My bibliography
Save this item
The International Elasticity Puzzle Is Worse Than You Think
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Jeanne, Olivier & Son, Jeongwon, 2024. "To what extent are tariffs offset by exchange rates?," Journal of International Money and Finance, Elsevier, vol. 142(C).
- Jeanne, Olivier & Son, Jeongwon, 2012.
"To what extent are tariffs offset by exchange rates?,"
Economics Working Paper Archive
66656, The Johns Hopkins University,Department of Economics.
- Olivier Jeanne, 2020. "To What Extent Are Tariffs Offset by Exchange Rates?," Working Paper Series WP20-1, Peterson Institute for International Economics.
- Olivier Jeanne & Jeongwon Son, 2020. "To What Extent Are Tariffs Offset By Exchange Rates?," NBER Working Papers 27654, National Bureau of Economic Research, Inc.
- Jeanne, Olivier & Son, Jeongwon, 2020. "To What Extent Are Tariffs Offset By Exchange Rates?," CEPR Discussion Papers 15125, C.E.P.R. Discussion Papers.
- Clément Malgouyres & Thierry Mayer, 2018.
"Exports and labor costs: evidence from a French policy,"
Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 154(3), pages 429-454, August.
- Clément Malgouyres & Thierry Mayer, 2018. "Exports and labor costs: Evidence from a French Policy," Sciences Po publications info:hdl:2441/juegcqdoe81, Sciences Po.
- Clément Malgouyres & Thierry Mayer, 2018. "Exports and labor costs: Evidence from a French Policy," SciencePo Working papers hal-03391928, HAL.
- Clément Malgouyres & Thierry Mayer, 2018. "Exports and labor costs: Evidence from a French Policy," Post-Print hal-03391928, HAL.
- Malgouyres, Clément & Mayer, Thierry, 2018. "Exports and labor costs: Evidence from a French Policy," CEPR Discussion Papers 12728, C.E.P.R. Discussion Papers.
- Guillaume Daudin & Jérôme Héricourt & Lise Patureau, 2022.
"International transport costs: new findings from modeling additive costs [Inventories, lumpy trade, and large devaluations],"
Journal of Economic Geography, Oxford University Press, vol. 22(5), pages 989-1044.
- Guillaume Daudin & Jérôme Héricourt & Lise Patureau, 2018. "International Transport costs: New Findings from modeling additive costs," Working Papers hal-01866647, HAL.
- Guillaume Daudin & Jérôme Hericourt & Lise Patureau, 2022. "International transport costs: New findings from modeling additive costs," Post-Print hal-03706999, HAL.
- Guillaume Daudin & Jérôme Héricourt & Lise Patureau, 2022. "International Transport costs: New Findings from modeling additive cost," Working Papers hal-03538476, HAL.
- Daudin, Guillaume & Héricourt, Jérôme & Patureau, Lise, 2022. "International Transport costs: New Findings from modeling additive costs," CEPREMAP Working Papers (Docweb) 2203, CEPREMAP.
- Guillaume Daudin & Jérôme Hericourt & Lise Patureau, 2022. "International transport costs: New findings from modeling additive costs," SciencePo Working papers Main hal-03706999, HAL.
- Matthieu Crozet & Julian Hinz & Federico Trionfetti, 2023.
"Exchange Rate Pass-Around,"
Working Papers
hal-04150476, HAL.
- Federico Trionfetti & Julien Jinz & Matthieu Crozet, 2024. "Exchange Rate Pass-Around," AMSE Working Papers 2412, Aix-Marseille School of Economics, France.
- Crozet, Matthieu & Hinz, Julian & Trionfetti, Federico, 2023. "Exchange rate pass-around," Kiel Working Papers 2247, Kiel Institute for the World Economy (IfW Kiel).
- Dinopoulos, Elias & Kalyvitis, Sarantis & Katsimi, Margarita, 2020. "Variable export price elasticity, product quality, and credit constraints: Theory and evidence from Greek firms," Journal of International Money and Finance, Elsevier, vol. 104(C).
