WorldCat Identities

Klein, Michael W. 1958-

Works: 63 works in 329 publications in 2 languages and 6,742 library holdings
Genres: Humor  Fiction  College stories  Commercial treaties  History  Textbooks 
Roles: Editor, Honoree
Classifications: HD5710.75.U6, 331.120973
Publication Timeline
Publications about  Michael W Klein Publications about Michael W Klein
Publications by  Michael W Klein Publications by Michael W Klein
Most widely held works by Michael W Klein
Job creation, job destruction, and international competition by Michael W Klein ( )
11 editions published between 2002 and 2003 in English and held by 1,557 WorldCat member libraries worldwide
Also available on the Internet
Exchange rate regimes in the modern era by Michael W Klein ( )
17 editions published between 2010 and 2012 in English and held by 1,395 WorldCat member libraries worldwide
Michael Klein and Jay Shambaugh focus on the evolution of exchange rate regimes since 1973, identifying the period following the Bretton Woods Agreement (which itself followed the pre-World War I gold standard era) as "the modern era" in international exchange rate regimes. The modern era is marked by a wide variety of experiences with exchange rate regimes, both across and within countries, providing a rich body of data for studying the economic effects of these exchange rate regimes. Klein and Shambaugh offer a comprehensive, integrated treatment of the period. The book draws on and synthesizes data from the recent wave of empirical research on this topic, and includes new findings that challenge preconceived notions about exchange rate regimes and their effects."--BOOK JACKET
Something for nothing a novel by Michael W Klein ( )
7 editions published between 2011 and 2013 in English and held by 974 WorldCat member libraries worldwide
Mathematical methods for economics by Michael W Klein ( Book )
19 editions published between 1997 and 2013 in English and held by 276 WorldCat member libraries worldwide
Multinationals in the new Europe and global trade by Michael W Klein ( Book )
12 editions published between 1991 and 2012 in 3 languages and held by 219 WorldCat member libraries worldwide
The emergence of an integrated European market will provide new opportunities and new challenges to firms operating in the international arena. This volume addresses some timely issues concerning the "new" European market, with a focus on the multinational corporation and foreign direct investment. The topics addressed in this volume include the multinational corporation and global trade, exchange rate pass-through and the international pattern of production, the macroeconomic determinants of foreign direct investment, the interrelationship between technology and multinationals, foreign direct investment in Eastern Europe, foreign direct investment in Germany, Europeanintegration and multinational activity in the European Community, and the behavior of Japanese multinationals in Europe and in the United States
Troubled banks, impaired foreign direct investment : the role of relative access to credit by Michael W Klein ( Book )
15 editions published in 2000 in English and held by 142 WorldCat member libraries worldwide
The relative wealth hypothesis of Froot and Stein (1991), motivated by the aggregate correlation between real exchange rates and foreign direct investment (FDI) observed in the 1980s, cannot explain one of the major shifts in FDI in the 1990s: the continued decline in Japanese FDI during a period of stable stock prices and a rapidly appreciating yen. However, when the relative wealth hypothesis is supplemented with the relative access to credit hypothesis proposed in this study, we are able to show that unequal access to credit by Japanese firms can explain the FDI puzzle in the 1990s. We utilize a unique data set that links individual Japanese firms engaged in FDI to their main banks. Using both bank-level and firm-level data sets, we find that financial difficulties at banks were economically and statistically important in reducing the number of FDI projects by Japanese firms into the United States, even after controlling for the effects associated with the relative wealth movements driven by macroeconomic fluctuations in the exchange rate and stock market prices. This provides strong empirical evidence that differences across firms in the degree of their access to credit can be an important determinant of foreign direct investment
The Chinese economic area : economic integration without a free trade agreement by Randall Jones ( Book )
5 editions published in 1992 in English and held by 136 WorldCat member libraries worldwide
This paper describes the de facto economic integration taking place between China, Hong Kong and Taiwan -- the "Chinese Economic Area"--And analyses basic factors underlying the process. Even in the face of weak economic performance in OECD countries the integration has helped underpin rapid growth in all three economies, particularly in China's south-eastern provinces. If Chinese policies are further liberalised within a reasonably stable macro-environment, the Chinese Economic Area could become a major player in world markets within one generation and require massive adjustment in the rest of the world
Job creation, job destruction, and the real exchange rate by Michael W Klein ( Book )
13 editions published between 1999 and 2000 in English and held by 128 WorldCat member libraries worldwide
This paper contributes to an understanding of internationally generated adjustment costs by demonstrating a statistically significant and economically relevant effect of the real exchange rate on job creation and job destruction in U.S. manufacturing industries over the period 1973 to 1993. The responsiveness of these gross job flows to the real exchange rate reflects pervasive heterogeneity with respect to international conditions across firms, even within narrowly defined industries. We document this heterogeneity and show that the responsiveness of job flows to movements in the real exchange rate varies with the industry's openness to international trade. We also show an asymmetry in the responsiveness of job flows to the real exchange rate; appreciations play a significant role in job destruction, but job flows do not respond significantly to dollar depreciations
Capital account liberalization, financial depth, and economic growth by Michael W Klein ( Book )
9 editions published in 1999 in English and held by 124 WorldCat member libraries worldwide
