Download or read book Aggregate Investment Expenditures on Tradable and Nontradable Goods written by Rudolfs Bems and published by International Monetary Fund. This book was released on 2008-02 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows that aggregate investment expenditure shares on tradable and nontradable goods are very similar across countries and regions. Furthermore, the two expenditure shares have remained close to constant over time, with the average expenditure share on nontradables varying between 0.54-0.62 over the 1960-2004 period. These empirical findings offer a new restriction for two-sector models of the aggregate economy. Combined with the fact that the relative price of nontradables correlates positively with income and exhibits large differences across space and time, our findings suggest that tradable and nontradable goods in investment can be modeled using the Cobb-Douglas aggregator.
Download or read book Open Economy Macroeconomics written by Martín Uribe and published by Princeton University Press. This book was released on 2017-04-04 with total page 646 pages. Available in PDF, EPUB and Kindle. Book excerpt: A cutting-edge graduate-level textbook on the macroeconomics of international trade Combining theoretical models and data in ways unimaginable just a few years ago, open economy macroeconomics has experienced enormous growth over the past several decades. This rigorous and self-contained textbook brings graduate students, scholars, and policymakers to the research frontier and provides the tools and context necessary for new research and policy proposals. Martín Uribe and Stephanie Schmitt-Grohé factor in the discipline's latest developments, including major theoretical advances in incorporating financial and nominal frictions into microfounded dynamic models of the open economy, the availability of macro- and microdata for emerging and developed countries, and a revolution in the tools available to simulate and estimate dynamic stochastic models. The authors begin with a canonical general equilibrium model of an open economy and then build levels of complexity through the coverage of important topics such as international business-cycle analysis, financial frictions as drivers and transmitters of business cycles and global crises, sovereign default, pecuniary externalities, involuntary unemployment, optimal macroprudential policy, and the role of nominal rigidities in shaping optimal exchange-rate policy. Based on courses taught at several universities, Open Economy Macroeconomics is an essential resource for students, researchers, and practitioners. Detailed exploration of international business-cycle analysis Coverage of financial frictions as drivers and transmitters of business cycles and global crises Extensive investigation of nominal rigidities and their role in shaping optimal exchange-rate policy Other topics include fixed exchange-rate regimes, involuntary unemployment, optimal macroprudential policy, and sovereign default and debt sustainability Chapters include exercises and replication codes
Download or read book The Composition and Cyclical Behavior of Trade Flows in Emerging Economies written by Mr.Reinout De Bock and published by International Monetary Fund. This book was released on 2010-02-01 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Trade flows data show that the composition and cyclical properties of imports are similar in developed economies and emerging markets (EM) but this is not the case for exports. Unlike developed economies, (i) EM export few or only a selective set of capital goods and (ii) capital good and overall exports tend to be acyclical. The lack of procyclicality in exports drives the strong countercyclicality of EM trade balances observed in previous studies. A quantitative exercise demonstrates how the standard small open economy business cycle model can be improved for EM by incorporating these features.
Download or read book Real Exchange Rates Economic Complexity and Investment written by Steve Brito and published by International Monetary Fund. This book was released on 2018-05-10 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: We show that the response of firm-level investment to real exchange rate movements varies depending on the production structure of the economy. Firms in advanced economies and in emerging Asia increase investment when the domestic currency weakens, in line with the traditional Mundell-Fleming model. However, in other emerging market and developing economies, as well as some advanced economies with a low degree of structural economic complexity, corporate investment increases when the domestic currency strengthens. This result is consistent with Diaz Alejandro (1963)—in economies where capital goods are mostly imported, a stronger real exchange rate reduces investment costs for domestic firms.
Download or read book Economic Growth in Small Open Economies written by István Kónya and published by Springer. This book was released on 2018-01-24 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book studies the economic growth and development of four Visegrad economies (Czech Republic, Hungary, Poland and Slovakia) between 1995-2014. The author uses a neoclassical growth model with distortions (wedges) to identify the main sources of economic growth for each of these countries including employment, human capital, capital accumulation and TFP growth. The first part of the book is structured around the concept of production function, factor inputs and growth accounting, and the second part of the book looks at selected problems related to economic developments of the analysed countries. This book combines empirical facts, data analysis and macroeconomic modelling and will appeal to those interested in convergence and growth in general, and analysts and researchers studying the Visegrad countries in particular.
