Ülo Ennuste Economics

papers and articles in wordpress

Kolmas Ettepanek

RAHVAKOGULE ETTEPANEK „SEADUSLOOMES OSALEMISE JA KAASAMISE RUBRIIGIS“

„Jõustada riigipiirest väljuvate investeeringute/laenude/raha siirete optimaalne maks“

Teaduslikuks põhjenduseks tarvilikku kirjandust leiab artiklitest

Ülo Ennuste. 2012. “Waiting for the Commission Strengthened Governance Coordination Leviathans: Discourse Memo for the Actors in the Macro-Game “European Semester”- Baltic Journal of European Studies“ Vol 2, No 1, 2012 p 139-164 : http://www.ies.ee/iesp/No11/articles/08_Ulo_Ennuste.pdf

Ja      

Shigeto Kitano. 2011. „Capital controls and welfare“ – Journal of Macroeconomics 33 (2011) 700–710: http://www.sciencedirect.com/science/article/pii/S0164070411000553

Kokkuvõte

This paper computes welfare levels under different degree of capital controls and compares

them with the welfare level under perfect capital mobility by using the methodology of Schmitt-

Grohé and Uribe (2007). We show that perfect capital mobility is not always optimal

and that capital controls may enhance an economy’s welfare level. There exists an optimal

degree of capital-account restriction that achieves a higher level of welfare than that under

perfect capital mobility, if the economy has costly financial intermediaries. The results of

our analysis imply that as the domestic financial intermediaries are less efficient, the government

should impose stricter capital controls in the form of a tax on foreign borrowing.

Ja

Alok Johri, Marc-André Letendreand Daqing Luo. 2011. „Organizational capital and the international co-movement of investment“ – Journal of Macroeconomics Volume 33, Issue 4, December 2011, Pages 511–523: http://www.sciencedirect.com/science/article/pii/S0164070411000644

Kokkuvõte

A recent literature explores the macroeconomic implications of organizational capital (OC) and especially its ability to resolve discrepancies between existing models and data. This paper contributes to the OC literature by studying the effect of OC on international investment flows in the context of a two-country real business cycle model. The presence of OC introduces novel considerations into agents’ investment decisions since current investment and future productivity levels are positively linked. These new considerations help bring the model closer to the data. In response to a productivity shock in one country, investment increases in both countries, producing positive international co-movement in investment, a feature of the data that several IRBC models fail to produce.

 

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January 14, 2013 - Posted by | Uncategorized

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