- Eddy Bekkers & Alessandro Antimiani & Caitlyn Carrico & Dorothee Flaig & Lionel Fontagne & Jean Foure & Joseph Francois & Ken Itakura & Zornitsa Kutlina-Dimitrova & William Powers & Bert Saveyn & Robe, 2020.
"Modelling Trade and Other Economic Interactions Between Countries in Baseline Projections,"
Journal of Global Economic Analysis, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, vol. 5(1), pages 273-345, June.
- Eddy Bekkers & Alessandro Antimiani & Caitlyn Carrico & Dorothee Flaig & Lionel Fontagné & Jean Foure & Joseph Francois & Ken Itakura & Zornitsa Kutlina-Dimitrova & William Powers & Bert Saveyn & Robe, 2020. "Modelling trade and other economic interactions between countries in baseline projections," Post-Print hal-03171653, HAL.
- Eddy Bekkers & Alessandro Antimiani & Caitlyn Carrico & Dorothee Flaig & Lionel Fontagné & Jean Foure & Joseph Francois & Ken Itakura & Zornitsa Kutlina-Dimitrova & William Powers & Bert Saveyn & Robe, 2020. "Modelling trade and other economic interactions between countries in baseline projections," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03171653, HAL.
- Christoph E. Boehm & Andrei A. Levchenko & Nitya Pandalai-Nayar, 2023.
"The Long and Short (Run) of Trade Elasticities,"
American Economic Review, American Economic Association, vol. 113(4), pages 861-905, April.
- Christoph E. Boehm & Andrei A. Levchenko & Nitya Pandalai-Nayar, 2020. "The Long and Short (Run) of Trade Elasticities," NBER Working Papers 27064, National Bureau of Economic Research, Inc.
- Levchenko, Andrei & Boehm, Christoph & Pandalai-Nayar, Nitya, 2020. "The Long and Short (Run) of Trade Elasticities," CEPR Discussion Papers 14645, C.E.P.R. Discussion Papers.
- Christoph E. Boehm & Andrei A. Levchenko & Nitya Pandalai-Nayar, 2020. "The Long and Short (Run) of Trade Elasticities," Working Papers 680, Research Seminar in International Economics, University of Michigan.
- Vanessa Alvariez & Michele Fioretti & Ayumu Ken Kikkawa & Monica Morlacco, 2022.
"Two-Sided Market Power in Firm-to-Firm Trade,"
SciencePo Working papers Main
hal-03795736, HAL.
- Vanessa I. Alviarez & Michele Fioretti & Ken Kikkawa & Monica Morlacco, 2023. "Two-Sided Market Power in Firm-to-Firm Trade," NBER Working Papers 31253, National Bureau of Economic Research, Inc.
- Vanessa Alvariez & Michele Fioretti & Ayumu Ken Kikkawa & Monica Morlacco, 2022. "Two-Sided Market Power in Firm-to-Firm Trade," Working Papers hal-03795736, HAL.
- Alviarez, Vanessa & Fioretti, Michele & Kikkawa, Ken & Morlacco, Monica, 2023. "Two-Sided Market Power in Firm-to-Firm Trade," IDB Publications (Working Papers) 12798, Inter-American Development Bank.
- Gabriel Felbermayr & Hendrik Mahlkow & Alexander Sandkamp, 2023.
"Cutting through the value chain: the long-run effects of decoupling the East from the West,"
Empirica, Springer;Austrian Institute for Economic Research;Austrian Economic Association, vol. 50(1), pages 75-108, February.
- Gabriel Felbermayr & Hendrik Mahlkow & Alexander Sandkamp, 2022. "Cutting Through the Value Chain: The Long-run Effects of Decoupling the East from the West," WIFO Working Papers 644, WIFO.
- Gabriel J. Felbermayr & Hendrik Mahlkow & Alexander-Nikolai Sandkamp, 2022. "Cutting through the Value Chain: The Long-Run Effects of Decoupling the East from the West," CESifo Working Paper Series 9721, CESifo.
- Felbermayr, Gabriel & Mahlkow, Hendrik & Sandkamp, Alexander-Nikolai, 2022. "Cutting through the value chain: The long-run effects of decoupling the East from the West," Kiel Working Papers 2210, Kiel Institute for the World Economy (IfW Kiel).
