eurozone crisis: beggar thyself and thy neighbour
... correspondingly less. Second, Germany has been unrelenting in squeezing its own workers throughout this period. During the last two decades, the most powerful economy of the eurozone has produced the lowest increases in nominal labour costs, while its workers have systematically lost share of output ...
... correspondingly less. Second, Germany has been unrelenting in squeezing its own workers throughout this period. During the last two decades, the most powerful economy of the eurozone has produced the lowest increases in nominal labour costs, while its workers have systematically lost share of output ...
Fiscal policy and private saving in Australia
... fiscal stance, there is some partial offsetting behaviour. The results imply that fiscal policy does elicit some impact on the real economy which will be partly offset by increased private saving or other crowding out effects. Lower short-run private saving offsets revealed through the error correct ...
... fiscal stance, there is some partial offsetting behaviour. The results imply that fiscal policy does elicit some impact on the real economy which will be partly offset by increased private saving or other crowding out effects. Lower short-run private saving offsets revealed through the error correct ...
the eurozone between austerity and default
... 2. The periphery includes Spain, Portugal and Greece. It also includes Ireland, which is subject to the same pressures as the other three but has several peculiar economic features that call for separate analysis. The periphery has been unable to compete against the core, while being constrained by ...
... 2. The periphery includes Spain, Portugal and Greece. It also includes Ireland, which is subject to the same pressures as the other three but has several peculiar economic features that call for separate analysis. The periphery has been unable to compete against the core, while being constrained by ...
Saving rate
... Household savings declined since mid 1980s 0.4% of household income in 2006 US rates low compared to other countries Low household savings rates may have long-run consequences, but Low household saving can be offset by savings in businesses or government National savings has not declined ...
... Household savings declined since mid 1980s 0.4% of household income in 2006 US rates low compared to other countries Low household savings rates may have long-run consequences, but Low household saving can be offset by savings in businesses or government National savings has not declined ...
Brian Olden (IMF)
... • Initial post-crisis growth momentum looks to be slowingboth in advanced and SEE countries. • Economic recovery will be gradual when growth resumes • Increased debt levels have reduced fiscal space-even for those with relatively low levels-needs to be restored over the medium-term • Financing optio ...
... • Initial post-crisis growth momentum looks to be slowingboth in advanced and SEE countries. • Economic recovery will be gradual when growth resumes • Increased debt levels have reduced fiscal space-even for those with relatively low levels-needs to be restored over the medium-term • Financing optio ...
the effect of interest rate and inflation rate
... exchange rates in Kenya. There are many factors that affect the exchange rate in Kenya and elsewhere in the world, but the study keenly was interested in understanding the relationship between interest rates and inflation rates on exchange rate in Kenya. The development of literature was guided by I ...
... exchange rates in Kenya. There are many factors that affect the exchange rate in Kenya and elsewhere in the world, but the study keenly was interested in understanding the relationship between interest rates and inflation rates on exchange rate in Kenya. The development of literature was guided by I ...
31 Exports of Fishery Products
... some observations were made on the accuracy of the data. The most notable feature is the apparent underestimation of the value of fishery exports. This underestimation appears large and relatively worse than in other trade sectors. In most cases, when the official export values are compared to other ...
... some observations were made on the accuracy of the data. The most notable feature is the apparent underestimation of the value of fishery exports. This underestimation appears large and relatively worse than in other trade sectors. In most cases, when the official export values are compared to other ...
NBER WORKING PAPER SERIES FISCAL POLICY AND MONETARY INTEGRATION IN EUROPE Jordi Gali
... impaired the ability of EMU countries to maintain and increase the public capital stock, which could have possible long-run consequences on the growth potential of these countries that go well beyond their implications for the cyclical properties of fiscal policy. Thus, our first objective in the pr ...
... impaired the ability of EMU countries to maintain and increase the public capital stock, which could have possible long-run consequences on the growth potential of these countries that go well beyond their implications for the cyclical properties of fiscal policy. Thus, our first objective in the pr ...
