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Kiel Institute for the World Economy
(30 results)-
White Papers
Distributional Effects Of FDI: How The Interaction Of FDI And Economic Policy Affects Poor Households In Bolivia
June 1, 2006, 12:00am PDT
This paper provides a computable general equilibrium analysis of the medium to long-run impact of FDI inflows on poverty and income distribution in Bolivia. The CGE analysis addresses several...
Provided by Kiel Institute for the World Economy
-
White Papers
Globalization, Pass-Through And Inflation Dynamic
March 1, 2010, 12:00am PST
An important aspect of the globalization process is the increase in interdependence among countries through the deepening of trade linkages. This process should increase competition in each...
Provided by Kiel Institute for the World Economy
-
White Papers
Imports, Pass-Through, And The Structure Of Retail Markets
September 1, 2009, 12:00am PDT
The authors construct a model of trade with heterogeneous retailers to examine the effects of trade liberalization on retail market structure, imports and social welfare. They are especially...
Provided by Kiel Institute for the World Economy
-
White Papers
Unions Power, Collective Bargaining And Optimal Monetary Policy
December 1, 2008, 12:00am PST
The authors study the design of optimal monetary policy (Ramsey policies) in a model with sticky prices and unionized labor markets. Collective wage bargaining and unions monopoly power tend to...
Provided by Kiel Institute for the World Economy
-
White Papers
Monetary Policy Committee Size And Inflation Volatility
September 1, 2007, 12:00am PDT
Previous research on the optimal size of a Monetary Policy Committee (MPC) focused on theoretical analyses and experimental studies. These studies suggest that the ideal monetary policy committee...
Provided by Kiel Institute for the World Economy
-
White Papers
Is Core Money Growth A Good And Stable Inflation Predictor In The Euro Area?
February 1, 2007, 12:00am PST
In this paper, it is analyzed whether core money growth helps to predict future inflation in a useful and reliable way. Using an out-of-sample forecasting exercise and a stability analysis, it is...
Provided by Kiel Institute for the World Economy
-
White Papers
China's Rapid Growth, Yuan Misalignment And Global Imbalances
March 7, 2007, 12:00am PST
This paper develops a new international monetary framework for analysing the domestic and international repercussions of China's exchange rate policy in the context of its rapid development. This...
Provided by Kiel Institute for the World Economy
-
White Papers
Monetary Policy Transmission And The Phillips Curve In A Global Context
June 1, 2007, 12:00am PDT
The standard derivation of a Phillips curve from a DSGE model requires that all variables are measured as deviations from their steady states. But in practice this is not done. The steady state...
Provided by Kiel Institute for the World Economy
-
White Papers
Global Factors, Unemployment Adjustment And The Natural Rate
June 1, 2007, 12:00am PDT
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, the...
Provided by Kiel Institute for the World Economy
-
White Papers
Global Current Account Imbalances And Exchange Rate Adjustment: The Role Of Oil Suppliers
July 11, 2007, 12:00am PDT
The present paper extends the Obstfeld and Rogoff (2005) framework of current account imbalances by the oil exporting countries as a fourth region. It sets the stage for a variety of analysis that...
Provided by Kiel Institute for the World Economy
-
White Papers
How Global Rules Are Established And Stabilized
December 1, 2007, 12:00am PST
This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience...
Provided by Kiel Institute for the World Economy
-
White Papers
Firm Heterogeneity, Credit Constraints, And Endogenous Growth
April 1, 2010, 12:00am PDT
This paper is concerned with the role of firm heterogeneity under credit constraints for economic growth. The authors focus on firm size, innovativeness and credit constraints in a semi-endogenous...
Provided by Kiel Institute for the World Economy
-
White Papers
Religious Orders And Growth Through Cultural Change In Pre-Industrial England
June 29, 2010, 12:00am PDT
The authors advance the hypothesis that cultural values such as high work ethics and thrift, "The Protestant ethic" according to MaxWeber, may have been diffused long before the Reformation,...
Provided by Kiel Institute for the World Economy
-
White Papers
Engel's Law And Growth With Directed Technical Change
May 20, 2010, 12:00am PDT
This paper presents a tractable endogenous two-sector growth model with non-Gorman intra-temporal preferences and directed technical change. One of the two consumption goods is a necessity,...
Provided by Kiel Institute for the World Economy
-
White Papers
A Two-Sector Model Of Public Investment And Growth
July 1, 2010, 12:00am PDT
The authors consider a two-sector economy, where public infrastructure unevenly affects the productivity of the sectors. Private and public capitals are produced with different technologies, and...
Provided by Kiel Institute for the World Economy
-
White Papers
Rising R&D Intensity And Economic Growth
May 17, 2010, 12:00am PDT
Over the past decades, private R&D spending in the US and other developed countries has been growing faster than GDP. In the United States, for example, R&D expenditures (excluding those funded by...
