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Author: Steffen Henzel
Publisher:
ISBN:
Category :
Languages : en
Pages : 47
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Book Description
Author: Steffen Henzel
Publisher:
ISBN:
Category :
Languages : en
Pages : 47
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Book Description
Author: Alan B. Krueger
Publisher:
ISBN:
Category : Income distribution
Languages : en
Pages : 36
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Book Description
This paper examines the relationship between price growth and skill intensity across 150 manufacturing industries between 1989 and 1995. There are two main findings. First, wage growth and intermediate goods price increases are passed through to final product prices roughly in proportion to their factor shares. Second, product prices have grown relatively less in sectors that more intensively utilize less-skilled labor. The latter finding is consistent with the Stolper-Samuelson theory of expanded trade with countries that are abundant in less-skilled workers, as well as with some models of technological change.
Author: Blen Solomon
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
The price puzzle has been the focus of many studies, however, most of these studies have focused on developed economies and especially on the U.S. Owing to this tendency; we do not know if the VAR framework produces the price puzzle in developing economies. This study investigates the existence of the price puzzle for the period 1980-2003 in Colombia by using Vector Error Correction Model (VECM). Since the sample period of study is not characterized with a uniform monetary policy regime, following Balke and Emery (1994) we divide our sample period according to existent structural breaks. We test for the price puzzle by dividing our sample into pre-1991 period (before inflation targeting started) and during inflation targeting period. We employ impulse response functions as our main tool to investigate the price puzzle. The impulse response functions show that during both the pre-1991 and post 1991 periods, prices do not rise in response to positive shocks in short term interest rates. Therefore we conclude that Colombia does not exhibit the price puzzle. In fact, during both periods as well as the whole sample period, prices are not responsive to short-term interest rate shocks. The unresponsiveness of prices to positive interest rate shocks is not expected since we would anticipate prices to decrease due to a positive interest rate shock.
Author: John A. Vasquez
Publisher: Cambridge University Press
ISBN: 052188179X
Category : History
Languages : en
Pages : 501
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Book Description
A scientific explanation of the onset and expansion of war and the conditions of peace.
Author: Franziska König
Publisher: Springer Science & Business Media
ISBN: 3834994499
Category : Business & Economics
Languages : en
Pages : 358
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Book Description
Franziska König examines the anatomy of uncertainty-governance choice relationships from different theoretical angles, including transaction costs economics, resource-based theory, and real options theory. The book provides, furthermore, comprehensive empirical insights both from secondary data examined with a “vote-counting” analysis as well as from primary data, collected through a “policy-capturing” study.
Author: Guy Meredith
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 44
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Book Description
The forward premium is a notoriously poor predictor of exchange rate movements. This failure must reflect deviations from risk neutrality and/or rational expectations. In addition, a mechanism is needed that generates the appropriate correlation between the forward premium and shocks arising from risk premia or expectations errors. This paper extends McCallum (1994) to show how such a correlation can arise from the response of monetary policy to output and inflation, which are in turn affected by the exchange rate. The theoretical models considered all generate results that are consistent with the forward premium being a biased predictor of short-term exchange rate movements; the bias decreases, however, as the horizon of the exchange rate change lengthens. Another common feature of the models is that the true reduced-form equation for exchange rate changes contains variables other than the interest differential, providing a justification for "eclectic" relationships for forecasting exchange rates. The results, however, remain consistent with using uncovered interest parity as a building block for structural models.
Author:
Publisher:
ISBN:
Category : Labor
Languages : en
Pages : 232
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Book Description
Author:
Publisher: M.E. Sharpe
ISBN: 9780765618641
Category : Cost and standard of living
Languages : en
Pages : 484
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Book Description
Author: Lawrence Mishel
Publisher: Routledge
ISBN: 1315293595
Category : Business & Economics
Languages : en
Pages : 427
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Book Description
The State of Working America, 1996-97 presents a statistical portrait of the standard of living of America's working families based on the most recent data available. By thoroughly analyzing areas such as family income, taxes, wages, jobs, wealth, and poverty, Mishel, Bernstein, and Schmitt show how the current economy is reflected in the lives of American workers. The new edition will update all statistical data and add a chapter on regional differences.
Author: Robert C. Feenstra
Publisher: Princeton University Press
ISBN: 1400873762
Category : Business & Economics
Languages : en
Pages : 496
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Book Description
Trade is a cornerstone concept in economics worldwide. This updated second edition of the essential graduate textbook in international trade brings readers to the forefront of knowledge in the field and prepares students to undertake their own research. In Advanced International Trade, Robert Feenstra integrates the most current theoretical approaches with empirical evidence, and these materials are supplemented in each chapter by theoretical and empirical exercises. Feenstra explores a wealth of material, such as the Ricardian and Heckscher-Ohlin models, extensions to many goods and factors, and the role of tariffs, quotas, and other trade policies. He examines imperfect competition, offshoring, political economy, multinationals, endogenous growth, the gravity equation, and the organization of the firm in international trade. Feenstra also includes a new chapter on monopolistic competition with heterogeneous firms, with many applications of that model. In addition to known results, the book looks at some particularly important unpublished results by various authors. Two appendices draw on index numbers and discrete choice models to describe methods applicable to research problems in international trade. Completely revised with the latest developments and brand-new materials, Advanced International Trade is a classic textbook that will be used widely by students and practitioners of economics for a long time to come. Updated second edition of the essential graduate textbook Current approaches and a new chapter on monopolistic competition with heterogeneous firms Supplementary materials in each chapter Theoretical and empirical exercises Two appendices describe methods for international trade research
