Download or read book Essays in International Macroeconomics and Monetary Policy written by Qianying Chen and published by . This book was released on 2010 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in International Macroeconomics written by Xuan Liu and published by . This book was released on 2007 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This dissertation consists of two essays in international macroeconomics. The first essay shows that optimal fiscal and monetary policy is time consistent in a standard small open economy. Further, there exist many maturity structures of public debt capable of rendering the optimal policy time consistent. This result is in sharp contrast with that obtained in the context of closed-economy models. In the closed economy, the time consistency of optimal monetary and fiscal policy imposes severe restrictions on public debt in the form of a unique term structure of public debt that governments can leave to their successors at each point in time. The time consistent result is robust: optimal policy is time consistent when both real and nominal bonds have finite horizons. While in a closed economy, governments must have both nominal and real bonds, and have at least real bonds over an infinite horizon to render optimal policy time consistent.

Download or read book Essays in Monetary and International Economics written by Tokhir Mirzoev and published by . This book was released on 2005 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: This dissertation is comprised of three essays in monetary and international macroeconomics. The first essay, titled "A Dynamic Model of Exogenous Exchange Rate Pass-Through", examines a two-country open economy model with sticky prices where exporters' choice of invoicing currency is endogenous. Besides generating incomplete pass-through, the model yields three main results. First, firms' invoicing strategy is generally time-varying. Second, average pass-through is asymmetric in times of persistent depreciation and appreciation. Finally, cross-country differences in money supply variability produce an origin-based asymmetry: different average pass-through rates into import and export prices. The second essay, titled "Limited Commitment, Inaction and Optimal Monetary Policy", examines the optimal frequency of monetary policy meetings when their schedule is pre-announced. The contribution of this paper is twofold. First, we show that in the standard New Keynesian framework infrequent but periodic revision of monetary policy may be desirable even when there are no explicit costs of policy adjustment. Second, we solve for the optimal frequency of policy adjustment and characterize its determinants. When applied to the U.S. economy, our analysis suggests that the Federal Open Market Committee should revise the federal funds target rate no more than twice a year. Finally, the third essay, titled "Does the Federal Reserve Do What It Says It Expects to Do?", studies the behavior of the Federal Open Market Committee in setting the federal funds target rate and making a bias announcement. The current bias concerning the next interest rate decision should be the optimal forecast based on the committee's interest rate policy rule. Therefore, the interest rate implied by the estimated policy should be consistent not only with the observed rate, but also with the observed bias announcement. We jointly estimate interest rate and bias announcement decision rules and find strong consistency between the two decisions in their response to inflation. However, the response to measures of economic activity is found inconsistent.

Download or read book The Preparation of Monetary Policy written by J.M. Berk and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 157 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standard macroeconomic monographs often discuss the mechanism of monetary transmission, usually ending by highlighting the complexities and uncertainties involved in this mechanism. Conversely, The Preparation of Monetary Policy takes these uncertainties as a starting point, analytically investigating their nature and spelling out their consequences for the monetary policy maker. The second innovative aspect of this book is its focus on policy preparation instead of well-covered topics such as monetary policy strategy, tactics, and implementation. Thirdly, a general, multi-model framework for preparing monetary policy is proposed, which is illustrated by case studies stressing the role of international economic linkages and of expectations. Written in a self-contained fashion, these case studies are of interest by themselves. The book is written for an audience that is interested in the art and science of monetary policy making, which includes central bankers, academics, and (graduate) students in the field of monetary economics, macroeconomics, international economics and finance.

Download or read book Three Essays in International Macroeconomics and Finance written by Enrique Martinez-Garcia and published by . This book was released on 2007 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Studies in International Economics and Finance written by Naoyuki Yoshino and published by Springer Nature. This book was released on 2022-03-30 with total page 671 pages. Available in PDF, EPUB and Kindle. Book excerpt: This festschrift volume presents discussions on contemporary issues in international economics and finance. It is aimed to serve as a reference material for researchers. There are two broad sections of the book -- International Macroeconomics and International Finance. The chapters in the International Macroeconomics section discuss critical topics like aggregate level macro model for India with a new Keynesian perspective, balance of payments, service sector exports, foreign exchange constraints for import demands, foreign direct investment and knowledge spill over, the relationship between forex rate fluctuation and investment, Institutional quality-trade openness-economic growth nexus, currency crises and debt-deficit relationship in the BRICS countries in the backdrop of COVID-19. Apart from these, various analytical issues related to macroeconomic policies are also covered in this section. The topics discussed includes the nature of forex market interventions, the issue of disinvestment and privatization, changing nature of fiscal policy, the inflation-growth nexus, macroeconomic simulation modelling, measuring core inflation, central bank credibility, monetary policy, inflation targeting, Infrastructure, trade, unemployment and inequality nexus. In the International Finance section, topics such as COVID-19 induced financial crisis, commodity futures volatility, stock market connectivity, volatility persistence, determinants of sovereign bond yields, FII and stock market volatility, cryptocurrency price formation, financialization of Indian commodity market, and a Keynesian view of the financial crisis are discussed. Overall, thirty two chapters in the volume discuss cutting edge research in the areas of the two sections. A tour de force... a lucid guide to some of the diverse and complex issues in International Macroeconomics and Finance. This collection of scholarly works is a fitting tribute to respected Prof. Bandi Kamaiah and his enviable academic contributions. - Prof. Y V Reddy, Former Governor, Reserve Bank of India This volume comprising thoughtful essays by our leading scholars on some of important policy issues that India is facing is indeed a rich tribute to Professor Bandi Kamaiah . This book will greatly benefit the academic community as well as our policy makers. - Prof. Vijay Kelkar, Chairman, 13th Finance Commission of India; Chairman, India Development Foundation, Mumbai, India Noted economists from India and abroad gather to apply the rigorous searchlight that Professor Bandi Kamaiah used so effectively in his career. Major current topics in macroeconomics and international finance are effectively explored in the volume. - Prof. Ashima Goyal, Emeritus Professor, Indira Gandhi Institute of Development Research, Mumbai, India; and Member, Monetary Policy Committee of Reserve Bank of India This volume of 32 papers in macroeconomics, international economics, and international finance is intended as a tribute to the eminent econometrician , Prof B Kamaiah. Post-graduate students and researchers will find much valuable literature in the volume, which is a fitting tribute to Prof Kamaiah. The editors and authors deserve rich compliments. - Prof. K L Krishna, Former Director, Delhi School of Economics, New Delhi, India I am so happy to hear that Dr. Kamaiah's colleagues and ex-students are bringing out a special volume of articles in his honor. Nothing can be more appropriate. Dr. Kamaiah, being a man of tremendous publications, deserves this tribute. I wish all the luck and success to the new book. - Prof. Kishore Kulkarni, Distinguished Professor of Economics, Metropolitan State University of Denver, USA

