Welcome to our book review site go-pdf.online!
You may have to Search all our reviewed books and magazines, click the sign up button below to create a free account.
Labor and Product Market Reforms and External Imbalances: Evidence from Advanced Economies
We explore the impact of major labor and product market reforms on current account dynamics using a new “narrative” database of major changes in employment protection for regular workers and product market regulation for non-manufacturing industries covering 26 advanced economies over the past four decades. Our main finding is that product market deregulation is associated with a weakening of the current account, while labor market deregulation is associated with an improvement. These effects are transitory and driven by both saving and investment responses. Labor and product market reforms both have a more positive impact on the current account balance when implemented under weak macroeconomic conditions. Our results are broadly consistent with predictions from recent DSGE models with endogenous producer entry and labor market frictions.
Entrepreneurship and Innovation Policy and the Economy
Rigorous nonpartisan research on the effects of economic forces and public policy on entrepreneurship and innovation. Entrepreneurship and innovation are widely recognized as drivers of economic dynamics and long-term prosperity. This series communicates key findings about the implications of entrepreneurial and innovative activity across the economy. Entrepreneurship and Innovation Policy and the Economy, Volume 3, synthesizes key findings about entrepreneurial and innovative activity in the U.S. economy, conveying insights on contemporary challenges and providing an analytical base for policy design. In the first paper, Jorge Guzman, Fiona Murray, Scott Stern, and Heidi Williams examine re...
Are Climate Change Policies Politically Costly?
Are policies designed to avert climate change (Climate Change Policies, or CCPs) politically costly? Using data on governmental popular support and the OECD’s Environmental Stringency Index, we find that CCPs are not necessarily politically costly: policy design matters. First, only market-based CCPs (such as emission taxes) generate negative effects on popular support. Second, the effects are muted in countries where non-green (dirty) energy is a relatively small input into production. Third, political costs are not significant when CCPs are implemented during periods of low oil prices, generous social insurance and low inequality.
Inflation Anchoring and Growth: Evidence from Sectoral Data
Central bankers often assert that low inflation and anchoring of inflation expectations are good for economic growth (Bernanke 2007, Plosser 2007). We test this claim using panel data on sectoral growth for 22 manufacturing industries for 36 advanced and emerging market economies over the period 1990-2014. Inflation anchoring in each country is measured as the response of inflation expectations to inflation surprises (Levin et al., 2004). We find that credit constrained industries—those characterized by high external financial dependence and R&D intensity and low asset tangibility—tend to grow faster in countries with well-anchored inflation expectations. The results are robust to contro...
Aggregate Uncertainty and Sectoral Productivity Growth
We show that an increase in aggregate uncertainty—measured by stock market volatility—reduces productivity growth more in industries that depend heavily on external finance. This effect is larger during recessions, when financing constraints are more likely to be binding, than during expansions. Our statistical method—a difference-in-difference approach using productivity growth for 25 industries for 18 advanced economies over the period 1985-2010—mitigates concerns with omitted variable bias and reverse causality. The results are robust to the inclusion of other sources of interaction effects, such as financial development (Rajan and Zingales, 1998) and counter-cyclical fiscal policy (Aghion et al., 2014). The results also hold if economic policy uncertainty (Baker et al., 2015) is used instead of stock market volatility as the measure of aggregate uncertainty.
The Economic Dimension of Eurasian Integration
How impactful has the Eurasian Economic Union (EAEU) been since it was signed in 2015? This book provides a thorough and critical analysis of economic integration in the EAEU from the perspective of international economic relations. It focuses on trade, FDI, manufacturing, energy, transport and logistics, science and education, digital economy, labour and ecology. The book also addresses the global positioning of the EAEU by evaluating its existing and potential trade agreements both with third countries and regional blocks. Although the EAEU is an established regional entity that has achieved a number of quantitative and qualitative economic results, there needs to be inclusive dialogue at the intra-regional (within the EAEU) and interregional (for instance, BRICS+) levels to further deepen the economic integration in the EAEU. This book will be of interest to academics and policymakers working in Eurasian economic integration, international economic relations and regional studies.
Making the Tunisian Resurgence
This book investigates the socioeconomic factors that triggered Tunisia’s "revolution for dignity” and the current issues and challenges facing its economy while suggesting mechanisms and instruments for their resolution. The author begins by analyzing the roots of the revolution and the post-revolution situation from a political sociology perspective and then diagnoses the Tunisian economy before and after the revolution and identifies the multidimensional binding constraints preventing it from escaping the middle-income trap. The book then explores the pillars of an inclusive development strategy that Tunisia should pursue. The emphasis is made on building inclusive institutions, developing a new social contract and reinventing the country's leadership. Beyond the institutional dimension, the author suggests innovative financial channels, discusses the strategy of a successful integration of the Tunisian economy in the global economy as well as the pillars of its transformation into a knowledge-based economy.
Trade, Investment and Economic Growth
The book contributes to the growing literature pertaining to empirical and policy issues in international trade, foreign capital flows and issues in finance, implications for India and emerging economies related to trade and development interface, and analysis of sector level growth and development in India. Further, the focus is on the policy aspects of these themes and their role in fostering economic development in the context of India and other emerging market economies. The discourse focuses mainly on empirical work and econometric details. The relevant issues are investigated using state of the art techniques such as gravity models, panel co-integration, generalized hyperbolic distribu...
Does an Inclusive Citizenship Law Promote Economic Development?
This paper analyzes the impact of citizenship laws on economic development. We first document the evolution of citizenship laws around the world, highlighting the main features of jus soli, jus sanguinis as well as mixed regimes, and shedding light on the channels through which they could have differentiated impact on economic development. We then compile a data set of citizenship laws around the world. Using cross-country regressions, panel-data techniques, as well as the synthetic control method and subjecting the results to a battery of tests, we find robust evidence that jus soli laws—being more inclusive—lead to higher income levels than alternative citizenship rules in developing countries, though to a less extent in countries with stronger institutional environment.