- Gabriel J. Felbermayr & Hendrik Mahlkow & Alexander Sandkamp, 2022. "Cutting through the Value Chain: The Long-Run Effects of Decoupling the East from the West," EconPol Policy Brief 41, ifo Institute - Leibniz Institute for Economic Research at the University of Munich.
- Oleg Itskhoki, 2021.
"The Story of the Real Exchange Rate,"
Annual Review of Economics, Annual Reviews, vol. 13(1), pages 423-455, August.
- Itskhoki, Oleg, 2020. "The Story of the Real Exchange Rate," CEPR Discussion Papers 15572, C.E.P.R. Discussion Papers.
- Oleg Itskhoki, 2020. "The Story of the Real Exchange Rate," NBER Working Papers 28225, National Bureau of Economic Research, Inc.
- Sogalla, Robin & Wanner, Joschka & Watabe, Yuta, 2024. "New trade models, same old emissions?," Kiel Working Papers 2267, Kiel Institute for the World Economy (IfW Kiel).
- Palazzo, Gabriel & Rapetti, Martín, 2023. "From macro to micro and macro back: Macroeconomic trade elasticities in a developing economy," Structural Change and Economic Dynamics, Elsevier, vol. 65(C), pages 223-252.
- repec:wsr:wpaper:y:2022:i:196 is not listed on IDEAS
- Agnès Bénassy‐Quéré & Matthieu Bussière & Pauline Wibaux, 2021.
"Trade and currency weapons,"
Review of International Economics, Wiley Blackwell, vol. 29(3), pages 487-510, August.
- Agnès Bénassy-Quéré & Matthieu Bussière & Pauline Wibaux, 2018. "Trade and currency weapons," Working Papers 2018-08, CEPII research center.
- Agnes Benassy-Quere & Matthieu Bussière & Pauline Wibaux, 2018. "Trade and Currency Weapons," CESifo Working Paper Series 7112, CESifo.
- Agnès Bénassy-Quéré & Matthieu Bussière & Pauline Wibaux, 2018. "Trade and currency weapons," Working Papers halshs-01820745, HAL.
- Agnès Bénassy-Quéré & Matthieu Bussière & Pauline Wibaux, 2021. "Trade and currency weapons," Post-Print halshs-03672235, HAL.
- Agnès Bénassy-Quéré & Matthieu Bussière & Pauline Wibaux, 2018. "Trade and currency weapons," PSE Working Papers halshs-01820745, HAL.
- Agnès Bénassy-Quéré & Matthieu Bussière & Pauline Wibaux, 2021. "Trade and currency weapons," PSE-Ecole d'économie de Paris (Postprint) halshs-03672235, HAL.
- Mahlkow, Hendrik & Wanner, Joschka, 2022. "The Carbon Footprint of Global Trade Imbalances," Conference papers 333482, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
- Julien Gourdon & Laura Hering & Stéphanie Monjon & Sandra Poncet, 2022.
"Estimating the Repercussions from China’s Export VAT Rebate Policy,"
PSE-Ecole d'économie de Paris (Postprint)
hal-03274542, HAL.
- Julien Gourdon & Laura Hering & Stéphanie Monjon & Sandra Poncet, 2022. "Estimating the Repercussions from China’s Export VAT Rebate Policy," Post-Print hal-03274542, HAL.
- Charlotte Emlinger & Sébastien Jean & Vincent Vicard, 2019. "L’étonnante atonie des exportations françaises : retour sur la compétitivité et ses déterminants," CEPII Policy Brief 2019-24, CEPII research center.
- Bruno Ducoudre & Xavier Timbeau & Sébastien Villemot, 2018.
"The magnitude of euro area misalignments in 2017,"
PSE Working Papers
hal-03389334, HAL.
- Bruno Ducoudre & Xavier Timbeau & Sébastien Villemot, 2018. "The magnitude of euro area misalignments in 2017," SciencePo Working papers Main hal-03389334, HAL.
