of life for policy evaluation by examining the benefits of improved longevity since 1900, showing that the current marginal increase in longevity is more valuable than the large increase in the first half of the twentieth century.
Download or read book Why Do Consumer Prices React Less Than Import Prices to Exchange Rates written by Philippe Bacchetta and published by . This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is well known that the extent of pass-through of exchange rate changes to consumer prices is much lower than to import prices. One explanation is local distribution costs. Here we consider an alternative, complementary, explanation based on the optimal pricing strategies of firms. We consider a model where foreign exporting firms sell intermediate goods to domestic firms. Domestic firms assemble the imported intermediate goods and sell final goods to consumers. When domestic firms face significant competition from other domestic final goods producing sectors (e.g., the non-traded goods sector) we show that they prefer to price in domestic currency, while exporting firms tend to price in the exporter's currency. In that case the pass-through to import prices is complete, while the pass-through to consumer prices is zero.
Download or read book Aanwinsten van de Centrale Bibliotheek Queteletfonds written by Bibliothèque centrale (Fonds Quetelet) and published by . This book was released on 2003 with total page 868 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Credit Channel in Middle Income Countries written by Aaron Tornell and published by . This book was released on 2002 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Credit market conditions play a key role in propagating shocks in middle income countries (MICs). In particular, shocks to the spread between domestic and international interest rates have a strong effect on GDP, and an even stronger effect on domestic credit. This strong credit channel is associated with a sharp sectorial asymmetry: the output of the bank-dependent nontradables (N) sector reacts more strongly than tradables (T) output. This asymmetry, in turn, is associated with a strong reaction of the real exchange rate --the relative price between N and T goods. We present a model that reconciles these facts and leads to a well specified estimation framework. From the equilibrium we derive structural VARs that allow us to identify shocks to credit market conditions and trace their effects on the economy. We estimate these structural VARs for a group of MICs and find evidence of a strong credit channel. We argue that at the heart of the MIC credit channel are a deep asymmetry in financing opportunities across N and T sectors, and a severe currency mismatch. This makes movements in the real exchange rate the driving element in the amplification of shocks. Finally, we show that the model's key assumptions are consistent with evidence gleaned from both firm level and aggregate data.
Download or read book High frequency Contagion of Currency Crises in Asia written by Takatoshi Itō and published by . This book was released on 2002 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using daily data during the period of Asian Currency Crises, this paper examines high-frequency contagion effects among Asian six countries. By identifying the origin' (of exchange rate depreciation, or decline in stock prices) and the affected' (currencies, or stock prices) in spillover relationship, Indonesia and Korea are found to be the two main origin countries, affecting exchange rates and stock prices of other countries. Evidence of high-frequency crisis spillover from Thailand to other countries was weak at best. A positive relationship between trade link indices and the contagion coefficients is found, implying that the bilateral trade linkage is an important factor for currency market participants to expect which currency should be affected within days of an original a shock in the exchange rate of a particular country.
Download or read book British National Bibliography for Report Literature written by and published by . This book was released on 2003-03 with total page 94 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Closed Jaguar Open Dragon written by Michael A. Clemens and published by . This book was released on 2002 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book NBER Macroeconomics Annual 1994 written by Stanley Fischer and published by MIT Press. This book was released on 1994 with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the ninth in a series of annuals from the National Bureau of Economic Research that are designed to stimulate research on problems in applied economics, to bring frontier theoretical developments to a wider audience, and to accelerate the interaction between analytical and empirical research in macroeconomics. Contents On the Speed of Transition in Eastern Europe, Philippe Aghion and Olivier Jean Blanchard * The Costs of Business Cycles with Incomplete Markets, Andrew Atkeson and Christopher Phelan * The U.S. Fiscal Problem: Where We Are, How We Got Here and Where We Are Going, Alan Auerbach * The East Asian Miracle Economies, John Page * What Ends Recessions? Christina Romer and David Romer * Toward a Modern Macroeconomic Model Usable for Policy Analysis, Christopher Sims and Eric Leeper
Download or read book Aftershocks written by Seva Gunitskiy and published by Princeton University Press. This book was released on 2017-03-28 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past century, democracy spread around the world in turbulent bursts of change, sweeping across national borders in dramatic cascades of revolution and reform. Aftershocks offers a new global-oriented explanation for this wavelike spread and retreat—not only of democracy but also of its twentieth-century rivals, fascism and communism. Seva Gunitsky argues that waves of regime change are driven by the aftermath of cataclysmic disruptions to the international system. These hegemonic shocks, marked by the sudden rise and fall of great powers, have been essential and often-neglected drivers of domestic transformations. Though rare and fleeting, they not only repeatedly alter the global hierarchy of powerful states but also create unique and powerful opportunities for sweeping national reforms—by triggering military impositions, swiftly changing the incentives of domestic actors, or transforming the basis of political legitimacy itself. As a result, the evolution of modern regimes cannot be fully understood without examining the consequences of clashes between great powers, which repeatedly—and often unsuccessfully—sought to cajole, inspire, and intimidate other states into joining their camps.
Download or read book Policy Matters written by Jose Antonio Ocampo and published by Zed Books. This book was released on 2007-03 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: In 2000, UN member states pledged to halve world poverty by 2015, among other Millennium Development Goals (MDG's). But progress has been elusive since. The chapters in this volume address disparate problems in achieving the UN Development Agenda, from the complex effects of trade and financial liberalisation to the realities of development aid, itself a central pillar of the MDGs. The unifying theme is one of economic and social integration, and an emphasis on long-term strategic investments in education, health and infrastructure.