Currency Board Arrangement Analysis
... zone those with the greatest natural advantages. Under a fixed exchange rate regime, the combination of increased credibility and the elimination of exchange risk can lead to encouraged foreign investment, particularly from other countries within the common currency zone. Because investors know with ...
... zone those with the greatest natural advantages. Under a fixed exchange rate regime, the combination of increased credibility and the elimination of exchange risk can lead to encouraged foreign investment, particularly from other countries within the common currency zone. Because investors know with ...
NBER WORKING PAPER SERIES INTERNATIONAL TRADE IN DURABLE GOODS:
... to replicate trade volatility. They argue that trade balance adjustment may be triggered by investment shocks from either home or foreign country and such adjustment may not cause substantial real exchange rate fluctuations. Warner (1994) finds that global investment demand has been an important det ...
... to replicate trade volatility. They argue that trade balance adjustment may be triggered by investment shocks from either home or foreign country and such adjustment may not cause substantial real exchange rate fluctuations. Warner (1994) finds that global investment demand has been an important det ...
Fiscal Policy and Monetary Integration in Europe
... impaired the ability of EMU countries to maintain and increase the public capital stock, which could have possible long-run consequences on the growth potential of these countries that go well beyond their implications for the cyclical properties of fiscal policy. Thus, our first objective in the pr ...
... impaired the ability of EMU countries to maintain and increase the public capital stock, which could have possible long-run consequences on the growth potential of these countries that go well beyond their implications for the cyclical properties of fiscal policy. Thus, our first objective in the pr ...
Principles of National Accounting for Non
... person eats cannot be eaten by others. Private goods are straightforward for economic accounting and are central to the theory behind the NEA. There are no conceptual changes that are necessary to include non-market private goods (either near-market or personal). Public goods and services, by contr ...
... person eats cannot be eaten by others. Private goods are straightforward for economic accounting and are central to the theory behind the NEA. There are no conceptual changes that are necessary to include non-market private goods (either near-market or personal). Public goods and services, by contr ...
(Textbook) Behavior in Organizations, 8ed (AB Shani)
... Firms in the same industry often undertake foreign direct investment around the same time and tend to direct their investment activities towards certain locations Knickerbocker looked at the relationship between FDI and rivalry in oligopolistic industries (industries composed of a limited number o ...
... Firms in the same industry often undertake foreign direct investment around the same time and tend to direct their investment activities towards certain locations Knickerbocker looked at the relationship between FDI and rivalry in oligopolistic industries (industries composed of a limited number o ...
the impact of real exchange rate volatility on
... conducted to investigate the impact of RER volatility on economic growth; however, no consensus has been reached. It is not known whether volatility in the RER have influenced the Kenyan economic growth. A study by Musyoki et al (2012) on the impact of RER volatility on economic growth reveals that ...
... conducted to investigate the impact of RER volatility on economic growth; however, no consensus has been reached. It is not known whether volatility in the RER have influenced the Kenyan economic growth. A study by Musyoki et al (2012) on the impact of RER volatility on economic growth reveals that ...
________________________________________________________________________________________ _________________________________________________________________________________________ CREDIT Research Paper
... enhance the competitiveness of existing producers, whether import-competing or traditional exports. In an ACP context, this means addressing the primary sector, especially agriculture, and more generally considering the import side of any trade policy (Morrissey, 2005). This is especially relevant t ...
... enhance the competitiveness of existing producers, whether import-competing or traditional exports. In an ACP context, this means addressing the primary sector, especially agriculture, and more generally considering the import side of any trade policy (Morrissey, 2005). This is especially relevant t ...
This PDF is a selection from an out-of-print volume from... of Economic Research
... than for traded goods. Even in a perfect international credit market, agents cannot fully diversify away preference and productivity shocks to nontraded goods through consumption smoothing. Those shocks could induce changes in real exchange rate movements. As a result, relatively higher risk aversio ...
... than for traded goods. Even in a perfect international credit market, agents cannot fully diversify away preference and productivity shocks to nontraded goods through consumption smoothing. Those shocks could induce changes in real exchange rate movements. As a result, relatively higher risk aversio ...
