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  1. Implications of the slowdown in trend growth for fiscal policy in a small open economy
    Author: Beames, Alexander; Kulish, Mariano; Yamout, Nadine
    Published: May 2020
    Publisher:  Australian National University, Crawford School of Public Policy, Centre for Applied Macroeconomic Analysis, Canberra

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    Verlag (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    VSP 1716
    Inter-library loan:
    No inter-library loan
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Series: CAMA working paper ; 2021, 18 (February 2021)
    Subjects: Open economy; trend growth; fiscal policy; real business cycles; estimation; structuralbreaks
    Scope: 1 Online-Ressource (circa 39 Seiten), Illustrationen
  2. Is there consumer risk-pooling in the open economy?
    the evidence reconsidered
    Author: Minford, Patrick; Ou, Zhirong; Zhu, Zheyi
    Published: October 2020
    Publisher:  Cardiff Business School, Cardiff University, Cardiff, United Kingdom

    We revisit the evidence on consumer risk-pooling and uncovered interest parity. Widely used singleequation tests are strongly biased against both. Using the full-model, Indirect Inference test, which is unbiased and has Goldilocks power by Monte... more

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    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Location:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signature:
    DS 159
    Inter-library loan:
    No inter-library loan

     

    We revisit the evidence on consumer risk-pooling and uncovered interest parity. Widely used singleequation tests are strongly biased against both. Using the full-model, Indirect Inference test, which is unbiased and has Goldilocks power by Monte Carlo experiments, we …nd that both the risk-pooling hypothesis and its weaker UIP version are generally accepted as part of a full world DSGE model.The fact that the risk-pooling hypothesis, with its implication of strong cross-border consumer linkage,has passed this test with generally the highest p-value, suggests that it deserves serious attention from policy-makers looking for a relevant model to discuss international monetary and other business cycle issues.

     
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    Source: Union catalogues
    Language: English
    Media type: Book
    Format: Online
    Other identifier:
    hdl: 10419/250322
    Series: Cardiff economics working papers ; no. E2020, 12
    Subjects: Open economy; consumer risk-pooling; UIP; full-model test; IndirectInference
    Scope: 1 Online-Ressource (circa 13 Seiten), Illustrationen