
Income Distribution and Current Account Imbalances
... household leverage and current account imbalances? The view that rising income inequality has been a main underlying cause of the economic and nancial crisis in the United States starting in 2007 is now rather common among economists and policymakers (for surveys of the literature see Atkinson and ...
... household leverage and current account imbalances? The view that rising income inequality has been a main underlying cause of the economic and nancial crisis in the United States starting in 2007 is now rather common among economists and policymakers (for surveys of the literature see Atkinson and ...
On the Benefits of Capital Account Liberalization for Emerging
... account liberalization for emerging economies, in an attempt to outline what could be a research agenda on these issues. When we look at the range of benefits that economists have attributed to capital account opening, which ones seem potentially large and maybe deserve increased attention from the ...
... account liberalization for emerging economies, in an attempt to outline what could be a research agenda on these issues. When we look at the range of benefits that economists have attributed to capital account opening, which ones seem potentially large and maybe deserve increased attention from the ...
R E C E N T G L O... GENERAL LC/CAR/G.596 20 December 1999
... the region to international financial markets, deprived it of the benefits of financial integration but also shielded it from financial turbulence. O f the countries of Sub-Saharan Africa, South Africa suffered the brunt of the Asian financial crisis, due to its relatively well-developed financial m ...
... the region to international financial markets, deprived it of the benefits of financial integration but also shielded it from financial turbulence. O f the countries of Sub-Saharan Africa, South Africa suffered the brunt of the Asian financial crisis, due to its relatively well-developed financial m ...
Structural budget balance: a love at first sight turned sour
... balance, a rise in tax revenues due to a pick-up of the economy does not show up in the structural balance indicator, while a rise caused by a tax measure does. If this is the case, the indicator performs as envisaged (measuring the size of fiscal policy effort). It can then be used not only as an i ...
... balance, a rise in tax revenues due to a pick-up of the economy does not show up in the structural balance indicator, while a rise caused by a tax measure does. If this is the case, the indicator performs as envisaged (measuring the size of fiscal policy effort). It can then be used not only as an i ...
NBER WORKING PAPER SERIES INTERNATIONAL FINANCIAL INTEGRATION AND ECONOMIC GROWTH Hali J. Edison
... In practice, empirical analyses use either (i) proxies for government restrictions on capital flows or (ii) measures of actual international capital flows. The International Monetary Fund’s (IMF) IMF-restriction measure is the most commonly used proxy of government restrictions on international fin ...
... In practice, empirical analyses use either (i) proxies for government restrictions on capital flows or (ii) measures of actual international capital flows. The International Monetary Fund’s (IMF) IMF-restriction measure is the most commonly used proxy of government restrictions on international fin ...
A Policymaker`s Guide to Dutch Disease
... Could the country save the aid instead? In principle, a country could instead save the foreign aid, for example by building up its foreign exchange reserves. This would defer the day when it is used in one of the three ways described above (and would correspondingly defer the benefits); but althoug ...
... Could the country save the aid instead? In principle, a country could instead save the foreign aid, for example by building up its foreign exchange reserves. This would defer the day when it is used in one of the three ways described above (and would correspondingly defer the benefits); but althoug ...
Technology Transfer and the Restructuring of New Market
... introduction of new quality products leading to greater product differentiation and enhanced competitiveness on the domestic market ...
... introduction of new quality products leading to greater product differentiation and enhanced competitiveness on the domestic market ...
Money and Monetary Policy for the 21st Century
... Modern market economies would not be possible without formation about relative prices and conducting transacfinancial stability. However, as events around the world in tions. Those resources could have been used to raise the the past decade demonstrated, financial institutions are “potential output” o ...
... Modern market economies would not be possible without formation about relative prices and conducting transacfinancial stability. However, as events around the world in tions. Those resources could have been used to raise the the past decade demonstrated, financial institutions are “potential output” o ...
5 Chartalism and the tax-driven approach to money
... Logically, and in practice, government spending comes prior to taxation, to provide that which is necessary to pay taxes. In the modern world, states usually have monopoly power over the issue of their currency. States with sovereign currency control (i.e. which do not operate under the restrictions ...
... Logically, and in practice, government spending comes prior to taxation, to provide that which is necessary to pay taxes. In the modern world, states usually have monopoly power over the issue of their currency. States with sovereign currency control (i.e. which do not operate under the restrictions ...
PPP Estimates: Applications by the International
... used as weights to derive world output growth differ, depending on whether the GDP shares are valued at PPP or market exchange rates. The weights used in the WEO between rounds are updated by the growth in the relative GDP (the country’s GDP deflator divided by the U.S. GDP deflator).16 However, thi ...
... used as weights to derive world output growth differ, depending on whether the GDP shares are valued at PPP or market exchange rates. The weights used in the WEO between rounds are updated by the growth in the relative GDP (the country’s GDP deflator divided by the U.S. GDP deflator).16 However, thi ...
Downward Nominal Wage Rigidity, Currency Pegs, and Involuntary
... onset of the Great Contraction in Europe. Detailed data sources and country-by-country plots are available in online appendix A. The data are provided with the online materials of this paper. Color version available as an online enhancement. ...
... onset of the Great Contraction in Europe. Detailed data sources and country-by-country plots are available in online appendix A. The data are provided with the online materials of this paper. Color version available as an online enhancement. ...
Modeling Irish Unification
... rates and regulations of the south. This harmonization of taxes would involve both changes in adoption of activity taxes as well as taxes on imports, commodities, and institutional taxes. These changes would likely foster greater FDI in the north and contribute to economic growth. 2. Diminished trad ...
... rates and regulations of the south. This harmonization of taxes would involve both changes in adoption of activity taxes as well as taxes on imports, commodities, and institutional taxes. These changes would likely foster greater FDI in the north and contribute to economic growth. 2. Diminished trad ...