NBER WORKING PAPER SERIES PRNATE CONSUMPTION,
... p 164). An n x 1 vector of variables, St, is said to be cointegrated if there exists at least one non-zero n-element vector ~ such that ~’S~ is trend stationary. This definition does not require that each of individual ...
... p 164). An n x 1 vector of variables, St, is said to be cointegrated if there exists at least one non-zero n-element vector ~ such that ~’S~ is trend stationary. This definition does not require that each of individual ...
The Capital Structure of Nations
... …nancing depends on the value of investments to be funded, the evolution of differences of beliefs between domestic households and international investors on the risk of in‡ation, and the expected risk of default on the nation’s debt. Related Literature. Our paper is related to the literature in int ...
... …nancing depends on the value of investments to be funded, the evolution of differences of beliefs between domestic households and international investors on the risk of in‡ation, and the expected risk of default on the nation’s debt. Related Literature. Our paper is related to the literature in int ...
Full Text [PDF 752KB]
... ative country size of the U.S. has been maintained around 25% throughout the 1980s and gradually declined since the early 1990s. It has fallen at even quicker rate in the subsequent periods, reaching 20% in the late 2000. From a di¤erent perspective, Figure 3 displays the relative importance of the ...
... ative country size of the U.S. has been maintained around 25% throughout the 1980s and gradually declined since the early 1990s. It has fallen at even quicker rate in the subsequent periods, reaching 20% in the late 2000. From a di¤erent perspective, Figure 3 displays the relative importance of the ...
Chapter 18 review
... a. Their development increased rapidly because of the profits they made from oil, and some nations approached the status of developed countries. b. They were unable to repay foreign loans because they spent so much on oil, and they had to give up large amounts of land to lender nations. c. They had ...
... a. Their development increased rapidly because of the profits they made from oil, and some nations approached the status of developed countries. b. They were unable to repay foreign loans because they spent so much on oil, and they had to give up large amounts of land to lender nations. c. They had ...
Business Economics – II (MB1B4): January 2009
... (a) Depreciation is the allowance given for using capital equipment (b) Net factor income from abroad refers to inflow of factor income from abroad minus the corresponding outflow (c) National product at factor cost is always higher than national product at market price (d) GDP at market price is th ...
... (a) Depreciation is the allowance given for using capital equipment (b) Net factor income from abroad refers to inflow of factor income from abroad minus the corresponding outflow (c) National product at factor cost is always higher than national product at market price (d) GDP at market price is th ...
Trade Invoicing in Major Currencies in the 1970s
... the experiences of the U.S. dollar, the Japanese yen, and the Deutsche mark (DM) in the 1970s through the 1990s. We then attempt to draw lessons for China’s renminbi (RMB) internationalization. Our data on the shares of the three major currencies in export invoicing show that the dollar was unequivo ...
... the experiences of the U.S. dollar, the Japanese yen, and the Deutsche mark (DM) in the 1970s through the 1990s. We then attempt to draw lessons for China’s renminbi (RMB) internationalization. Our data on the shares of the three major currencies in export invoicing show that the dollar was unequivo ...
Electoral Cycles and Fiscal Policy in India
... debt that is important for both growth and macroeconomic cycles. We focus on the role of political factors in this time series macro framework covering for the econometric exercises, the period from 1950-51 to 2005-06. The first general elections were conducted in India in 1951, for 489 constituenci ...
... debt that is important for both growth and macroeconomic cycles. We focus on the role of political factors in this time series macro framework covering for the econometric exercises, the period from 1950-51 to 2005-06. The first general elections were conducted in India in 1951, for 489 constituenci ...
No.334 / August 2010 IIIS Discussion Paper No. 334
... pre-crisis period (and, indeed, the quality of the economic research that is supposed to provide a basis for policymaking). The response to the crisis has involved aggressive orthodox and non-orthodox monetary policies, plus fiscal stimulus packages in many countries. With the passing of the most ac ...
... pre-crisis period (and, indeed, the quality of the economic research that is supposed to provide a basis for policymaking). The response to the crisis has involved aggressive orthodox and non-orthodox monetary policies, plus fiscal stimulus packages in many countries. With the passing of the most ac ...