Download or read book Open and Closed Economies written by Roderick Macdonald and published by Springer Nature. This book was released on 2021-11-23 with total page 161 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book compares the experiences of the Philippines and Vietnam to gain insight into how openness to trade and financing can increase prosperity. In contrast, theoretical and empirical work in the 20th and early 21st centuries have returned mixed results regarding this assertion. The book also demonstrates the impracticality of any attempt to pursue prosperity in isolation. Chapter 1 discusses recent data and research on international trade and capital mobility. Chapter 2 describes the economy of Vietnam that has grown rapidly since beginning to open in 1994. Chapter 3 relates the stagnation of the Philippines as it remained closed from 1960 to 1994 and examines the recent rapid growth in spite of the continued relative restrictiveness of Philippine policy. Chapter 4 compares the two experiences and then conjectures about the feasibility of a prosperous autarky.
Download or read book Open Economy Macroeconomics written by Helmut Frisch and published by Springer. This book was released on 2016-07-27 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: The integration of market economies is one of the most remarkable features of international economics, which has important implications for macroeconomic performance in open economies. Equally important is the declining relevance of the real versus the monetary theory dichotomy. These papers focus on those aspects of monetary policy which relate to credibility and non-neutrality; the domestic adjustment to foreign shocks; the interdependence of open economies and their strategic interactions. An important section is also devoted to the innovative modelling of exchange rate dynamics.
Download or read book Open Markets Matter written by Organisation for Economic Co-operation and Development and published by OECD Publishing. This book was released on 1998 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: The benefits of open markets are tangible. In the last decade, countries that have been more open to trade and investment have achieved double the average annual growth of more closed economies. More individuals, firms and nations than ever before depend on the gains from trade and investment liberalisation. Yet anxiety about the effects of greater market integration remains. It is essential for long-term world prosperity that countries' commitment to trade and investment liberalisation be sustained. To be credible, that commitment must be rooted in and enjoy broad public support and understanding. This makes it all the more important to communicate what trade and investment liberalisation can and cannot do and be held responsible for. Trade and investment liberalisation is not painless. It should not be viewed as a cure-all nor presented as an end in itself. It is, however, an essential component of any coherent set of policies aimed at helping societies adjust to - and take advantage of - technology-driven transformations whose pace and depth are unprecedented. The stakes are high. This book examines the various channels through which open markets deliver considerable benefits to societies and their citizens; recalls the real pocket-book costs of protectionism; and addresses the full range of concerns that feature prominently in ongoing discussions over the effects of market liberalisation on employment, income distribution, environmental protection and national sovereignty. A central message of this book is that liberalisation forms part of the solution to the concerns of citizens, rather than being their root cause. The book's comprehensive treatment of the ins and outs of trade and investment liberalisation should make an important contribution to the public debate. It is essential reading for public officials, business leaders and private citizens who wish to take an active part in it.
Download or read book The Fiscal Multiplier in Small Open Economy written by Jasmin Sin and published by International Monetary Fund. This book was released on 2016-09-07 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the fiscal multiplier using a small-open-economy DSGE model enriched with financial frictions. It shows that the multiplier is large when frictions are present in domestic and international financial markets. The reason is that in the model government bonds are more liquid than private financial assets and that entrepreneurs face liquidity constraints. A bond-financed fiscal expansion eases these constraints and stimulates investment and hence growth. This mechanism, however, breaks down under the assumption of perfect international capital mobility, suggesting that conventional models which ignore the presence of frictions in international capital markets tend to underestimate the fiscal multiplier.
