Browsing Department of Economics (ECO) by Subject "F41"

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Browsing Department of Economics (ECO) by Subject "F41"

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    Title: The International Risk-Sharing Puzzle is at Business Cycle and Lower Frequency  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; VIANI, Francesca Date: 2011-01-01 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We decompose the Backus-Smith [1993] statistic -- a low or negative correlation between relative consumption and the real exchange rate at odds with a high degree of international risk sharing -- in its dynamic components ...
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    Title: Regime Switching Interest Rates and Fluctuations in Emerging Markets  Author(s): GRUSS, Bertrand; MERTENS, Karel Date: 2009 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: We estimate regime switching models for emerging market interest rates and embed the obtained nonlinear dynamics in a small open economy model with a financial friction. We show that the presence of an infrequent regime ...
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    Title: Does One Currency Mean One Price?  Author(s): WOLSZCZAK-DERLACZ, Joanna Date: 2008 Type of Publication: Working Paper Series/Report no.: EUI MWP Abstract: European Monetary Union was expected to have many consequences for the economies of participant countries. Theory suggested that through a higher volume of trade and stronger competition in the Eurozone, a single currency ...
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    Title: Twin Deficits, Openness and the Business Cycle  Author(s): CORSETTI, Giancarlo; MÜLLER, Gernot J. Date: 2007 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: In this paper, we study the co-movement of the government budget balance and the trade balance at business cycle frequencies. In a sample of 10 OECD countries we find that the correlation of the two time series is negative, ...
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    Title: S-Curve Redux: On the International Transmission of Technology Shocks  Author(s): ENDERS, Zeno; MÜLLER, Gernot J. Date: 2006 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: Using vector autoregressions on U.S. time series, we find that technology shocks induce an ‘S’- shaped cross-correlation function for the trade balance and the terms of trade (S-curve). In calibrating a prototypical ...
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    Title: Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism among G7 Countries  Author(s): CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, Sylvain Date: 2006 Type of Publication: Working Paper Series/Report no.: EUI ECO Abstract: This paper investigates the international transmission of productivity shocks in a sample of ve G7 countries. For each country, using long-run restrictions, we identify shocks that increase permanently domestic labor ...