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ID: 090806

Role of China in global external imbalances: some further evidence / Bagnai, Alberto

Bagnai, Alberto	Journal Article
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Publication

2009.

Summary/Abstract

The large imbalances in the current account positions of the US and the Asian economies are seen by most scholars as the main threat to an orderly development of the global economy. While the opinions on the most likely evolution of these imbalances and on their sustainability do differ across observers, ranging from catastrophic to rather optimistic views, almost all agree that some adjustment will have to take place in the near future, and that this adjustment will involve, among other things, a rebalancing of saving and demand across the globe. As an outcome of this process, China shall increasingly supplement the US in the role of engine of global economic growth.

Key Words

Migration ; Fiscal Policy ; Exchange Rate Policy ; Current Account Adjustment ; Trade Simulations ; Global Imbalance - China

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ID: 128155

Small business industrial clusters in China and Italy / Bagnai, Alberto; Sarra, Alessandro

Bagnai, Alberto	Journal Article
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Publication

2012.

Key Words

China ; Italy ; Small Business Industry

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ID: 137728

Systemic risk; contagion; energy sector; OTC commodity derivatives; EMIR / Bagnai, Alberto; Ospina, Christian Alexander Mongeau

Bagnai, Alberto	Article
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Summary/Abstract

Using monthly data from 1994 to 2013 we study the long-run relation of the pre-tax retail prices of gasoline with crude price and the nominal exchange rate. We find a strongly significant long-run relation. We then use the nonlinear ARDL (NARDL) model to assess the asymmetries on both the short- and long-run elasticities, as well as the presence of hysteresis in the pricing behaviour. The estimation results confirm the presence of asymmetry in the long-run elasticities, with significant differences between the crude price and the exchange rate, as well as the presence of hysteresis in the relation between the retail price of gasoline and crude oil price.

Key Words

Exchange Rate ; Energy Prices ; Hysteresis ; Pass - Through ; Asymmetric Cointegration ; Asymmetric Price Adjustment

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