Provided by Kiel Institute for the World Economy
-
White Papers
Two Views On Institutions And Development: The Grand Transition Vs The Primacy Of Institutions
June 30, 2007, 12:00am PDT
The Grand Transition (GT) view claims that economic development is causal to institutional development, and that many institutional changes can be understood as transitions occurring at roughly...
Provided by Kiel Institute for the World Economy
-
White Papers
The Determinants Of Provincial Growth In Indonesia During 1983 - 2003
June 19, 2007, 12:00am PDT
The discussion of income disparity has emphasized the need for research in finding the growth determinant. This paper will investigate the determinants of provincial growth of income per capita....
Provided by Kiel Institute for the World Economy
-
White Papers
Macro Regime And Economic Growth In China
June 24, 2007, 12:00am PDT
In this paper, the authors investigate the relationship between Chinese macroeconomic policy and economic growth, and examine how the choice of macroeconomic regime affects economic performance in...
Provided by Kiel Institute for the World Economy
-
White Papers
Behavior Equilibrium Exchange Rate And Misalignment Of Renminbi: A Recent Empirical Study
March 15, 2007, 12:00am PDT
This paper employs the Behavioral Equilibrium Exchange Rate (BEER) model to estimate the equilibrium real exchange rate of RenMinBi (RMB) and the exchange rate misalignment in China, which covers...
Provided by Kiel Institute for the World Economy
-
White Papers
Trend Growth And The Dynamic Effects Of Government Spending
January 1, 2011, 12:00am PST
The paper studies the macroeconomic effects of government spending shocks in an economy characterized by positive trend growth. It shows that the lower is the trend growth rate the less...
Provided by Kiel Institute for the World Economy
-
White Papers
Transitional Dynamics In The Solow-Swan Growth Model With AK Technology And Logistic Population Change
December 19, 2008, 12:00am PST
This paper offers an alternative way, based on the logistic population growth hypothesis, to yield transitional dynamics in the standard AK model with exogenous savings rate. Within this...
Provided by Kiel Institute for the World Economy
-
White Papers
Industrialization In Malaysia: Changing Role Of Government And Foreign Firms
May 29, 2009, 12:00am PDT
This paper examines the changing role of government and foreign firms in Malaysia's industrialization process. Economists have held different views of the role of government in industrialization....
Provided by Kiel Institute for the World Economy
-
White Papers
Regional Evidence On The Finance - Growth Nexus
July 1, 2006, 12:00am PDT
The finance-growth nexus is a classical source of debate among economists. This paper offers regional evidence on this issue in order to see if it can meet the data within a 140 years old economic...
Provided by Kiel Institute for the World Economy
-
White Papers
Access To Finance And Exporting Behavior In Transition Countries
April 1, 2010, 12:00am PDT
The authors analyze the link between firms' access to finance and their decisions to enter and exit the export market. They employ the Business Environment and Enterprise Performance Survey...
Provided by Kiel Institute for the World Economy
-
White Papers
Poolability And The Finance-growth Nexus: A Cautionary Note
October 1, 2006, 12:00am PDT
The present contribution tests whether countries can be pooled when studying the finance-growth nexus. Overall, the authors' results point toward a 'Pragmatic' positive answer, though considerable...
Provided by Kiel Institute for the World Economy
-
White Papers
The Economic Drivers Of Human Trafficking: Micro-Evidence From Five Eastern European Countries
June 1, 2009, 12:00am PDT
Human trafficking is a humanitarian problem of global scale, but quantitative research on the issue barely exists. This paper is a first attempt to explore the economic drivers of human...
Provided by Kiel Institute for the World Economy
-
White Papers
On The Interplay Between Keynesian And Supply Side Economics
April 1, 2007, 12:00am PDT
Conventional wisdom suggests that nominal, demand-side shocks have only temporary effects on real macroeconomic magnitudes and that the duration of their effects depends on the degree of nominal...
Provided by Kiel Institute for the World Economy
-
White Papers
Monetary Policy And Swedish Unemployment Fluctuations
February 1, 2008, 12:00am PST
A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects...
Provided by Kiel Institute for the World Economy
-
White Papers
Anticipated And Unanticipated Oil Price Shocks And Optimal Monetary Policy
February 20, 2008, 12:00am PST
This paper studies the welfare effects of several monetary policy rules in the presence of anticipated and unanticipated oil price shocks. The authors' analysis is based on a stylized New...
Provided by Kiel Institute for the World Economy
-
White Papers
Anticipated And Unanticipated Oil Price Shocks And Optimal Monetary Policy
February 20, 2008, 12:00am PST
This paper studies the welfare effects of several monetary policy rules in the presence of anticipated and unanticipated oil price shocks. The authors' analysis is based on a stylized New...