We show a statistically significant and economically relevant effect of open capital accounts on financial deepness and economic growth in a cross-section of countries over the period 1986 to 1995. Countries with open capital accounts over some or all of this period had a significantly greater increase in financial depth than countries with continuing capital account restrictions, and they also enjoyed greater economic growth. There results, however, are largely driven by the developed countries in the sample. The observed failure of capital account liberalization to promote financial deepness among developing countries suggests potentially important policy implications concerning the desirability of liberalizing the capital account
The real exchange rate and foreign direct investment in the United States : relative wealth vs. relative wage effects by Michael W Klein ( Book )
9 editions published in 1992 in English and held by 113 WorldCat member libraries worldwide
There has been a significant correlation between United States inward foreign direct investment and the United States real exchange rate since the 1970s. Two alternative reasons for this relationship are that the real exchange rate affects the relative cost of labor and that the real exchange rate alters relative wealth across countries. In this paper we explore these alternatives by examining the determinants of four measures of inward foreign direct investment to the United States from seven industrial countries over the period 1979 to 1991. We find strong evidence that relative wealth significantly affects U.S. inward foreign direct investment. We find no evidence that relative wages have a significant impact on the determination of U.S. foreign direct investment. These results are robust to the choice of countries in our sample and when controlling for changes in tax codes
The real exchange rate and fiscal policy during the gold standard period : evidence from the United States and Great Britain by Graciela Laura Kaminsky ( Book )
11 editions published in 1994 in English and held by 100 WorldCat member libraries worldwide
We study the determinants of the dollar/pound real exchange rate from 1879 to 1914 focusing on the role of fiscal policy. We present a simple dynamic model of the real exchange rate to frame our analysis. The econometric results are based upon the decomposition of the sources of the innovation of the real exchange rate drawn from a structural vector autoregression model. We find little evidence that changes in tariffs and government spending affected the real exchange rate. There is some stronger empirical evidence that shocks to deficits were associated with the fluctuations in the real exchange rate
Risky habits : on risk sharing, habit formation, and the interpretation of international consumption correlations by Jeffrey C Fuhrer ( Book )
10 editions published in 1998 in English and held by 95 WorldCat member libraries worldwide
Standard international economic models with life cycle/permanent income consumption behavior predict that international portfolio diversification leads to high bilateral consumption correlations. Thus international consumption correlations have been empirically estimated as a test of international portfolio diversification and risk sharing. In this paper we investigate the international consumption correlations generated by a more general model which incorporates habit formation in consumption. We show that, in the presence of common interest rate movements, habit formation itself can generate positive international consumption correlations even in the absence of any international risk sharing. Empirical evidence presented in this paper suggests habit formation characterizes consumption behavior among most of the G-7 countries. Thus, the extent of international portfolio diversification may be even lower than that suggested by previous research which studied international consumption correlations
International trade and factor mobility : an empirical investigation by Linda S Goldberg ( Book )
13 editions published between 1999 and 2001 in English and held by 86 WorldCat member libraries worldwide
Foreign Direct Investment (FDI) has been growing rapidly, at a pace far exceeding the growth in international trade. Thus, a full understanding of the relationship between trade in goods and FDI is important for obtaining a complete picture of the extent and sources of international linkages. We investigate whether FDI serves as a complement to trade or a substitute for trade based on the effects identified by the Rybczynski theorem whereby an increase in a factor of production used intensively in one sector affects production both in that sector and in other sectors. Using detailed data on bilateral capital and trade flows between the United States and individual Latin American countries, we examine the linkages between FDI into particular sectors of Latin American economies and the net exports of those and other manufacturing sectors. We find that FDI from the United States can lead to significant, and varied, shifts in the composition of activity in many Latin American countries and across many manufacturing industries
Foreign direct investment, trade and real exchange rate linkages in Southeast Asia and Latin America by Linda S Goldberg ( Book )
8 editions published in 1997 in English and held by 85 WorldCat member libraries worldwide
We investigate the relationships among trade, foreign direct investment and the real exchange rate between a set of Southeast Asian and Latin American countries and both the United States and Japan. Foreign direct investment by both Japan and the United States to the Southeast Asian countries in our sample is significantly affected by bilateral real exchange rates. Also, trade between the countries in our sample and the United States and Japan is significantly affected by foreign direct investment. These sets of relationships, between the real exchange rate and foreign direct investment, and between foreign direct investment and trade, support two channels through which the real exchange rate affects trade: a direct effect on the relative price of goods and an indirect effect through foreign direct investment
A provincial view of capital mobility by Tamim A Bayoumi ( Book )
9 editions published in 1995 in English and held by 83 WorldCat member libraries worldwide