Download or read book Essays in International Macroeconomics written by Almuth Scholl and published by . This book was released on 2006 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in International Macroeconomics and Monetary Economics written by Peter Nicholas Kriz and published by . This book was released on 2003 with total page 474 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Three Essays in International Macroeconomics written by Ivan Pentchev Tchakarov and published by . This book was released on 2003 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays on Applied International Macroeconomics Monetary Policy and Global Finance written by Galina Potjagailo and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Essays in International Macroeconomics written by Hyunju Kang and published by . This book was released on 2012 with total page 65 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Exchange rate regimes and invoicing currency play a crucial role in international macroeconomics due to their importance in the international transmission of monetary policy and the behavior of real exchange rates. In my dissertation, the first essay studies the process of exchange rate regime shifts during sudden stops in a small open economy, using the policy papers by the Bank of Korea to suggest the actual decision-making process within a central bank. The second essay examines the role of invoicing currency in a two-country model with state-dependent pricing(SDP).

Download or read book International Monetary Problems and Supply Side Economics written by G. Harcourt and published by Springer. This book was released on 1986-09-29 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Managing Global Money written by Graham Bird and published by Springer. This book was released on 1988-05-24 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection of articles and papers has been organised under a limited number of specific themes in international financial economics, including balance of payment theory and policy, the activities of the IMF, Special Drawing Rights, the role of the private financial markets, and the international economic order. A unifying theme running through all the essays is that some degree of management of international financial affairs is desirable. The book has a strong policy orientation and should be of interest to students and practitioners of international financial economics alike.

Download or read book Essays on International Macroeconomics and Fiscal Policy written by Loukas Karabarbounis and published by . This book was released on 2010 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: In all cases, men commit to a career in the market and take less home duties than women. As a result, their market work becomes less substitutable to home duty. When society resolves its distributional concerns efficiently with gender-specific lump sum transfers, GBT with higher marginal tax rates on men is optimal. The third essay examines the relationship between inequality and redistribution in a panel of OECD countries. Using panel data methods that hold constant a variety of determinants of redistributive spending, I find a non-monotonic relationship between pre-tax-and-transfer distribution of income and redistribution. Relative to mean income, a more affluent rich and middle class are associated with less redistribution and a richer poor class is associated with more redistribution. These results are consistent with a one dollar, one vote politico-economic equilibrium: When the income of a group of citizens increases, aggregate redistributive policies tilt towards this group's most preferred policies.

Download or read book Essays in International Money and Finance written by James R Lothian and published by World Scientific. This book was released on 2017-06-29 with total page 820 pages. Available in PDF, EPUB and Kindle. Book excerpt: The aim of the book is to make the author's scholarly research in the areas of international finance and monetary economics easily accessible to other researchers and students. The articles included in the book span a wide range. The topics include the behavior of the three key relations in international finance, purchasing power parity, interest rate parity and real interest rate equality, the relation between money and other key economic variables, financial globalization and the transmission of economic disturbances internationally.

Download or read book Essays on Monetary and International Macroeconomics written by Adam Traczyk and published by . This book was released on 2011 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Evolution of the International and Regional Monetary Systems written by Alfred Steinherr and published by Springer. This book was released on 1991-12-12 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers in this book cover the wide range of Robert Triffin's expertise. For example, Jacques Larosire interprets the evolution of the international monetary system. Michel Aglietta critically appraises the international monetary system and suggests the present system is one that does not constrain domestic policy choices. The desirability, scope and means of policy co-ordination are analyzed in the contributions by James Tobin, Robert Solomon, John Williamson, Alexandre Lamfalussy and Wolfgang Rieke. Tommaso Padoa-Schioppa discusses the possible paths to European Monetary Union whilst Alfred Steinherr and Jacques Girard evaluate the past and future evolution of the ECU. Paul De Grauwe provides empirical answers to the highly debated question whether the EMS is a DM-zone.