Download or read book A Country is Not a Company written by Paul R. Krugman and published by Harvard Business Press. This book was released on 2009 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nobel-Prize-winning economist Paul Krugman argues that business leaders need to understand the differences between economic policy on the national and international scale and business strategy on the organizational scale. Economists deal with the closed system of a national economy, whereas executives live in the open-system world of business. Moreover, economists know that an economy must be run on the basis of general principles, but businesspeople are forever in search of the particular brilliant strategy. Krugman's article serves to elucidate the world of economics for businesspeople who are so close to it and yet are continually frustrated by what they see. Since 1922, Harvard Business Review has been a leading source of breakthrough management ideas-many of which still speak to and influence us today. The Harvard Business Review Classics series now offers readers the opportunity to make these seminal pieces a part of your permanent management library. Each highly readable volume contains a groundbreaking idea that continues to shape best practices and inspire countless managers around the world-and will have a direct impact on you today and for years to come.
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 Optimal Reserves in Financially Closed Economies written by Mr.Olivier Jeanne and published by International Monetary Fund. This book was released on 2016-04-12 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financially closed economies insure themselves against current-account shocks using international reserves. We characterize the optimal management of reserves using an open-economy model of precautionary savings and emphasize several results. First, the welfare-based opportunity cost of reserves differs from the measures often used by practitioners. Second, under plausible calibrations the model is consistent with the rule of thumb that reserves should be close to three months of imports. Third, simple linear rules can capture most of the welfare gains from optimal reserve management. Fourth, policymakers should place more emphasis on how to use reserves in response to shocks than on the reserve target itself.
Download or read book Macroeconomic Theory written by Fernando de Holanda Barbosa and published by Springer. This book was released on 2018-09-20 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomics is the application of economic theory to the study of the economy’s growth, cycle and price-level determination. Macroeconomics takes account of stylized facts observed in the real world and builds theoretical frameworks to explain such facts. Economic growth is a stylized fact of market economies, since England’s nineteenth-century industrial revolution. Until then, poverty was a common good for humanity. Economic growth consists in the persistent, smooth and sustained increase of per-capita income. A market economy shows periods of expanding and contracting economic activity. This phenomenon is the economic cycle. The price of money is the amount of goods bought with one unit of money, in other words, the inverse of the price level. Determination of the price level, or the value of money, is a fascinating subject in a fiat money economy.
Download or read book Essays in Macroeconomics of an Open Economy written by Franz Gehrels and published by Springer. This book was released on 1991 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Foraging Behavior written by A.C. Kamil and published by Springer. This book was released on 1987-05 with total page 700 pages. Available in PDF, EPUB and Kindle. Book excerpt: Foraging behavior has always been a central concern of ecology. Understanding what animals eat is clearly an essential component of under standing many ecological issues including energy flow, competition and adaptation. Theoretical and empirical developments in the late 1960's and 1970's led to a new emphasis in the study of foraging behavior, the study of individual animals in both field and laboratory. This development, in turn, led to an explosion of interest in foraging. Part of the reason for this explosion is that when foraging is studied at the individual level, it is relevant to many disciplines. Behaviorists, including ethologists and psychologists, are interested in any attempt to understand behavior. Ecologists know that a better understanding of foraging will contribute to resolving a number of important ecological issues. Anthropologists and others are applying the ideas coming out of the study of foraging behavior to problems within their disciplines. These developments led to a multidisciplinary symposium on foraging behavior, held as part of the 1978 Animal Behavior Society meetings in Seattle, Washington. Many ecologists, ethologists and psychologists participated or attended. The symposium was very successful. generating a high level of excitement. As a result, the participants decided to publish the proceedings of the symposium (Kami1 & Sargent 1981).
Download or read book Exports Inflation and Growth written by Thorvaldur Gylfason and published by International Monetary Fund. This book was released on 1997-09-01 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper identifies some of the main determinants of exports and economic growth in cross-sectional data from the World Bank, covering 160 countries in the period 1985-1994. First, the linkages between the propensity to export and population, per capita income, agriculture, primary exports, and inflation are studied by statistical methods. Then, the relationship between economic growth and some of the above-mentioned determinants of exports and investment are scrutinized the same way. The main conclusion is that, in the period under review, high inflation and an abundance of natural resources tended to be associated with low exports and slow growth.
