Download or read book Exchange Rates and Inflation written by Rudiger Dornbusch and published by MIT Press. This book was released on 1988 with total page 490 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collected for the first time in Exchange Rates and Inflation, twenty-two articles are gathered in four parts covering exchange rate theory, special topics in exchange rate economics, equilibrium real exchange rates, and inflation and stabilization.
Download or read book Inequality the Price of Nontradables and the Real Exchange Rate written by Hong G. Min and published by World Bank Publications. This book was released on 2002 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Even though real exchange rate has an important impact on sustainable export and economic growth for small open economies, its impact on income distribution and transmission mechanism was never investigated. The paper shows that improved income distribution, through its impact on the price of nontradables, is associated with real exchange rate devaluation.
Download or read book Exchange Rate Economics written by Peter Isard and published by Cambridge University Press. This book was released on 1995-09-28 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes and evaluates the literature on exchange rate economics. It provides a wide-ranging survey, with background on the history of international monetary regimes and the institutional characteristics of foreign exchange markets, an overview of the development of conceptual and empirical models of exchange rate behavior, and perspectives on the key issues that policymakers confront in deciding whether, and how, to try to stabilize exchange rates. The treatment of most topics is reasonably compact, with extensive references to the literature for those desiring to pursue individual topics further. The level of exposition is relatively easy to comprehend; the historical and institutional material (part I) and the discussion of policy issues (part III) contain no equations or technical notation, while the chapters on models of exchange rate behavior (part II) are written at a level intelligible to first-year graduate students or advanced undergraduates. The book will enlighten both students and policymakers, and should also serve as a valuable reference for many research economists.
Download or read book The New Palgrave Dictionary of Economics written by and published by Springer. This book was released on 2016-05-18 with total page 7493 pages. Available in PDF, EPUB and Kindle. Book excerpt: The award-winning The New Palgrave Dictionary of Economics, 2nd edition is now available as a dynamic online resource. Consisting of over 1,900 articles written by leading figures in the field including Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated! This product is a subscription based product.
Download or read book Advances in Pacific Basin Business Economics and Finance written by Cheng-Few Lee and published by Emerald Group Publishing. This book was released on 2023-05-01 with total page 254 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Pacific Basin Business, Economics and Finance (APBBEF) is an annual series designed to focus on interdisciplinary research in finance, economics, and management among Pacific Rim countries.
Download or read book Macroeconomic and Sectoral Effects of Terms of Trade Shocks written by International Monetary Fund and published by International Monetary Fund. This book was released on 1999-10-01 with total page 57 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the impact of long-run terms-of-trade shocks. Analytically, we show that, if capital goods are largely importable or the labor supply is sufficiently elastic, then natural-resource booms increase aggregate investment and worsen the current account, but Dutch ‘Disease’ effects are weak. We then examine 18 oil-exporting developing countries during 1965-89. Favorable terms-of-trade shocks increase investment and (especially government) consumption, but reduce medium-term savings; hence, the current account deteriorates. Nontradable output increases, in response to real appreciations, but Dutch Disease effects are strikingly absent. Investment, consumption, and nontradable output respond more to a terms-of-trade decline than to an increase.
Download or read book The Response of the Current Account to Terms of Trade Shocks written by Christopher J. Kent and published by International Monetary Fund. This book was released on 2003-07-01 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Is the relationship between the current account balance and the terms of trade affected by the persistence of terms of trade shocks? In intertemporal models of the current account that incorporate a consumption-smoothing and an investment response to shocks, the effect of the terms of trade on external balances is predicted to be dependent on the duration of terms of trade shocks. Using a median-unbiased estimator, an unbiased model-selection rule, and terms of trade data for 128 countries over the period 1960-99 we identify two groups of countries-those that typically experience temporary terms of trade shocks and those that typically experience permanent terms of trade shocks. The results from panel-data regressions of the two groups of countries support the theoretical predictions of the intertemporal approach to the current account. We find that the greater (lesser) the persistence of the terms of trade shock, the more (less) the investment effect dominates the consumption-smoothing effect on saving, so that the current account balance moves in the opposite (same) direction as that of the shock.
Download or read book IMF Staff papers written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1988-01-01 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt: A central proposition regarding effects of different mechanisms of fi-nancing public expenditures is that, under specific circumstances, it makes no difference to the level of aggregate demand if the government finances its outlays by debt or taxation. This so-called Ricardian equivalence states that, for a given expenditure path, substitution of debt for taxes does not affect private sector wealth and consumption. This paper provides a model illustrating the implications of Ricardian equivalence, surveys the litera-ture, considers effects of relaxing the basic assumptions, provides a frame-work to study implications of various extensions, and critically reviews recent empirical work on Ricardian equivalence.