Provided by Kiel Institute for the World Economy
-
White Papers
Monetary Policy And Swedish Unemployment Fluctuations
February 1, 2008, 12:00am PST
A widely spread belief among economists is that monetary policy has relatively short-lived effects on real variables such as unemployment. Previous studies indicate that monetary policy affects...
Provided by Kiel Institute for the World Economy
-
White Papers
On The Interplay Between Keynesian And Supply Side Economics
April 1, 2007, 12:00am PDT
Conventional wisdom suggests that nominal, demand-side shocks have only temporary effects on real macroeconomic magnitudes and that the duration of their effects depends on the degree of nominal...
Provided by Kiel Institute for the World Economy
-
White Papers
The Economic Drivers Of Human Trafficking: Micro-Evidence From Five Eastern European Countries
June 1, 2009, 12:00am PDT
Human trafficking is a humanitarian problem of global scale, but quantitative research on the issue barely exists. This paper is a first attempt to explore the economic drivers of human...
Provided by Kiel Institute for the World Economy
-
White Papers
Poolability And The Finance-growth Nexus: A Cautionary Note
October 1, 2006, 12:00am PDT
The present contribution tests whether countries can be pooled when studying the finance-growth nexus. Overall, the authors' results point toward a 'Pragmatic' positive answer, though considerable...
Provided by Kiel Institute for the World Economy
-
White Papers
Access To Finance And Exporting Behavior In Transition Countries
April 1, 2010, 12:00am PDT
The authors analyze the link between firms' access to finance and their decisions to enter and exit the export market. They employ the Business Environment and Enterprise Performance Survey...
Provided by Kiel Institute for the World Economy
-
White Papers
Regional Evidence On The Finance - Growth Nexus
July 1, 2006, 12:00am PDT
The finance-growth nexus is a classical source of debate among economists. This paper offers regional evidence on this issue in order to see if it can meet the data within a 140 years old economic...
Provided by Kiel Institute for the World Economy
-
White Papers
Industrialization In Malaysia: Changing Role Of Government And Foreign Firms
May 29, 2009, 12:00am PDT
This paper examines the changing role of government and foreign firms in Malaysia's industrialization process. Economists have held different views of the role of government in industrialization....
Provided by Kiel Institute for the World Economy
-
White Papers
Transitional Dynamics In The Solow-Swan Growth Model With AK Technology And Logistic Population Change
December 19, 2008, 12:00am PST
This paper offers an alternative way, based on the logistic population growth hypothesis, to yield transitional dynamics in the standard AK model with exogenous savings rate. Within this...
Provided by Kiel Institute for the World Economy
-
White Papers
Trend Growth And The Dynamic Effects Of Government Spending
January 1, 2011, 12:00am PST
The paper studies the macroeconomic effects of government spending shocks in an economy characterized by positive trend growth. It shows that the lower is the trend growth rate the less...
Provided by Kiel Institute for the World Economy
-
White Papers
Behavior Equilibrium Exchange Rate And Misalignment Of Renminbi: A Recent Empirical Study
March 15, 2007, 12:00am PDT
This paper employs the Behavioral Equilibrium Exchange Rate (BEER) model to estimate the equilibrium real exchange rate of RenMinBi (RMB) and the exchange rate misalignment in China, which covers...
Provided by Kiel Institute for the World Economy
-
White Papers
Macro Regime And Economic Growth In China
June 24, 2007, 12:00am PDT
In this paper, the authors investigate the relationship between Chinese macroeconomic policy and economic growth, and examine how the choice of macroeconomic regime affects economic performance in...
Provided by Kiel Institute for the World Economy
-
White Papers
The Determinants Of Provincial Growth In Indonesia During 1983 - 2003
June 19, 2007, 12:00am PDT
The discussion of income disparity has emphasized the need for research in finding the growth determinant. This paper will investigate the determinants of provincial growth of income per capita....
Provided by Kiel Institute for the World Economy
-
White Papers
Two Views On Institutions And Development: The Grand Transition Vs The Primacy Of Institutions
June 30, 2007, 12:00am PDT
The Grand Transition (GT) view claims that economic development is causal to institutional development, and that many institutional changes can be understood as transitions occurring at roughly...
Provided by Kiel Institute for the World Economy
-
White Papers
Rising R&D Intensity And Economic Growth
May 17, 2010, 12:00am PDT
Over the past decades, private R&D spending in the US and other developed countries has been growing faster than GDP. In the United States, for example, R&D expenditures (excluding those funded by...