Download or read book Principles of International Finance and Open Economy Macroeconomics written by Cristina Terra and published by Academic Press. This book was released on 2015-06-09 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Principles of International Finance and Open Economy Macroeconomics: Theories, Applications, and Policies presents a macroeconomic framework for understanding and analyzing the global economy from the perspectives of emerging economies and developing countries. Unlike most macroeconomic textbooks, which typically emphasize issues about developed countries while downplaying issues related to developing countries, this book emphasizes problems in emerging economies, including those in Latin American countries. It also explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis. Concentrates on developing country perspectives on International Finance and the Economy, including those in Latin American countries Provides case studies and publicly available data allowing readers to explore theories and their applications Explains recent developments in international finance that are essential to a thorough understanding of the effects and implications of the recent financial crisis Proposes a unified mathematical model accessible to those with basic mathematical skills
Download or read book News Shocks in Open Economies written by Mr. Rabah Arezki and published by International Monetary Fund. This book was released on 2015-09-29 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores the effect of news shocks on the current account and other macroeconomic variables using worldwide giant oil discoveries as a directly observable measure of news shocks about future output ? the delay between a discovery and production is on average 4 to 6 years. We first present a two-sector small open economy model in order to predict the responses of macroeconomic aggregates to news of an oil discovery. We then estimate the effects of giant oil discoveries on a large panel of countries. Our empirical estimates are consistent with the predictions of the model. After an oil discovery, the current account and saving rate decline for the first 5 years and then rise sharply during the ensuing years. Investment rises robustly soon after the news arrives, while GDP does not increase until after 5 years. Employment rates fall slightly for a sustained period of time.
Download or read book Handbook of the Economics of Population Aging written by John Piggott and published by Elsevier. This book was released on 2016-11-21 with total page 1146 pages. Available in PDF, EPUB and Kindle. Book excerpt: Handbook of the Economics of Population Aging synthesizes the economic literature on aging and the subjects associated with it, including social insurance and healthcare costs, both of which are of interest to policymakers and academics. These volumes, the first of a new subseries in the Handbooks in Economics, describe and analyze scholarship created since the inception of serious attention began in the late 1970s, including information from general economics journals, from various field journals in economics, especially, but not exclusively, those covering labor markets and human resource issues, from interdisciplinary social science and life science journals, and from papers by economists published in journals associated with gerontology, history, sociology, political science, and demography, amongst others. Dissolves the barriers between policymakers and scholars by presenting comprehensive portraits of social and theoretical issues Synthesizes valuable data on the topic from a variety of journals dating back to the late 1970s in a convenient, comprehensive resource Presents diverse perspectives on subjects that can be closely associated with national and regional concerns Offers comprehensive, critical reviews and expositions of the essential aspects of the economics of population aging
Download or read book Oregon Blue Book written by Oregon. Office of the Secretary of State and published by . This book was released on 1915 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Open Economy written by Rudiger Dornbusch and published by World Bank Publications. This book was released on 1988 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: This important book is a teaching manual, in nontechnical language, on policymaking in developing countries. Written at the request of the Economic Development Institute of the World Bank, the papers focus on policy instruments, their use and constraints, and provide case studies of economic policy in Argentina, Brazil, Indonesia, Korea, and Mexico to illustrate basic problems and possible solutions.
Download or read book Fiscal Policy and the Current Account written by International Monetary Fund and published by International Monetary Fund. This book was released on 2010-05-01 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the relationship between fiscal policy and the current account, drawing on a larger country sample than in previous studies and using panel regressions, vector autoregressions, and an analysis of large fiscal and external adjustments. On average, a strengthening in the fiscal balance by 1 percentage point of GDP is associated with a current account improvement of 0.2–0.3 percentage point of GDP. This association is as strong in emerging and low-income countries as it is in advanced economies; and significantly higher when output is above potential.