Download or read book Competitiveness in Transition Economies written by Ms.Kornelia Krajnyak and published by International Monetary Fund. This book was released on 1997-11-01 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper estimates equilibrium dollar wages for 15 transition economies. Equilibrium dollar wages are interpreted as full employment wages consistent with a country’s physical and human capital endowment, and estimated by regressing actual dollar wages on productivity and human capital proxies in a short (1990-95) panel of 85 countries. The main results are: (i) equilibrium dollar wages have appreciated steadily in the Baltic countries and fast-reforming Central and Eastern European (CEE) transition economies, but have been flat in most CIS countries; and (ii) 1996 actual dollar wages remain below estimated equilibrium dollar wages for most but not all transition countries covered.
Download or read book On Exchange Rates written by Jeffrey A. Frankel and published by MIT Press. This book was released on 1993 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: These seventeen essays provide an accessible and thorough reference for understanding the role of exchange rates in the international monetary system since 1973, when the rates were allowed to float. The essays analyze such issues as exchange rate movements, exchange risk premia, investor expectations of exchange rates and behavior of exchange rates in different systems. Frankel's sound empirical treatment of exchange rate questions shows that it is possible to produce work that is interesting from a purely intellectual viewpoint while contributing to practical knowledge of the real world of international economics and finance.The essays have been organized in a way that provides an introduction to the field of empirical international finance. Part I documents the steady reduction in barriers to international capital movement and leads logically to part II, which explains how exchange rates are determined. Both monetary and portfolio-based models are surveyed in part II, providing a clear transition to the topic of part III; the possible existence of an exchange risk premium. Part IV applies the tools discussed in earlier sections to explore various policy questions related to exchange rate expectations such as whether foreign exchange intervention matters and whether the European monetary system had become credible by 1991. Each part begins with a detailed introduction explaining not only the central issues of that section but also suggesting connections with other essays in the book.Jeffrey A. Frankel is Professor of Economics at the University of California, Berkeley.
Download or read book The Macroeconomics of Public Sector Deficits written by Roumeen Islam and published by World Bank Publications. This book was released on 1991 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Unity with Diversity in the European Economy written by Centre for Economic Policy Research (Great Britain) and published by Cambridge University Press. This book was released on 1990-08-30 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The enlargement that encompassed the accession of Greece in 1981 and of Spain and Portugal in 1986 significantly altered the balance of the European Community (EC), while the double shock of EC membership and 1992 could have driven the economies of the new members into depression or, equally, accelerate their modernisation. This important 1990 book from the Centre for Economic Policy Research examines theoretical issues in the integration of a diverse economic region and the combined impact of EC membership, financial integration and the single market programme on the joining countries. There is an introduction by the editors and a foreword by Michael Emerson and Richard Portes.
Download or read book Inflationary Rigidities and Stabilization Policies written by and published by World Bank Publications. This book was released on with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomics for Developing Countries written by Raghbendra Jha and published by Routledge. This book was released on 2003-04-24 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensively revised and updated edition develops the themes presented in the first edition. Students and teachers who are familiar with the book will notice entirely new chapters as well as significant revision and uptating of existing chapters to take into account global economic changes since the turn of the millennium. With qu
Download or read book IMF Staff papers Volume 45 No 2 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 1998-01-01 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes contagion and volatility with imperfect credit markets. The paper interprets contagion effects as an increase in the volatility of shocks impinging on the economy. The implications of this approach are analyzed in a model in which domestic banks borrow at a premium on world capital markets, and domestic producers borrow at a premium from domestic banks. Financial spreads depend on a markup that compensates lenders, in particular, for the expected cost of contract enforcement. Higher volatility increases financial spreads and the producers’ cost of capital.
Download or read book IMF Staff Papers Volume 54 No 2 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2007-09-26 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: Vol. 54, No. 2 includes three notable contributions from the Seventh Jacques Polak Annual Research Conference (ARC) hosted by the IMF in November 2006. Its lead paper, by Olivier Blanchard of Harvard University, is the 2006 Mundell-Fleming Lecture (delivered at the ARC), which analyzes current-account deficits in the advanced economies. Other papers in this issue look at the relationship between international financial integration and the real economy. Other papers discuss whether (or not): i) the next capital account crisis can be predicted; ii) accepted definitions of debt crises are adequate; iii) the Doha Round of trade talks (if they are ever successfully completed) will lead to preference erosion; and finally iv) there is room for political opportunism in countries deciding between money-based or exchange-rate-based stabilization programs.
Download or read book Economic Effects of the Government Budget written by Elhanan Helpman and published by MIT Press (MA). This book was released on 1988 with total page 376 pages. Available in PDF, EPUB and Kindle. Book excerpt: The original contributions in this book analyze all of the budget's components expenditures, revenues, the deficit - with a special emphasis on issues that have assumed increasing importance over the last decade or so, such as intergenerational transfers of debt and declines in corporate tax revenues.
