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Gravity in the Beautiful Game: Labor Market Liberalization and Footballer Migration 美丽比赛中的重力:劳动力市场自由化和足球运动员迁移
4区 经济学
Open Economies Review Pub Date : 2023-10-21 DOI: 10.1007/s11079-023-09733-6
Ben Hamilton
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引用次数: 0
Revisiting the Impact of US Uncertainty Shocks: New Evidence from China’s Investment Dynamics 重新审视美国不确定性冲击的影响:来自中国投资动态的新证据
4区 经济学
Open Economies Review Pub Date : 2023-10-10 DOI: 10.1007/s11079-023-09734-5
Meng Yan, Kai Shi
{"title":"Revisiting the Impact of US Uncertainty Shocks: New Evidence from China’s Investment Dynamics","authors":"Meng Yan, Kai Shi","doi":"10.1007/s11079-023-09734-5","DOIUrl":"https://doi.org/10.1007/s11079-023-09734-5","url":null,"abstract":"","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136296361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Jacques Mélitz 雅克-梅利兹
4区 经济学
Open Economies Review Pub Date : 2023-10-04 DOI: 10.1007/s11079-023-09737-2
David Cobham
{"title":"Jacques Mélitz","authors":"David Cobham","doi":"10.1007/s11079-023-09737-2","DOIUrl":"https://doi.org/10.1007/s11079-023-09737-2","url":null,"abstract":"","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135591535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Current Account Adjustment of the Euro Area in the 2010s: Causes and Policies 2010年代欧元区经常账户调整:原因与政策
4区 经济学
Open Economies Review Pub Date : 2023-09-27 DOI: 10.1007/s11079-023-09732-7
Sandra Pasch, Juha Tervala
{"title":"Current Account Adjustment of the Euro Area in the 2010s: Causes and Policies","authors":"Sandra Pasch, Juha Tervala","doi":"10.1007/s11079-023-09732-7","DOIUrl":"https://doi.org/10.1007/s11079-023-09732-7","url":null,"abstract":"Abstract In the early 2000s, several countries in the euro area (EA), mostly in the South, experienced an increase in current account deficits, while Northern countries saw an increase in current account surpluses. During the euro crisis, the South transitioned from a current account deficit to a surplus, while the North's surplus widened, thereby increasing the EA's overall current account surplus. To analyze the causes of the current account adjustment in the EA during the 2010s and to identify economic policies that reduce external imbalances, we employ a New Keynesian DSGE model with three regions (the North of the EA, the South of the EA, and the rest of the world). Our analysis reveals that the EA's expansionary monetary policy, fiscal consolidation, and lackluster productivity performance explain a significant portion of the current account adjustment. Furthermore, we find that the fiscal revaluation and expansion of the North would have limited effects on external imbalances.","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":"11 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135477601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
One Shock, Many Policy Responses 一次冲击，多种政策回应
4区 经济学
Open Economies Review Pub Date : 2023-09-15 DOI: 10.1007/s11079-023-09730-9
Rui C. Mano, Silvia Sgherri
{"title":"One Shock, Many Policy Responses","authors":"Rui C. Mano, Silvia Sgherri","doi":"10.1007/s11079-023-09730-9","DOIUrl":"https://doi.org/10.1007/s11079-023-09730-9","url":null,"abstract":"","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":"355 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135354155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Shock Absorbing Role of Cross-border Investments: Net Positions Versus Currency Composition 跨境投资的减震作用:净头寸与货币构成
4区 经济学
Open Economies Review Pub Date : 2023-09-11 DOI: 10.1007/s11079-023-09728-3
Agustin S. Benetrix, Beren Demirolmez, Martin Schmitz
{"title":"The Shock Absorbing Role of Cross-border Investments: Net Positions Versus Currency Composition","authors":"Agustin S. Benetrix, Beren Demirolmez, Martin Schmitz","doi":"10.1007/s11079-023-09728-3","DOIUrl":"https://doi.org/10.1007/s11079-023-09728-3","url":null,"abstract":"Abstract We present a comprehensive analysis of the shock absorption role of external positions using the currency exposures dataset by Bénétrix et al. (2020). While the literature has frequently studied how the net international investment position and its currency composition determine the direction and scale of valuation effects, we focus on their amplitude. This is of central importance for global financial stability given the large and increasing scale of external balance sheets. To that end, we propose an indicator showing the extent to which external positions absorb or amplify exchange rate shocks. Analysing a set of 50 countries over the period 1990-2017, we find the external shock absorption role to be present for advanced economies, while this was initially not the case for emerging markets economies (EMEs). In recent years, however, EMEs’ external positions increasingly showed a shock absorption capacity. Our regression-based analysis reveals that the level of economic and financial development is associated with a greater capacity to absorb exchange rate shocks.","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":"43 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135938448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Indirect Inference and Small Sample Bias — Some Recent Results 间接推断和小样本偏差——一些最近的结果
