NBER WORKING PAPER SERIES INTERNATIONAL CAPITAL FLOWS UNDER DISPERSED INFORMATION: Cédric Tille
... unrelated to expected returns. In the NRE literature the noise is usually simply introduced exogenously in the form of noise trade or liquidity trade. Some papers have introduced it endogenously in various forms of hedge trade and liquidity trade.6 For our purposes the existence of a source of noise ...
... unrelated to expected returns. In the NRE literature the noise is usually simply introduced exogenously in the form of noise trade or liquidity trade. Some papers have introduced it endogenously in various forms of hedge trade and liquidity trade.6 For our purposes the existence of a source of noise ...
new challenges to growth and stability
... Latin America had a remarkable economic performance in the first decade of the 2000s. Real output grew at a rapid pace, inflation was low and relatively stable, public debt declined significantly, and international reserves increased. The economic prosperity was broadly shared: income inequality dec ...
... Latin America had a remarkable economic performance in the first decade of the 2000s. Real output grew at a rapid pace, inflation was low and relatively stable, public debt declined significantly, and international reserves increased. The economic prosperity was broadly shared: income inequality dec ...
Download Full Report
... by utilizing their own pocket banks to handle the transactions, Russian corporations have been able to transfer hundreds of billions of dollars out of their country. None of this shows up in our data or in other analyses of flight capital from the country. Moreover, IMF trade data does not include s ...
... by utilizing their own pocket banks to handle the transactions, Russian corporations have been able to transfer hundreds of billions of dollars out of their country. None of this shows up in our data or in other analyses of flight capital from the country. Moreover, IMF trade data does not include s ...
... This year’s Trade and Development Report demonstrates that the conditions for achieving the Millennium Development Goal of halving extreme poverty by 2015 have improved considerably over the past three years, as economic growth in the developing world has become more broad-based and embraced many of ...
Foreign Direct Investment
... particular stages in the life cycle of a product they have pioneered Firms invest in other advanced countries when local demand in those countries grows large enough to support local production Firms then shift production to low-cost developing countries when product standardization and market s ...
... particular stages in the life cycle of a product they have pioneered Firms invest in other advanced countries when local demand in those countries grows large enough to support local production Firms then shift production to low-cost developing countries when product standardization and market s ...
Chapter 7 File
... particular stages in the life cycle of a product they have pioneered Firms invest in other advanced countries when local demand in those countries grows large enough to support local production Firms then shift production to low-cost developing countries when product standardization and market s ...
... particular stages in the life cycle of a product they have pioneered Firms invest in other advanced countries when local demand in those countries grows large enough to support local production Firms then shift production to low-cost developing countries when product standardization and market s ...
chap007 - Homework Market
... particular stages in the life cycle of a product they have pioneered Firms invest in other advanced countries when local demand in those countries grows large enough to support local production Firms then shift production to low-cost developing countries when product standardization and market s ...
... particular stages in the life cycle of a product they have pioneered Firms invest in other advanced countries when local demand in those countries grows large enough to support local production Firms then shift production to low-cost developing countries when product standardization and market s ...
The Marginal Product of Capital
... the capital share in income. We then combine data on output and capital with data on the capital share to back out the MPK.4 Our main result is that MPKs are essentially equalized: The return from investing in capital is no higher in poor countries than in rich countries. This means that one can rat ...
... the capital share in income. We then combine data on output and capital with data on the capital share to back out the MPK.4 Our main result is that MPKs are essentially equalized: The return from investing in capital is no higher in poor countries than in rich countries. This means that one can rat ...
... The region has undergone notable economic transformation resulting from sustained high rates of economic growth for many years. A rising share of manufacturing output in gross domestic product and rapid urbanization are but two manifestations of the transformation, which has not, however, been accom ...
Chile`s new fiscal rule
... output. Although a variety of methods exist for calculating potential output and corresponding output gaps, all of them have major shortcomings (see e.g. Deutsche Bundesbank 1997). An additional caveat is that estimates of the structural balance are usually based on the assumption of constant revenu ...
... output. Although a variety of methods exist for calculating potential output and corresponding output gaps, all of them have major shortcomings (see e.g. Deutsche Bundesbank 1997). An additional caveat is that estimates of the structural balance are usually based on the assumption of constant revenu ...
Crisis and Consumption Smoothing
... etc., due to their high dependence on exports relative to domestic consumption), extent of debt (i.e., more indebted implying greater impact in Eastern European countries) and so on. In short, there is an abundance of ad-hoc explanations for the observed patterns of impact of the crisis but a seriou ...
... etc., due to their high dependence on exports relative to domestic consumption), extent of debt (i.e., more indebted implying greater impact in Eastern European countries) and so on. In short, there is an abundance of ad-hoc explanations for the observed patterns of impact of the crisis but a seriou ...
Fiscal reaction function and fiscal fatigue
... further complicating the sustainability of public finances in the face of rising age-related payments and the expected trend decline in potential growth. This paper deals with the topic of fiscal sustainability by employing a so-called “fiscal reaction function” (FRF) to euro area economies (EA-18) ...
... further complicating the sustainability of public finances in the face of rising age-related payments and the expected trend decline in potential growth. This paper deals with the topic of fiscal sustainability by employing a so-called “fiscal reaction function” (FRF) to euro area economies (EA-18) ...
Day Trading the Currency Market
... technical and fundamental drivers as well as actionable trading strategies. There is something for everyone in this book, as it is designed for both the beginner and the advanced trader. In this book, I try to accomplish two major goals: to touch on the basics of the FX market and the currency chara ...
... technical and fundamental drivers as well as actionable trading strategies. There is something for everyone in this book, as it is designed for both the beginner and the advanced trader. In this book, I try to accomplish two major goals: to touch on the basics of the FX market and the currency chara ...