Download or read book Productivity Dynamics in Emerging and Industrialized Countries written by Deb Kusum Das and published by Taylor & Francis. This book was released on 2018-04-17 with total page 660 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world, of late, has seen a productivity slowdown. Many countries continue to recover from various shocks in the macro business environment, along with structural changes and inward looking policies. In contemporary times of growth slumps, various exits and protectionist regimes, this book engages with the study of productivity dynamics in the emerging and industrialized economies. The essays address the crucial aspects, such as the roles of human capital, investment accounting and datasets, that help understanding of productivity performance of global economy and its several regions. This book will be of interest to academics, practitioners and professionals in the field of economic growth, productivity and development studies. This will also be an important reference on empirical industrial economics in both India and the world.
Download or read book Achieving Dynamism in an Anaemic Europe written by Luigi Paganetto and published by Springer. This book was released on 2015-04-09 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the reasons behind Europe’s poor performance in terms of overall growth and its progressively diminishing role in the global context. Recognizing that the big challenge is to restore confidence and hope in Europe, potential solutions are discussed. The volume comprises a selection of contributions to the XXVI Villa Mondragone International Economic Seminar (Rome, 2014), the most recent of a series of seminars that have provided outstanding scholars with an opportunity to discuss key topics in economic research. In recent years the persistence of high unemployment and low growth has increased the Euroscepticism that has targeted the euro and the Brussels bureaucracy. Readers will find this book a fascinating source of information on current thinking regarding topics such as European industrial policy, European governance, unemployment, the euro and competitiveness, trade and financial integration, the Transatlantic Trade and Investment Partnership, anticorruption policies, and energy and climate policies. In particular, it examines the structural reforms and commitment to development that will be required for Europe to become a region characterized by social justice, dynamism, and opportunities for all.
Download or read book Consumer Price Index Manual written by International Labour Office and published by International Labour Organization. This book was released on 2004-08-25 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt: The consumer price index (CPI) measures the rate at which prices of consumer goods and services change over time. It is used as a key indicator of economic performance, as well as in the setting of monetary and socio-economic policy such as indexation of wages and social security benefits, purchasing power parities and inflation measures. This manual contains methodological guidelines for statistical offices and other agencies responsible for constructing and calculating CPIs, and also examines underlying economic and statistical concepts involved. Topics covered include: expenditure weights, sampling, price collection, quality adjustment, sampling, price indices calculations, errors and bias, organisation and management, dissemination, index number theory, durables and user costs.
Download or read book International Financial Issues in the Pacific Rim written by Takatoshi Ito and published by University of Chicago Press. This book was released on 2008-09-15 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: The imbalanced, yet mutually beneficial, trading relationship between the United States and Asia has long been one of international finance’s most perplexing mysteries. Although the United States continues to post a substantial trade deficit—and China reaps the benefits of a surplus—the dollar has yet to sink in the face of ever-increasing account disparities. International Financial Issues in the Pacific Rim explains why the United States enjoys a seemingly symbiotic relationship with its trading partners despite stark inequities in the trade balance, especially with Asia. This timely and well-informed study also debunks the assumed link between economic openness and low inflation in the region, identifies the serious gap between academic and private-sector researchers’ understanding of exchange rate volatility, and analyzes the liberalization of Asian capital accounts. International Financial Issues in the Pacific Rim will have broad implications for global trade and economic policy issues in Asia and beyond.
Download or read book Essays on Turkey s Bid for Global Integration written by Gül Ertan Özgüzer and published by Presses univ. de Louvain. This book was released on 2010-06 with total page 105 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays making up this thesis combine two important milestones in Turkey's bid for global integration: Turkey’s prospective accession to the European Union (EU) and capital account liberalization. The first essay deals with possible economic consequences of Turkish accession to the EU, focusing on transfers as the cause of EU’s objection to admit Turkey and investigating whether the transfer may be a price worth paying for the European households. The idea presented here is that adherence to the Copenhagen criteria leads to an improvement in Turkish institutions, which in turn increases Turkish total factor productivity (TFP) in the model. We find that a TFP increase in Turkey enhances the utility of the households in the EU and therefore may compensate for the negative effect of the transfers. The second essay deals with the same issue in a dynamic general equilibrium setting. This time, we assess quantitatively whether, from the European perspective, enlargement of the EU to include Turkey is welfare enhancing. Finally, the third essay concerns the capital account liberalization experience of Turkey in order to account for the changes in the Turkish economy after the country’s opening to capital flows and analyses whether Turkish households are better off because of this opening up.
