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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 47 |
| Release | : 2009-12-01 |
| Genre | : Business & Economics |
| ISBN | : 1451874243 |
Download Elasticity Optimism Book in PDF, ePub and Kindle
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate substitutability is a weighted average of good-specific elasticities, which in general cannot be inferred from aggregated data. We identify structurally the substitutability in US goods using multilateral trade data. We impose homogeneity, and find an aggregate elasticity similar in value to conventional macroeconomic estimates. It is more than twice larger with sectoral heterogeneity. We discuss the implications in various areas of international economics.
| Author | : Jean Imbs |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 45 |
| Release | : 2009-12-01 |
| Genre | : |
| ISBN | : 9781451874242 |
Download Elasticity Optimism Book in PDF, ePub and Kindle
In most macroeconomic models, the substitutability between domestic and foreign goods is calibrated using aggregated data. This imposes homogeneous elasticities across goods, and the calibration is only valid under this assumption. If elasticities are heterogeneous, the aggregate substitutability is a weighted average of good-specific elasticities, which in general cannot be inferred from aggregated data. We identify structurally the substitutability in US goods using multilateral trade data. We impose homogeneity, and find an aggregate elasticity similar in value to conventional macroeconomic estimates. It is more than twice larger with sectoral heterogeneity. We discuss the implications in various areas of international economics.
| Author | : Paul Streeten |
| Publisher | : |
| Total Pages | : 28 |
| Release | : 1954 |
| Genre | : |
| ISBN | : |
Download Elasticity Optimism and Pessimism in International Trade Book in PDF, ePub and Kindle
| Author | : Vesna Corbo |
| Publisher | : |
| Total Pages | : 36 |
| Release | : 2012 |
| Genre | : Elasticity (Economics) |
| ISBN | : |
Download Optimism Bias? Book in PDF, ePub and Kindle
"The elasticity of substitution between domestic and imported goods is a central parameter in macroeconomic models, but after decades of empirical studies there is no consensus on its magnitude. Earlier literature using time series arrives at low values, while more recent studies using panel-based.econometric methods on disaggregated data find higher values. The authors examine the econometric methodology of this more recent literature, which follows the seminal work by Feenstra (1994), looking in more detail at the effect on the results of the non-linear mapping between reduced-form and structural parameters. Our main contribution is the use of bootstrap methods, which offer more insight into the Feenstra method and can explain why researchers applying it may tend to find high estimates. The bootstrap not only allows us to obtain considerably less biased estimates of the structural elasticity parameter, but also to better characterize their accuracy, a point vastly overlooked by the literature."--Abstract.
| Author | : Giancarlo Gandolfo |
| Publisher | : Springer Science & Business Media |
| Total Pages | : 646 |
| Release | : 2002-06-26 |
| Genre | : Business & Economics |
| ISBN | : 9783540434597 |
Download International Finance and Open-Economy Macroeconomics Book in PDF, ePub and Kindle
"This book deals with the financial side of international economics and covers all aspects of international finance. There are many books and articles by exponents of alternative points of view. I know of no other book that provides the scope, balance, objectivity and rigor of the book." (Professor Jerome L. Stein, Brown University) From the reviews: "In this survey of international finance and open-economy macroeconomics, Gandolfo succeeds in meeting the needs of advanced undergraduate or lower-level graduate students through a largely textual and graphical approach, while at the same time presenting in the appendices explicit mathematical analyses for more advanced graduate students." (Journal of Banking & Finance 2004)
| Author | : Stuart A Bremer |
| Publisher | : Routledge |
| Total Pages | : 940 |
| Release | : 2019-09-06 |
| Genre | : Political Science |
| ISBN | : 1000230023 |
Download The Globus Model Book in PDF, ePub and Kindle
This is a collection of independent works on the GLOBUS model. A first and basic application of the GLOBUS model was made through the computation of its standard run for the years 1970-2010. Stated in the simplest possible terms GLOBUS is a computer simulation model of many important macropolitical and macroeconomic relationships within and among 25 prominent contemporary nations plus a rest-of-world entity. It is designed and used to explore possible solutions to long-term global problems.
| Author | : Robert M. Stern |
| Publisher | : Springer |
| Total Pages | : 373 |
| Release | : 1976-06-18 |
| Genre | : Business & Economics |
| ISBN | : 1349031372 |
Download Price Elasticities in International Trade Book in PDF, ePub and Kindle
| Author | : F.M. Esfandiary |
| Publisher | : |
| Total Pages | : 250 |
| Release | : 1970 |
| Genre | : |
| ISBN | : |
Download Optimism One Book in PDF, ePub and Kindle
| Author | : Yeva Nersisyan |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 491 |
| Release | : 2024-08-06 |
| Genre | : Business & Economics |
| ISBN | : 1788972244 |
Download The Elgar Companion to Modern Money Theory Book in PDF, ePub and Kindle
This Companion is a comprehensive introduction to Modern Money Theory (MMT), covering a wide variety of topics from the nature and origins of money, to the fundamentals of government spending and taxation, to the application of MMT in developed and developing countries.
| Author | : Palek, Jakob |
| Publisher | : kassel university press GmbH |
| Total Pages | : 112 |
| Release | : 2016-01-01 |
| Genre | : |
| ISBN | : 3737600481 |
Download Beyond Divine Coincidence Book in PDF, ePub and Kindle
During the so-called Great Moderation the variability of output, employment and inflation declined substantially in most of the major economies. Because of this positive co-movement the ultimate objective of monetary policy was clear. By stabilizing inflation output will also stay at its potential and the central bank does not face any trade-off between its targets – a situation known as the divine coincidence. With the onset of the financial crisis 2007 these relationships changed. This book contributes to the research on the optimal macroeconomic policy design in the presence of financial frictions. These are incorporated via the cost channel approach into a two-country currency union model. Ultimately, a supply-side effect arises which lowers the efficiency of monetary policy - divine coincidence is not possible any more. Three questions are in the focus of interest of this analysis: What is the optimal monetary policy in the presence of country-specific financial frictions? What role can fiscal policy play? Is macroprudential policy able to improve welfare if the central bank targets a financial stability measure?