IF 1.2 4区 经济学
Open Economies Review Pub Date : 2023-09-01 DOI: 10.1007/s11079-023-09731-8
David Meenagh, P. Minford, Yongdeng Xu
{"title":"Indirect Inference and Small Sample Bias — Some Recent Results","authors":"David Meenagh, P. Minford, Yongdeng Xu","doi":"10.1007/s11079-023-09731-8","DOIUrl":"https://doi.org/10.1007/s11079-023-09731-8","url":null,"abstract":"","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47582506","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Guaranteeing Trade in a Severe Crisis: Cash Collateral Over Bank Guarantees 在严重危机中保证贸易:现金担保高于银行担保
4区 经济学
Open Economies Review Pub Date : 2023-08-25 DOI: 10.1007/s11079-023-09725-6
Antonis Kotidis, Margaux MacDonald, Dimitris Malliaropulos
{"title":"Guaranteeing Trade in a Severe Crisis: Cash Collateral Over Bank Guarantees","authors":"Antonis Kotidis, Margaux MacDonald, Dimitris Malliaropulos","doi":"10.1007/s11079-023-09725-6","DOIUrl":"https://doi.org/10.1007/s11079-023-09725-6","url":null,"abstract":"Abstract Banks guarantee international trade through letters of credit. This paper analyzes what happens to trade when the critical role of banks as trade guarantors is compromised. Using the case of the Greek capital controls in 2015, the events around which led to a massive loss of confidence in the domestic banking system, we show that firms whose operations were more dependent on domestic banks suffered a steep decline in imports and, subsequently, exports. This operated through letters of credit, which during the capital controls period had to be backed by firms’ own cash collateral rather than the bank guarantee. As a result, cash-poor firms imported relatively less. Public intervention to guarantee transactions is shown to help mitigate some of the decline in imports.","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":"68 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-08-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135285809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Cultural Distance and International Trade 文化距离与国际贸易
IF 1.2 4区 经济学
Open Economies Review Pub Date : 2023-08-07 DOI: 10.1007/s11079-023-09729-2
Jason Query, Jon C. Thompson
{"title":"Cultural Distance and International Trade","authors":"Jason Query, Jon C. Thompson","doi":"10.1007/s11079-023-09729-2","DOIUrl":"https://doi.org/10.1007/s11079-023-09729-2","url":null,"abstract":"","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":" ","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-08-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48792275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
A Match Made in Maastricht: Estimating The Treatment Effect of the Euro On Trade 马斯特里赫特的撮合:估计欧元对贸易的治疗效果
IF 1.2 4区 经济学
Open Economies Review Pub Date : 2023-07-20 DOI: 10.1007/s11079-023-09723-8
Joseph Kopecky
{"title":"A Match Made in Maastricht: Estimating The Treatment Effect of the Euro On Trade","authors":"Joseph Kopecky","doi":"10.1007/s11079-023-09723-8","DOIUrl":"https://doi.org/10.1007/s11079-023-09723-8","url":null,"abstract":"<p>Why do estimates of the European Monetary Union (EMU) effect on trade vary so greatly? Rose (2017) shows that the largest factor determining the size of EMU trade estimates is the choice of sample, with studies using only European or rich countries finding smaller impacts than those using more complete trade datasets. I push this question one step further, asking instead: what is the appropriate comparison group with which to study the euro’s trade impact? Using a first stage estimation of selection into the EMU and a robust propensity score weighting estimator, I extend the work of Millimet and Tchernis (2009) to a larger dataset of countries and years, showing that gravity estimates of the euro effect on trade are smaller when sample truncation and weighting brings the differences in observable characteristics between EMU and non-EMU pairs close to zero. Utilizing a Poisson pseudo-maximum likelihood approach, I find that estimates using this more robust estimator reflect the same pattern, but with significantly less initial upward bias. My work suggests that policy analysis in trade should be more careful to consider the comparability of “treated” and “control” observations, and more readily utilize propensity score methods as a data driven approach to rebalancing samples when differences across these groups are large.</p>","PeriodicalId":46980,"journal":{"name":"Open Economies Review","volume":"51 2","pages":""},"PeriodicalIF":1.2,"publicationDate":"2023-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138519165","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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