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| Registros recuperados: 10 | |
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| Miljkovic, Dragan; Paul, Rodney. |
| This study examines the causes of the countercyclicality of the trade balance in the three major sectors of the U.S. economy: services, manufacturing, and agriculture. These results are compared with the results pertinent to the U.S. economy as a whole. At the macroscopic level, Sachs’ hypothesis seems to explain the countercyclicality of the trade balance, while results are mixed across individual sectors. The services sector may be explained by Sachs’ hypothesis, while results for the manufacturing sector are more consistent with the real business cycle hypothesis. The results for the agricultural sector, however, cannot be explained by either hypothesis. |
| Tipo: Journal Article |
Palavras-chave: Decomposition of variance; Real business cycle; Trade balance; Agribusiness; International Relations/Trade; F4; E32. |
| Ano: 2008 |
URL: http://purl.umn.edu/47271 |
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| Hefeker, Carsten; Nabor, Andreas. |
| Most proposals for Asian monetary cooperation assign a special role to the Japanese yen as an anchor currency. We focus instead on the potential role of the Chinese renminbi. It becomes increasingly clear that China will assume the role of the dominant economy in the region, and that it will become a more important destination for Asian products than Japan in as little as five years. This development should assign a special role to the Chinese currency and its exchange rate to the other Asian currencies. It is rather unlikely that the renminbi will assume a dominant role immediately but by drawing comparisons with the European monetary integration process, it seems possible to design a system in which most of the present currencies have a role, but where... |
| Tipo: Working or Discussion Paper |
Palavras-chave: China; Asia; Monetary Integration; Exchange Rate Regimes.; Financial Economics; F3; F4. |
| Ano: 2002 |
URL: http://purl.umn.edu/26125 |
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| Sudekum, Jens. |
| One of the most prominent instruments of regional policy is to foster education and human capital formation in economically lagging regions. However, regional policy of this type can actually hurt instead of help the poor areas. The reason is that individual geographical mobility increases with the personal skill level. Through education subsidies, particularly if targeted on relatively high skilled workers, individuals can cross some threshold level of qualification beyond which emigration accrues. Regional policies then result in a human capital flight harmful to individuals remaining in the economic periphery. This fatal result does not hold for such policies that foster basic education and focus on the relatively low skilled. |
| Tipo: Working or Discussion Paper |
Palavras-chave: Regional Policy; Education Subsidies; Human Capital; Labour Mobility; European Union; Labor and Human Capital; H3; F4; R1. |
| Ano: 2002 |
URL: http://purl.umn.edu/26130 |
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| Grier, Kevin; Hernandez-Trillo, Fausto. |
| Exchange rate management is a salient macroeconomic issue, especially in developing countries. In this paper, we study political economy factors that may affect the real exchange rate (RER) process and the real economic effects of the RER. We review recent literature on the effects of elections on the exchange rate, and adapt Ball’s (1992) model to show that uncertainty about the future course of policy may make more appreciated RER’s less predictable. We also review the literature on the real effect of RER appreciations and of RER uncertainty. We then construct a simultaneous GARCH-M model of the joint determination of the RER and output capable of testing our hypotheses simultaneously in a single model. We estimate the model using data first from Mexico,... |
| Tipo: Journal Article |
Palavras-chave: Real exchange rate volatility; Economic growth; Electoral cycle; F3; F4; O42. |
| Ano: 2007 |
URL: http://purl.umn.edu/43637 |
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| Suedekum, Jens. |
| Regional unemployment rates in the European Union (EU-15) reveal a core-periphery structure. Large "core" regions in the middle of the continent have low unemployment rates, whereas excessive mass unemployment is predominantly found in the peripheral regions at the outside borders of EU-15. This geographical pattern of unemployment rates follows the pattern of GDP per capita. That is, the regions with low (high) unemployment rates on average have comparatively high (low) real income levels. In this paper we try to understand this stylised fact with the help of a theoretical model that builds on two strings in the literature: the recent trade and location theories (like the ´new economic geography´) and the ´wage curve´. Standard models of the new location... |
| Tipo: Working or Discussion Paper |
Palavras-chave: Regional Unemployment; Economic Geography; Increasing Returns; Wage Curve; Migration; Labor Mobility; Labor and Human Capital; R1; F4; J6. |
| Ano: 2004 |
URL: http://purl.umn.edu/26358 |
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| Registros recuperados: 10 | |
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