- Bruno Ducoudré & Xavier Timbeau & Sébastien Villemot, 2018. "The magnitude of euro area misalignements in 2017," Documents de Travail de l'OFCE 2018-45, Observatoire Francais des Conjonctures Economiques (OFCE).
- Bruno Ducoudre & Xavier Timbeau & Sébastien Villemot, 2018. "The magnitude of euro area misalignments in 2017," Working Papers hal-03389334, HAL.
- Piveteau, Paul & Smagghue, Gabriel, 2019. "Estimating firm product quality using trade data," Journal of International Economics, Elsevier, vol. 118(C), pages 217-232.
- Chin Hee Hahn & Ju Hyun Pyun, 2023. "Real exchange rate shocks and new product margins in the export market," The World Economy, Wiley Blackwell, vol. 46(1), pages 208-235, January.
- Lionel Fontagné & Houssein Guimbard & Gianluca Orefice, 2019.
"Product-Level Trade Elasticities,"
Working Papers
2019-17, CEPII research center.
- Lionel Fontagné & Houssein Guimbard & Gianluca Orefice, 2019. "Product-level Trade Elasticities," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02444897, HAL.
- Fontagné, Lionel & Guimbard, Houssein & Orefice, Gianluca, 2019. "Product-Level Trade Elasticities," Conference papers 333061, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
- Lionel Fontagné & Houssein Guimbard & Gianluca Orefice, 2019. "Product-level Trade Elasticities," Working Papers hal-02444897, HAL.
- Lionel Fontagné & Houssein Guimbard & Gianluca Orefice, 2020.
"Product-Level Trade Elasticities: Worth Weighting For,"
Working Papers
DT/2020/08, DIAL (Développement, Institutions et Mondialisation).
- Lionel Gérard Fontagné & Houssein Guimbard & Gianluca Orefice, 2020. "Product-Level Trade Elasticities: Worth Weighting For," CESifo Working Paper Series 8491, CESifo.
- Dussaux, Damien & Monjon, Stéphanie, 2023.
"Selling under other skies when energy prices skyrocket: How do the companies adapt their export strategy when energy prices rise?,"
Energy Policy, Elsevier, vol. 183(C).
- Damien Dussaux & Stéphanie Monjon, 2023. "Selling under other skies when energy prices skyrocket: how do the companies adapt their export strategy when energy prices rise?," Post-Print hal-04414793, HAL.
- Fontagné, Lionel & Foure, Jean, 2017. "General Equilibrium in the Long Run: a Tentative Quantification of the SSP scenarios," Conference papers 332833, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
- Silvia Fabiani & Alberto Felettigh & Claire Giordano & Roberto Torrini, 2019. "Making room for new competitors. A comparative perspective on Italy’s exports in the euro-area market," Questioni di Economia e Finanza (Occasional Papers) 530, Bank of Italy, Economic Research and International Relations Area.
- Joseph Osaro Denwi & Nenubari John Ikue & Joseph Jite Onodjaefe & Mtomabari Simeon, 2022. "Trade Liberalization Policy and Economic Growth in Africa: A Threshold Analysis," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(7), pages 178-188, October.
- Fontagné, Lionel & Guimbard, Houssein & Orefice, Gianluca, 2022.
"Tariff-based product-level trade elasticities,"
Journal of International Economics, Elsevier, vol. 137(C).
- Lionel Fontagné & Houssein Guimbard & Gianluca Orefice, 2022. "Tariff-based product-level trade elasticities," PSE-Ecole d'économie de Paris (Postprint) hal-03616218, HAL.
- Lionel Fontagné & Houssein Guimbard & Gianluca Orefice, 2022. "Tariff-based product-level trade elasticities," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03616218, HAL.
- Lionel Fontagné & Houssein Guimbard & Gianluca Orefice, 2022. "Tariff-based product-level trade elasticities," Post-Print hal-03616218, HAL.
- Thorbecke, Willem & Chen, Chen & Salike, Nimesh, 2021.
"China’s exports in a protectionist world,"
Journal of Asian Economics, Elsevier, vol. 77(C).