The Eurozone Debt Crisis 2010
... The EMU is a monetary union across countries which have asynchronous business cycles: GDP Gaps of ECU Member States and the USA ...
... The EMU is a monetary union across countries which have asynchronous business cycles: GDP Gaps of ECU Member States and the USA ...
Positioning Austria in the Global Economy: Value Added Trade
... Figure 2.1: Outline of world input-output table (WIOT)............................................................................................................. 6 Figure 3.1: Foreign value added embodied in Austrian exports in % of gross exports, 1995 to 2011 ..................................... ...
... Figure 2.1: Outline of world input-output table (WIOT)............................................................................................................. 6 Figure 3.1: Foreign value added embodied in Austrian exports in % of gross exports, 1995 to 2011 ..................................... ...
eee06-Stazka2 3772739 en
... and Gali (1994), which employs a long-run identification scheme pioneered by Blanchard and Quah (1989). A VAR system consisting of three variables – the rate of change in the real output, in the real exchange rate and in the price level – is estimated to draw inference on the three types of structur ...
... and Gali (1994), which employs a long-run identification scheme pioneered by Blanchard and Quah (1989). A VAR system consisting of three variables – the rate of change in the real output, in the real exchange rate and in the price level – is estimated to draw inference on the three types of structur ...
NBER WORKING PAPER SERIES EXCHANGE RATE VOLATILITY AND PRODUCTIVITY
... In the second part of the paper, we test our theoretical predictions by conducting a systematic panel data analysis with a data set for 83 countries over the years 1960-2000. When a country’s de facto degree of exchange rate ‡exibility is interacted with its level of …nancial development the results ...
... In the second part of the paper, we test our theoretical predictions by conducting a systematic panel data analysis with a data set for 83 countries over the years 1960-2000. When a country’s de facto degree of exchange rate ‡exibility is interacted with its level of …nancial development the results ...
CollegeChoice CD Disclosure Statement
... If we do not receive instructions at maturity, we will take the following default action: • We will automatically transfer matured funds into an Honors Savings Account until you provide distribution or other investment instructions. Alternatively, you may choose one of the following options at ...
... If we do not receive instructions at maturity, we will take the following default action: • We will automatically transfer matured funds into an Honors Savings Account until you provide distribution or other investment instructions. Alternatively, you may choose one of the following options at ...
What drives the short-run costs of fiscal consolidation?
... faced by several economies in the current post-crisis environment. But, at a minimum, our evidence should raise doubts about studies claiming that based on historical evidence post-crisis multipliers are necessarily, or everywhere, large post crisis. Our analysis also sheds some light on the transmi ...
... faced by several economies in the current post-crisis environment. But, at a minimum, our evidence should raise doubts about studies claiming that based on historical evidence post-crisis multipliers are necessarily, or everywhere, large post crisis. Our analysis also sheds some light on the transmi ...
Chapter 7 Chile`s New Fiscal Rule
... The structural balance can also be interpreted as an indicator for discretionary fiscal policy. If the business cycle leads to non-discretionary changes in fiscal policy through automatic stabilizers, while the business cycle itself is partially driven by discretionary fiscal policy measures, the st ...
... The structural balance can also be interpreted as an indicator for discretionary fiscal policy. If the business cycle leads to non-discretionary changes in fiscal policy through automatic stabilizers, while the business cycle itself is partially driven by discretionary fiscal policy measures, the st ...
IMF Reform Is Waiting on the United States
... and the United Kingdom. Nineteen persons are elected every two years to fill the remaining seats. The voting power of China, Russia, and Saudi Arabia is sufficient to allow each of those countries to elect their own executive directors. The remaining 16 seats are formally contested, but the outcome ...
... and the United Kingdom. Nineteen persons are elected every two years to fill the remaining seats. The voting power of China, Russia, and Saudi Arabia is sufficient to allow each of those countries to elect their own executive directors. The remaining 16 seats are formally contested, but the outcome ...
Merchandise Trade Territorial and Commodity Structure Development
... Figure 6: Libya’s exports between 2002 and 2012 (in million LYD)……………………….63 Figure 7: Libya’s imports between 2002 and 2012 (in million LYD)……………………….64 Figure 8: Libya’s trade flows and balance of trade (in million LYD)……………………….67 Figure 9: Commodity composition of Libyan exports (% of total comm ...
... Figure 6: Libya’s exports between 2002 and 2012 (in million LYD)……………………….63 Figure 7: Libya’s imports between 2002 and 2012 (in million LYD)……………………….64 Figure 8: Libya’s trade flows and balance of trade (in million LYD)……………………….67 Figure 9: Commodity composition of Libyan exports (% of total comm ...
studies and PERSPECTIves the caribbean
... challenge on the fiscal side in the region is t he large debt problem. Between 2011 a nd 2012 the average debt burden increased marginally from 64.2per cent of GDP to 65.5per cent of GDP and in a few cases the debt burden was in excess of 100 per cent of GDP. This situation calls for a consistent at ...
... challenge on the fiscal side in the region is t he large debt problem. Between 2011 a nd 2012 the average debt burden increased marginally from 64.2per cent of GDP to 65.5per cent of GDP and in a few cases the debt burden was in excess of 100 per cent of GDP. This situation calls for a consistent at ...
100 80 60 40
... merely involving the dollar but perhaps several currencies in the region. Such a phenomenon would, in turn, have a negative impact on the regional economy by making consumers and investors more risk averse, tempting them to divert more savings into real estate and precious metals than is currently t ...
... merely involving the dollar but perhaps several currencies in the region. Such a phenomenon would, in turn, have a negative impact on the regional economy by making consumers and investors more risk averse, tempting them to divert more savings into real estate and precious metals than is currently t ...