Provided by Kiel Institute for the World Economy
-
White Papers
A Two-Sector Model Of Public Investment And Growth
July 1, 2010, 12:00am PDT
The authors consider a two-sector economy, where public infrastructure unevenly affects the productivity of the sectors. Private and public capitals are produced with different technologies, and...
Provided by Kiel Institute for the World Economy
-
White Papers
Engel's Law And Growth With Directed Technical Change
May 20, 2010, 12:00am PDT
This paper presents a tractable endogenous two-sector growth model with non-Gorman intra-temporal preferences and directed technical change. One of the two consumption goods is a necessity,...
Provided by Kiel Institute for the World Economy
-
White Papers
Religious Orders And Growth Through Cultural Change In Pre-Industrial England
June 29, 2010, 12:00am PDT
The authors advance the hypothesis that cultural values such as high work ethics and thrift, "The Protestant ethic" according to MaxWeber, may have been diffused long before the Reformation,...
Provided by Kiel Institute for the World Economy
-
White Papers
Firm Heterogeneity, Credit Constraints, And Endogenous Growth
April 1, 2010, 12:00am PDT
This paper is concerned with the role of firm heterogeneity under credit constraints for economic growth. The authors focus on firm size, innovativeness and credit constraints in a semi-endogenous...
Provided by Kiel Institute for the World Economy
-
White Papers
How Global Rules Are Established And Stabilized
December 1, 2007, 12:00am PST
This paper analyzes how international rules are established and stabilized, i.e. how an international institutional order develops. Rules emerge mainly through learning from negative experience...
Provided by Kiel Institute for the World Economy
-
White Papers
Global Current Account Imbalances And Exchange Rate Adjustment: The Role Of Oil Suppliers
July 11, 2007, 12:00am PDT
The present paper extends the Obstfeld and Rogoff (2005) framework of current account imbalances by the oil exporting countries as a fourth region. It sets the stage for a variety of analysis that...
Provided by Kiel Institute for the World Economy
-
White Papers
Global Factors, Unemployment Adjustment And The Natural Rate
June 1, 2007, 12:00am PDT
OECD unemployment rates show long swings which dominate shorter business cycle components and these long swings show a range of common patterns. Using a panel of 21 OECD countries 1960-2002, the...
Provided by Kiel Institute for the World Economy
-
White Papers
Monetary Policy Transmission And The Phillips Curve In A Global Context
June 1, 2007, 12:00am PDT
The standard derivation of a Phillips curve from a DSGE model requires that all variables are measured as deviations from their steady states. But in practice this is not done. The steady state...
Provided by Kiel Institute for the World Economy
-
White Papers
China's Rapid Growth, Yuan Misalignment And Global Imbalances
March 7, 2007, 12:00am PST
This paper develops a new international monetary framework for analysing the domestic and international repercussions of China's exchange rate policy in the context of its rapid development. This...
Provided by Kiel Institute for the World Economy
-
White Papers
Is Core Money Growth A Good And Stable Inflation Predictor In The Euro Area?
February 1, 2007, 12:00am PST
In this paper, it is analyzed whether core money growth helps to predict future inflation in a useful and reliable way. Using an out-of-sample forecasting exercise and a stability analysis, it is...
Provided by Kiel Institute for the World Economy
-
White Papers
Monetary Policy Committee Size And Inflation Volatility
September 1, 2007, 12:00am PDT
Previous research on the optimal size of a Monetary Policy Committee (MPC) focused on theoretical analyses and experimental studies. These studies suggest that the ideal monetary policy committee...
Provided by Kiel Institute for the World Economy
-
White Papers
Unions Power, Collective Bargaining And Optimal Monetary Policy
December 1, 2008, 12:00am PST
The authors study the design of optimal monetary policy (Ramsey policies) in a model with sticky prices and unionized labor markets. Collective wage bargaining and unions monopoly power tend to...
Provided by Kiel Institute for the World Economy
-
White Papers
Imports, Pass-Through, And The Structure Of Retail Markets
September 1, 2009, 12:00am PDT
The authors construct a model of trade with heterogeneous retailers to examine the effects of trade liberalization on retail market structure, imports and social welfare. They are especially...
Provided by Kiel Institute for the World Economy
-
White Papers
Globalization, Pass-Through And Inflation Dynamic
March 1, 2010, 12:00am PST
An important aspect of the globalization process is the increase in interdependence among countries through the deepening of trade linkages. This process should increase competition in each...
Provided by Kiel Institute for the World Economy
-
White Papers
Distributional Effects Of FDI: How The Interaction Of FDI And Economic Policy Affects Poor Households In Bolivia
June 1, 2006, 12:00am PDT
This paper provides a computable general equilibrium analysis of the medium to long-run impact of FDI inflows on poverty and income distribution in Bolivia. The CGE analysis addresses several...
Provided by Kiel Institute for the World Economy
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