- Willem THORBECKE & Nimesh SALIKE & CHEN Chen, 2020. "China's Exports in a Protectionist World," Discussion papers 20011, Research Institute of Economy, Trade and Industry (RIETI).
- repec:hal:spmain:info:hdl:2441/2i4f6o6mbh8qvo20j61e6hip5s is not listed on IDEAS
- Alvaro Espitia & Nadia Rocha & Michele Ruta, 2020. "Trade in Critical COVID-19 Products," World Bank Publications - Reports 33514, The World Bank Group.
- Figueiredo, Erik & Lima, Luiz Renato & Orefice, Gianluca, 2020. "Migration, trade and spillover effects," Journal of Comparative Economics, Elsevier, vol. 48(2), pages 405-421.
- A. Berthou & E. Dhyne, 2018.
"Exchange Rate Movements, Firm-Level Exports and Heterogeneity,"
Working papers
660, Banque de France.
- Antoine Berthou & Emannuel Dhyne, 2018. "Exchange rate movements,firm-level exports and heterogeneity," Working Paper Research 334, National Bank of Belgium.
- Hendrik Mahlkow & Joschka Wanner, 2023. "The Carbon Footprint of Global Trade Imbalances," CESifo Working Paper Series 10729, CESifo.
- Fitzgerald, Doireann & Haller, Stefanie, 2018.
"Exporters and shocks,"
Journal of International Economics, Elsevier, vol. 113(C), pages 154-171.
- Doireann Fitzgerald & Stephanie Haller, 2017. "Exporters and Shocks," Staff Report 549, Federal Reserve Bank of Minneapolis.
- Bolatto, Stefano & Grazzi, Marco & Tomasi, Chiara, 2022. "Export modes and firms’ adjustments to exchange rate movements," European Economic Review, Elsevier, vol. 141(C).
- Willem THORBECKE & CHEN Chen & Nimesh SALIKE, 2020. "The Relationship between Product Complexity and Exchange Rate Elasticities: Evidence from the People's Republic of China's Manufacturing Industries," Discussion papers 20075, Research Institute of Economy, Trade and Industry (RIETI).
- Hendrik W. Kruse & Inmaculada Martínez‐Zarzoso, 2021. "Transfers in the gravity equation," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 54(1), pages 410-442, February.
- Julien Gourdon & Laura Hering & Stéphanie Monjon & Sandra Poncet, 2022. "Estimating the repercussions from China's export value‐added tax rebate policy," Scandinavian Journal of Economics, Wiley Blackwell, vol. 124(1), pages 243-277, January.
- repec:spo:wpmain:info:hdl:2441/254n423ih78cnainj42ued3i28 is not listed on IDEAS
- Mahlkow, Hendrik & Wanner, Joschka, 2023. "The carbon footprint of global trade imbalances," W.E.P. - Würzburg Economic Papers 108, University of Würzburg, Department of Economics.
- Bruno Ducoudre & Nicolas Yol, 2018.
"Evaluation de l'impact du CICE par une méthode,"
Working Papers
hal-03471572, HAL.
- Bruno Ducoudre & Nicolas Yol, 2018. "Evaluation de l'impact du CICE par une méthode," SciencePo Working papers Main hal-03471572, HAL.
- Picard, Pierre M. & Worrall, Tim, 2020.
"Currency areas and voluntary transfers,"
Journal of International Economics, Elsevier, vol. 127(C).
- Pierre M. Picard & Tim Worrall, 2015. "Currency Areas and Voluntary Transfers," DEM Discussion Paper Series 15-12, Department of Economics at the University of Luxembourg.
- Clément Malgouyres & Thierry Mayer, 2018.
"Exports and labor costs: evidence from a French policy,"
Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 154(3), pages 429-454, August.
- Mayer, Thierry & Malgouyres, Clément, 2018. "Exports and labor costs: Evidence from a French Policy," CEPR Discussion Papers 12728, C.E.P.R. Discussion Papers.
- Clément Malgouyres & Thierry Mayer, 2018. "Exports and labor costs: Evidence from a French Policy," SciencePo Working papers Main hal-03391928, HAL.
- Clément Malgouyres & Thierry Mayer, 2018. "Exports and labor costs: Evidence from a French Policy," Post-Print hal-03391928, HAL.
