Haku
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Win-Win? Assessing the global impact of the Chinese economy
(12.02.2020)
BOFIT Discussion Papers 4/2020
BOFIT Discussion Papers 4/2020
We study the global impact of the Chinese economy based on a novel indirect approach where the spillover effect is quantified from a forecast error model under relatively favorable identifying conditions. Findings from the ...
Exchange rate pass-through and cross-country spillovers: Some evidence from Ukraine and Russia
(06.10.2016)
BOFIT Discussion Papers 14/2016
BOFIT Discussion Papers 14/2016
This paper studies exchange rate pass-through to consumer prices in Ukraine and Russia considering cross-country linkage and spillover effects. We relax the assumption of “isolated islands” and employ a bilateral panel ...
Monetary policy transmission with two exchange rates and a single currency : The Chinese experience
(21.10.2017)
BOFIT Discussion Papers 14/2017
BOFIT Discussion Papers 14/2017
In emerging market economies, transmission of monetary policy through the foreign exchange market is complicated by the coexistence of financial restrictions and arbitrages. Using China as an example, we show that the ...
Who profits from windfalls in oil tax revenue? Inequality, protests, and the role of corruption
(25.01.2022)
BOFIT Discussion Papers 2/2022
BOFIT Discussion Papers 2/2022
We investigate the relationship between oil windfalls and income inequality using the subnational data of one of the resource-richest and most unequal countries in the world – Russia. While previous literature produced ...
The real value of China’s stock market
(19.01.2018)
BOFIT Discussion Papers 2/2018
BOFIT Discussion Papers 2/2018
This paper shows that, counter to common perception, stock prices in China are strongly linked to firm fundamentals. Since the reforms of the early 2000s, stock prices are as informative about future profits as they are ...
The macroeconomic effects of global supply chain disruptions
(29.12.2022)
BOFIT Discussion Papers 14/2022
BOFIT Discussion Papers 14/2022
Highly interconnected global supply chains make countries vulnerable to sup ply chain disruptions. This paper estimates the macroeconomic effects of global
supply chain shocks for the euro area. Our empirical model combines ...