Download or read book Demand Spillovers and the Collapse of Trade in the Global Recession written by Kei-Mu Yi and published by International Monetary Fund. This book was released on 2010-06-01 with total page 47 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper uses a global input-output framework to quantify US and EU demand spillovers and the elasticity of world trade to GDP during the global recession of 2008-2009. We find that 20-30 percent of the decline in the US and EU demand was borne by foreign countries, with NAFTA, Emerging Europe, and Asia hit hardest. Allowing demand to change in all countries simultaneously, our framework delivers an elasticity of world trade to GDP of nearly 3. Thus, demand alone can account for 70 percent of the trade collapse. Large changes in demand for durables play an important role in driving these results.
Download or read book Balance of Payments Textbook written by International Monetary Fund and published by International Monetary Fund. This book was released on 1996-04-15 with total page 159 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Balance of Payments Textbook, like the Balance of Payments Compilation Guide, is a companion document to the fifth edition of the Balance of Payments Manual. The Textbook provides illustrative examples and applications of concepts, definitions, classifications, and conventions contained in the Manual and affords compilers with opportunities for enhancing their understanding of the relevant parts of the Manual. The Textbook is one of the main reference materials for training courses in balance of payments methodology.
Download or read book Household Leverage and the Recession written by Callum Jones and published by International Monetary Fund. This book was released on 2018-08-30 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: We evaluate and partially challenge the ‘household leverage’ view of the Great Recession. In the data, employment and consumption declined more in states where household debt declined more. We study a model where liquidity constraints amplify the response of consumption and employment to changes in debt. We estimate the model with Bayesian methods combining state and aggregate data. Changes in household credit limits explain 40 percent of the differential rise and fall of employment across states, but a small fraction of the aggregate employment decline in 2008-2010. Nevertheless, since household deleveraging was gradual, credit shocks greatly slowed the recovery.
Download or read book Preventing Currency Crises in Emerging Markets written by Sebastian Edwards and published by University of Chicago Press. This book was released on 2002-11-15 with total page 782 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economists and policymakers are still trying to understand the lessons recent financial crises in Asia and other emerging market countries hold for the future of the global financial system. In this timely and important volume, distinguished academics, officials in multilateral organizations, and public and private sector economists explore the causes of and effective policy responses to international currency crises. Topics covered include exchange rate regimes, contagion (transmission of currency crises across countries), the current account of the balance of payments, the role of private sector investors and of speculators, the reaction of the official sector (including the multilaterals), capital controls, bank supervision and weaknesses, and the roles of cronyism, corruption, and large players (including hedge funds). Ably balancing detailed case studies, cross-country comparisons, and theoretical concerns, this book will make a major contribution to ongoing efforts to understand and prevent international currency crises.
Download or read book The Great Trade Collapse Causes Consequences and Prospects written by Richard E. Baldwin and published by CEPR. This book was released on 2009 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Economic Analysis of Investment Operations written by Pedro Belli and published by World Bank Publications. This book was released on 2001-01-01 with total page 294 pages. Available in PDF, EPUB and Kindle. Book excerpt: This books presents general principles and methodologies of quantitative risk analysis; provides theory and practice of how to evaluate health, transport and education projects and describes how to assess the environmental impact of projects. It looks at how the tools of cost benefit analysis can be applied from the point of view of the private sector, public sector, bankers, and the country as a whole. It encourages analysts to answer a number of key questions that are likely to increase success rather than simply describing techniques. This book as aimed at all concerned with resource allocation and is presented in an accessible fashion. It is required reading at World bank Institute courses.
Download or read book Foreign Capital Flows and Economic Development in Africa written by Evelyn Wamboye and published by Springer. This book was released on 2017-03-16 with total page 516 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection examines the extent to which foreign capital from conventional (OECD countries) and non-conventional (BRICS) sources has impacted economic development in Africa over the last two decades. It provides in-depth analyses of the nature, motives, and implications of this capital, and identifies drivers of contemporary rapid growth within and across African countries. Authored by leading experts, the book offers original insights for academics, policymakers, and practitioners studying the changes taking place in Africa as the continent strides more confidently toward integration with the global economy. The major themes addressed in this book include:• The implications of growing Chinese engagement in Africa • BRICS countries' versus OECD countries' investment contributions to Africa• The politics of land, land grab, and the puzzle of inclusive development in Africa• Foreign research and development spillovers, trade linkages, and productivity in Africa• Foreign aid effects on social sector, growth, and structural change in Africa• Remittances, foreign debt, resource management, and economic development in Africa