CENTRAL BANK BALANCE SHEETS: - ECB Forum on Central Banking
... In this paper we study the evolution of central banks’ balance sheets in twelve advanced economies since 1900. We present a new dataset assembled from a wide array of historical sources. We find that balance sheet size in most developed countries has fluctuated within rather clearly defined bands re ...
... In this paper we study the evolution of central banks’ balance sheets in twelve advanced economies since 1900. We present a new dataset assembled from a wide array of historical sources. We find that balance sheet size in most developed countries has fluctuated within rather clearly defined bands re ...
Lecture 3: Vulnerabilities Related to the Scaling Up of Aid and Other
... competitiveness of exports and might thus undermine economic growth Exports ...
... competitiveness of exports and might thus undermine economic growth Exports ...
Suriname Country Report
... Central Bank justified this monetary policy tightening as needed to reduce public and private sector demand pressures for imports, a significant contributing factor to the current account deficit of the balance of payments (Hoefdraad). This contraction in credit supply and resulting increase in inte ...
... Central Bank justified this monetary policy tightening as needed to reduce public and private sector demand pressures for imports, a significant contributing factor to the current account deficit of the balance of payments (Hoefdraad). This contraction in credit supply and resulting increase in inte ...
ANALYSIS OF THE ZIMBABWEAN HYPERINFLATION CRISIS: A
... rely on creating a new, stable currency, whose supply cannot be increased without complete backing. This system inherently demands a balanced government budget, as borrowing is extremely restricted by the inability to raise revenue through changes in money supply. Exchange rate-based stabilizations ...
... rely on creating a new, stable currency, whose supply cannot be increased without complete backing. This system inherently demands a balanced government budget, as borrowing is extremely restricted by the inability to raise revenue through changes in money supply. Exchange rate-based stabilizations ...
Multipolarity: The New Global Economy
... Composite indicator of international currency shares, 1999–2009. . . . . . . . . . . . . . . . . . 132 Global currency shares relative to trade share and economic size. . . . . . . . . . . . . . . . . . . 133 ...
... Composite indicator of international currency shares, 1999–2009. . . . . . . . . . . . . . . . . . 132 Global currency shares relative to trade share and economic size. . . . . . . . . . . . . . . . . . . 133 ...
The slowdown in emerging market economies and its
... and Russia, declines in key commodity prices have interacted with other shocks (including political uncertainty and the fallout from geopolitical tensions), leading to significant macroeconomic adjustments. As commodity-driven revenues have shrunk and fiscal positions have deteriorated, governments ...
... and Russia, declines in key commodity prices have interacted with other shocks (including political uncertainty and the fallout from geopolitical tensions), leading to significant macroeconomic adjustments. As commodity-driven revenues have shrunk and fiscal positions have deteriorated, governments ...
What Happened to the Great US Job Machine?
... clear call to our business and political leaders that our trade policies simply are not working. At the least, not in the national interest.” Lou Dobbs “A home advantage for U.S. corporations” CNN Friday, August 27, 2004. The business cycle downturn and recovery of the past few years has been an unu ...
... clear call to our business and political leaders that our trade policies simply are not working. At the least, not in the national interest.” Lou Dobbs “A home advantage for U.S. corporations” CNN Friday, August 27, 2004. The business cycle downturn and recovery of the past few years has been an unu ...
macroeconomic effects of exchange rate volatility in zambia
... in turn affect demand and consequently consumption. Monetary policy is also affected by currency fluctuations especially where domestic growth is underpinned by exports as authorities attempt to support the external sector through exchange rate stabilisation at the expense of inflation stabilisation ...
... in turn affect demand and consequently consumption. Monetary policy is also affected by currency fluctuations especially where domestic growth is underpinned by exports as authorities attempt to support the external sector through exchange rate stabilisation at the expense of inflation stabilisation ...
FISCAL POLICY IN SWEDEN
... change in the structural balance, not of its level. In brief, this method entails removing the effects that are due to unemployment from the changes in the actual balance. The third question deals with a further aspect of fiscal policy, how it affects aggregate demand. The development of the structu ...
... change in the structural balance, not of its level. In brief, this method entails removing the effects that are due to unemployment from the changes in the actual balance. The third question deals with a further aspect of fiscal policy, how it affects aggregate demand. The development of the structu ...
NBER WORKING PAPER SERIES WAGES, RELATIVE PRICES AND CHOICE BETWEEN
... he disturbances have an expected value of zero and are serially uncorrelated. For an analysis of fiscal policy in a stochastic framework similar to this paper's, see Marion (1981) where the distinctions between unanticipated and anticipated, as well as temporary and permanent policies are spelled ou ...
... he disturbances have an expected value of zero and are serially uncorrelated. For an analysis of fiscal policy in a stochastic framework similar to this paper's, see Marion (1981) where the distinctions between unanticipated and anticipated, as well as temporary and permanent policies are spelled ou ...
Fiscal Policy: A Summing Up
... 26-2 Four Issues in Fiscal Policy Having looked at the mechanics of the government budget constraint, we can now take up four issues in which this constraint plays a central role. ...
... 26-2 Four Issues in Fiscal Policy Having looked at the mechanics of the government budget constraint, we can now take up four issues in which this constraint plays a central role. ...
Global Financial Markets and Instruments
... After the Second War and the IMF par value system came into existence, we became part of the new world system. Countries had exchange control and various sorts of trade restrictions. It was after the Seventies that gradually a scheme of flexible exchange rates came into existence among leading devel ...
... After the Second War and the IMF par value system came into existence, we became part of the new world system. Countries had exchange control and various sorts of trade restrictions. It was after the Seventies that gradually a scheme of flexible exchange rates came into existence among leading devel ...