- repec:spo:wpmain:info:hdl:2441/2i4f6o6mbh8qvo20j61e6hip5s is not listed on IDEAS
- Hélène Latzer & Kiminori Matsuyama & Mathieu Parenti, 2019.
"Reconsidering the Market Size Effect in Innovation and Growth,"
Working Papers ECARES
2019-31, ULB -- Universite Libre de Bruxelles.
- Matsuyama, Kiminori & Latzer, Helene, 2019. "Reconsidering the Market Size Effect in Innovation and Growth," CEPR Discussion Papers 14250, C.E.P.R. Discussion Papers.
- Masuda, Kazuto, 2021. "Trade Policy and the Marshall–Lerner Condition: Application of the Tobit Model," SocArXiv njzk3, Center for Open Science.
- Gimenez-Perales, Victor, 2024. "The dynamics of importer–exporter connections," European Economic Review, Elsevier, vol. 161(C).
- Reinhard Ellwanger & Hinnerk Gnutzmann & Piotr Śpiewanowski, 2023. "Cost Pass-Through with Capacity Constraints and International Linkages," Staff Working Papers 23-16, Bank of Canada.
- Thorbecke, Willem, 2019.
"East Asian value chains, exchange rates, and regional exchange rate arrangements,"
Journal of Asian Economics, Elsevier, vol. 65(C).
- Willem THORBECKE, 2019. "East Asian Value Chains, Exchange Rates, and Regional Exchange Rate Arrangements," Discussion papers 19046, Research Institute of Economy, Trade and Industry (RIETI).
- Eduardo Gutiérrez & César Martín Machuca, 2021. "The effect of tariffs on Spanish goods exports," Working Papers 2121, Banco de España.
- Antoine GODIN & Sakir-Devrim YILMAZ, 2020. "Modelling Small Open Developing Economies in a Financialized World: A Stock-Flow Consistent Prototype Growth Model," Working Paper 5eb7e0e8-560f-4ce6-91a5-5, Agence française de développement.
- Mahlkow, Hendrik & Wanner, Joschka, 2023. "The carbon footprint of global trade imbalances," Kiel Working Papers 2260, Kiel Institute for the World Economy (IfW Kiel).
- repec:hal:spmain:info:hdl:2441/254n423ih78cnainj42ued3i28 is not listed on IDEAS
- Guillaume Daudin & Jérôme Héricourt & Lise Patureau, 2022. "International Transport costs: New Findings from modeling additive cost," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03538476, HAL.
- Fontaine, François & Martin, Julien & Mejean, Isabelle, 2023.
"Frictions and adjustments in firm-to-firm trade,"
CEPR Discussion Papers
18110, C.E.P.R. Discussion Papers.
- Francois Fontaine & Julien Martin & Isabelle Mejean, 2023. "Frictions and Adjustments in Firm-to-Firm Trade," Working Papers 23-03, Chair in macroeconomics and forecasting, University of Quebec in Montreal's School of Management, revised May 2023.
- repec:diw:diwwpp:dp2077 is not listed on IDEAS
- Watabe,Yuta & Sogalla,Robin & Wanner,Joschka, 2024. "New Trade Models, Same Old Emissions?," IDE Discussion Papers 926, Institute of Developing Economies, Japan External Trade Organization(JETRO).
- Santiago Camara & Maximo Sangiacomo, 2022. "Borrowing Constraints in Emerging Markets," Papers 2211.10864, arXiv.org.
- Yohannes Ayele & L. Alan Winters, 2020. "How Do Exchange Rate Depreciations Affect Trade and Prices? A Survey and Lessons about UK Experience after June 2016," Working Paper Series 1420, Department of Economics, University of Sussex Business School.
- repec:hal:spmain:info:hdl:2441/juegcqdoe81pq2u57eide0qm5 is not listed on IDEAS
- Gimenez-Perales, Victor, 2024. "The dynamics of importer–exporter connections," Open Access Publications from Kiel Institute for the World Economy 302106, Kiel Institute for the World Economy (IfW Kiel).