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Defending against Speculative Attacks
Daniels, Tijmen R.; Jager, Henk; Klaassen, Franc - 2008
While virtually all modern models of exchange rate crises recognise that the decision to abandon an exchange rate peg depends on how harshly policy makers are willing to defend the regime, they virtually never model how the exchange rate is defended. In this paper we incorporate both the...
Persistent link: https://www.econbiz.de/10010326005
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Macroeconomic Crisis and Individual Firm Performance: The Mexican Experience
Watkins, Karen; van Dijk, Dick; Spronk, Jaap - 2004
This paper considers financial, operational, solvency, and performance ratios, in order to detect when there were balance sheets’ variations related to the 1994 Mexican currency crisis. Quarterly results for 88 non-financial Mexican companies that survived the crisis are used, and tests for...
Persistent link: https://www.econbiz.de/10010325528
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The Causal Links between Aid and Government Expenditures
Marc, Lukasz - 2014
The most recent literature on aid effectiveness finds a positive effect of aid on growth. To the extent that aid goes through the budget, this either reflects an aid-financed increase in government expenditures (quantity effect) or an improvement in the use of government resources as a result of...
Persistent link: https://www.econbiz.de/10014149694
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Coordination Frictions and The Financial Crisis
Gautier, Pieter A. - 2009
In this note I argue that the desirability of fiscal policy in response to the current crisis depends on whether one views the current crisis as a temporary deviation from a unique equilibrium or as a bad equilibrium out of multiple equilibria. The paper presents a simple Diamond (1982) type of...
Persistent link: https://www.econbiz.de/10010326063
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Catastrophic Medical Expenditure Risk
Flores, Gabriela; O'Donnell, Owen - 2012
Medical expenditure risk can pose a major threat to living standards. We derive decomposable measures of catastrophic medical expenditure risk from reference-dependent utility with loss aversion. We propose a quantile regression based method of estimating risk exposure from cross-section data...
Persistent link: https://www.econbiz.de/10010326388
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The Crisis Sensitivity of European Countries and Regions : Stylized Facts and Spatial Heterogeneity
Groot, Stefan P. T. - 2011
This paper investigates the impact of the recent global recession on European countries and regions. We first present several stylized facts as to the heterogeneous impact of the global recession on individual European countries and regions. We then offer an investigation of three main classes...
Persistent link: https://www.econbiz.de/10013126036
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Competing Recombinant Technologies for Environmental Innovation
Zeppini-Rossi, Paolo - 2014
effect of recombinant innovation of the two technologies. A mechanism of endogenous competition is described involving a … positive externality of increasing returns to investment which are counterbalanced by recombinant innovation. We determine …
Persistent link: https://www.econbiz.de/10014189878
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Innovate or Imitate? Behavioural Technological Change
Hommes, Cars H.; Zeppini, Paolo - 2013
innovators and free imitators, and study the endogenous interplay of innovation decisions, market price dynamics and … technological progress. Innovation and imitation are strategic substitutes and exhibit negative feedback. Endogenous technological … change is the cumulative outcome of innovation decisions. There are three scenarios: market breakdown, Schumpeterian rents …
Persistent link: https://www.econbiz.de/10014038618
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Agglomeration, Innovation and Regional Development : Theoretical Perspectives and Meta-Analysis
de Groot, Henri L. F.; Poot, Jacques; Smit, Martijn - 2014
Innovation and technological change are central to the quest for regional development. In the globally … structure characterised by its extent of specialisation, competition and diversity, to yield innovation and productivity growth … (diversity) and Porter externalities (competition) that have provided alternative explanations for innovation and urban growth …
Persistent link: https://www.econbiz.de/10014048250
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Money - Inflation Nexus in Indonesia: Evidence from a P-Star Analysis
Anglingkusumo, Reza - 2005
In this paper the effect of excess narrow money (MI) on C PI intlation in Indonesiabefore, during, and after the Asian crisis is empirically examined. The standard model for themonetary analysis of inflation, i.e. the P-Star model by Hallman-Porter-Small (1991), isapplied and tested empirically...
Persistent link: https://www.econbiz.de/10010325519