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Title:Twin Deficits, Openness, and the Business Cycle Author(s):CORSETTI, Giancarlo; MÜLLER, Gernot J.Date:2008Citation:
- Journal of the European Economic Association, 2008, Vol. 6, No. 2-3, pp. 404-413
Type:ArticleAbstract:In this article, 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, ...
Title:High exchange-rate volatility and low pass-through Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; LEDUC, SylvainDate:2008Citation:
- Journal of Monetary Economics, 2008, 55, 6, 1113-1128.
Type:ArticleAbstract:Two specifications of an open-economy model are shown to generate high exchange-rate volatility and low exchange-rate pass-through (ERPT). In the model, price discrimination causes ERPT to be incomplete in both the short ...
Title:The extensive margin and monetary policy Author(s):BERGIN, Paul; CORSETTI, GiancarloDate:2008Citation:
- Journal of Monetary Economics, 2008, 55, 7, 1222-1237
Type:ArticleAbstract:The creation of new firms, referred to as the extensive margin, is a significant but overlooked dimension of monetary policy. A monetary VAR documents that monetary policy has significant effects on firm creation. An ...
Title:Does One Soros Make a Difference? A Theory of Currency Crises with Large and Small Traders Author(s):CORSETTI, Giancarlo; DASGUPTA, Amil; MORRIS, Stephen; SHIN, Hyun SongDate:2004Citation:
- Review of Economic Studies, 2004, 71, 1, 87-113
Type:Article
Title:'Some Contagion, some Interdependence': More Pitfalls in Tests of Financial Contagion Author(s):CORSETTI, Giancarlo; PERICOLI, Marcello; SBRACIA, MassimoDate:2005Citation:
- Journal of International Money and Finance, 2005, 24, 8, 1177-1199
Type:ArticleAbstract:This paper builds on a standard factor model of stock market returns to reconsider recent empirical literature on contagion in financial markets based on bivariate correlation analysis. According to this literature, contagion ...
Title:International Dimensions of Optimal Monetary Policy Author(s):CORSETTI, GiancarloDate:2005Citation:
- Journal of Monetary Economics, 2005, 52, 2, 281-305
Type:Article
Title:Twin deficit : squaring theory, evidence and common sense Author(s):CORSETTI, Giancarlo; MÜLLER, Gernot J.Date:2006Citation:
- Economic Policy, 2006, Vol. 21, No. 48, pp. 597-638
Type:ArticleAbstract:Simple accounting suggests that shocks to the government budget move the current account in the same direction, and this `twin deficits' intuition leads many observers to call for fiscal consolidation in the US as a necessary ...
Title:The international risk sharing puzzle is at business cycle and lower frequency Author(s):CORSETTI, Giancarlo; DEDOLA, Luca; VIANI, FrancescaDate:2012Citation:
- Canadian journal of economics, 2012, Vol. 45, No. 2, pp. 448-471
Type:ArticleAbstract:We decompose the correlation between relative consumption and the real exchange rate in its dynamic components at different frequencies. Using multivariate spectral analysis techniques, we show that, at odds with a high ...
Title:Fiscal stimulus with spending reversals Author(s):CORSETTI, Giancarlo; MEIER, André; MÜLLER, Gernot J.Date:2012Citation:
- The review of economics and statistics, 2012, Vol. 94, No. 4, pp. 878-895
Type:ArticleAbstract:The short-run effects of fiscal policy depend not only on current tax and spending choices, but also on expectations about future policy adjustment. While general equilibrium models typically restrict mediumterm adjustment ...
Title:What drives US foreign borrowing? : evidence on external adjustment to transitory and permanent shocks Author(s):CORSETTI, Giancarlo; KONSTANTINOU, Panagiotis T.Date:2012Citation:
- American economic review, 2012, Vol. 102, No. 2, pp. 1062-1092
Type:ArticleAbstract:The joint dynamics of US net output, consumption, and (the market value of) foreign assets and liabilities, characterized empirically following Lettau and Ludvigson (2004), is shown to be consistent with current account ...