This paper develops a method of testing for zones of financial integration based upon intertemporal considerations and applies it to data on Canadian provincial trade. In a financially-integrated region individuals smooth consumption with respect to movements in aggregate income. Consumption in that region follows income in that region if individuals use only regional capital markets while consumption follows movements in income in broader regions (e.g. national income or world income) if individuals have access to and use capital markets in those broader regions (e.g. the national or global capital markets, respectively). We derive a specification which measures the impact of differential levels of access to capital markets--different zones of capital mobility--on the relationship between the regional trade balance and regional, national and global income. This empirical specification is tested using data on trade balances across Canadian provinces. The results indicate full capital mobility within Canada but only partial capital mobility between Canada and the rest of the world
Explaining the duration of exchange-rate pegs by Michael W Klein ( Book )
11 editions published between 1993 and 1994 in English and held by 83 WorldCat member libraries worldwide
This paper is a theoretical and empirical investigation into the duration of exchange-rate pegs. The theoretical model considers a policy-maker who must trade off the economic costs of real exchange- rate misalignment against the political cost of realignment. The optimal time to spend on a peg is derived and factors that influence peg duration are identified. The predictions of the model are tested using logit analysis with a data set of exchange-rate pegs for sixteen Latin American countries and Jamaica during the 1957-1991 period. We find that the real exchange rate is a significant determinant of the likelihood of a devaluation. Structural variables, such as the openness of the economy and its geographical trade concentration, also significantly affect the likelihood of a devaluation. Finally, political events that change the political cost of realignment, such as regular and irregular executive transfers, are empirically important determinants of the likelihood of a devaluation
Work and play : international evidence of gender equality in employment and sports by Michael W Klein ( Book )
8 editions published in 2002 in English and held by 80 WorldCat member libraries worldwide
This paper addresses the question of whether societies that afford economic opportunity to women offer other opportunities as well. The analysis in this paper shows that the performance of a country's women in international athletic competition reflects the degree of their relative participation in that country's labor market. There is a significant positive relationship across countries between a high ratio of the labor force participation rate of women to the labor force participation rate of men and the number and type of medals won by a country's women in the 2000 Sydney Summer Olympics. Teams representing countries with high relative labor force participation rates also were both more likely to qualify for the 1999 Women's Soccer World Cup and to do well in that competition. This effect of relative labor force participation rates on athletic success is found while controlling for a nation's income per capita, population, men's performance in related sporting events, rate of participation of women in government, and fertility rate. These results suggest that the participation of women in a country's labor force is an important reflection of their opportunities in other areas as well
Dollarization and trade by Michael W Klein ( Book )
10 editions published in 2002 in English and held by 77 WorldCat member libraries worldwide
Dollarization has been suggested as a policy that might, among other goals, promote trade between a country adopting the dollar and the United States. Evidence supporting this conjecture could be drawn from a recent series of papers by Rose and co-authors who show that a currency union increases bilateral trade among its members, and that this effect is both large and statistically significant. In this paper we show that this result is not robust if we consider bilateral United States trade (even though the United States accounts for 60 percent of all observations of currency unions between industrial and non-industrial countries), nor if we consider bilateral trade of countries that have adopted the United States dollar, like Panama. Furthermore, the effect of dollarization on trade with the United States is not statistically distinct from the effect of a fixed dollar exchange rate on trade with the United States
Capital account openness and the varieties of growth experience by Michael W Klein ( Book )
7 editions published in 2003 in English and held by 72 WorldCat member libraries worldwide
The effects of capital account openness on economic growth may vary across countries. Some countries may not have in place the constellation of institutions required to fully benefit from open capital accounts. Other countries may realize only small marginal improvements in the wake of capital account liberalization. This paper presents evidence of an inverted-U shaped relationship between the responsiveness of growth to capital account openness and income per capita. Middle-income countries benefit significantly from capital account openness. However, neither rich nor poor countries exhibit statistically significant positive effects. A similar inverted-U shaped relationship is found between the responsiveness of growth to capital account openness and various indicators of government quality
Fixed exchange rates and trade by Michael W Klein ( Book )
6 editions published in 2004 in English and held by 69 WorldCat member libraries worldwide
"A classic argument for a fixed exchange rate is its promotion of trade. Empirical support for this, however, is mixed. While one branch of research consistently shows a small negative effect of exchange rate volatility on trade, another, more recent, branch presents evidence of a large positive impact of currency unions on trade. This paper helps resolve this disconnect. Our results, which use a new data-based classification of fixed exchange rate regimes, show a large, significant effect of a fixed exchange rate on bilateral trade between a base country and a country that pegs to it. Furthermore, the web of fixed exchange rates created when countries link to a common base also promotes trade, but only when these countries are part of a wider system, as during the Bretton Woods period. These results suggest an economically relevant role for exchange rate regimes in trade determination since a significant amount of world trade is conducted between countries with fixed exchange rates"--National Bureau of Economic Research web site
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Alternative Names
Klein, M.
Klein, M. W.
Klein, M. W. 1958-
Klein, Michael
Klein, Michael, 1958-
Klein, Michael W.
Klein, Michael Walter, 1958-
English (208)
German (1)