Surprising Similarities: Recent Monetary Regimes of Small Economies Andrew K. Rose
... well-defined monetary regimes widely used by small economies around the world. The two regimes are also quite different, potentially providing a sharp contrast. The question I raise is, Did one monetary regime provide more insulation from the crisis than the other? The Great Recession associated wit ...
... well-defined monetary regimes widely used by small economies around the world. The two regimes are also quite different, potentially providing a sharp contrast. The question I raise is, Did one monetary regime provide more insulation from the crisis than the other? The Great Recession associated wit ...
WIDER Annual Lecture 9
... who are poor in absolute terms, using the World Bank standard of US$2 a day (in 1985 dollars), and for extreme poverty of US$1 day. Across countries there is at best a weak association between absolute poverty and inequality (Figure 1). I use the term equity, or social equity, as in an ‘equitable’ s ...
... who are poor in absolute terms, using the World Bank standard of US$2 a day (in 1985 dollars), and for extreme poverty of US$1 day. Across countries there is at best a weak association between absolute poverty and inequality (Figure 1). I use the term equity, or social equity, as in an ‘equitable’ s ...
Inequality and Injustice in our Global Economy
... who are poor in absolute terms, using the World Bank standard of US$2 a day (in 1985 dollars), and for extreme poverty of US$1 day. Across countries there is at best a weak association between absolute poverty and inequality (Figure 1). I use the term equity, or social equity, as in an ‘equitable’ s ...
... who are poor in absolute terms, using the World Bank standard of US$2 a day (in 1985 dollars), and for extreme poverty of US$1 day. Across countries there is at best a weak association between absolute poverty and inequality (Figure 1). I use the term equity, or social equity, as in an ‘equitable’ s ...
The data are collected at a quarterly frequency, over a
... Second, we collect data on several measures of excess liquidity for a relatively large number of industrialised and developing countries and we analyse the co-movement across them by means of a factor analysis. Moreover, we analyse whether the common factor – which we interpret as a measure of "glob ...
... Second, we collect data on several measures of excess liquidity for a relatively large number of industrialised and developing countries and we analyse the co-movement across them by means of a factor analysis. Moreover, we analyse whether the common factor – which we interpret as a measure of "glob ...
Economic Premise - World Bank Group
... to markets. With the fall of the Bretton Woods system and the severing of a formal link with gold (and other currencies), the attractiveness of the U.S. dollar as a global reserve currency has been market driven, largely by the liquidity and depth of U.S. financial markets. Central banks do not hold ...
... to markets. With the fall of the Bretton Woods system and the severing of a formal link with gold (and other currencies), the attractiveness of the U.S. dollar as a global reserve currency has been market driven, largely by the liquidity and depth of U.S. financial markets. Central banks do not hold ...
Bubbly Collateral and Economic Activity
... We build on this insight to develop a model of the bubbly economy. Entrepreneurs demand funds from bankers to finance their investment projects. Bankers, in turn, demand funds from savers to finance their loans to entrepreneurs. All of this borrowing must be collateralized, that is, it must be back ...
... We build on this insight to develop a model of the bubbly economy. Entrepreneurs demand funds from bankers to finance their investment projects. Bankers, in turn, demand funds from savers to finance their loans to entrepreneurs. All of this borrowing must be collateralized, that is, it must be back ...
FREE Sample Here
... Explanation: C) Opportunity cost refers to the value of the most appealing alternative from all those you didn't choose. In other words, opportunity cost is a way to measure the value of what you gave up when you pursued a different opportunity. Page Ref: 28 Difficulty: Moderate AACSB: Analytic Skil ...
... Explanation: C) Opportunity cost refers to the value of the most appealing alternative from all those you didn't choose. In other words, opportunity cost is a way to measure the value of what you gave up when you pursued a different opportunity. Page Ref: 28 Difficulty: Moderate AACSB: Analytic Skil ...
NBER WORKING PAPER SERIES CALLING RECESSIONS IN REAL TIME James D. Hamilton
... further elucidation of what we actually mean when we say that the economy is in a recession. If the dates assigned by the NBER represent the answer, what is the question? The whole process seems to presuppose that there are some very different factors operating on the economy at some times relative t ...
... further elucidation of what we actually mean when we say that the economy is in a recession. If the dates assigned by the NBER represent the answer, what is the question? The whole process seems to presuppose that there are some very different factors operating on the economy at some times relative t ...
The Fiscal Multiplier in Small Open Economy
... the borrowing constraint and the resaleability constraint on their equity holdings. I introduce a role for government spending in the DEFK model to study the scal multiplier in an economy where liquidity is scarce. Del Negro et al. (2011) develop the DEFK model to study the macroeconomic e ects of u ...
... the borrowing constraint and the resaleability constraint on their equity holdings. I introduce a role for government spending in the DEFK model to study the scal multiplier in an economy where liquidity is scarce. Del Negro et al. (2011) develop the DEFK model to study the macroeconomic e ects of u ...
Kagiso Mangadi and Jeffrey Sheen
... As mentioned above, Karagedikli and Price (2012) identify how the terms of trade propagate through the New Zealand economy using the sign restrictions methodology. This study closely followed similar work by J¨aa¨skel¨aand Smith (2013) for the Australian economy. These papers applied a similar metho ...
... As mentioned above, Karagedikli and Price (2012) identify how the terms of trade propagate through the New Zealand economy using the sign restrictions methodology. This study closely followed similar work by J¨aa¨skel¨aand Smith (2013) for the Australian economy. These papers applied a similar metho ...
Local, Regional or Global? Quantifying MNC
... to similarly defined GDP ratios, denoted hI, eI, and wI, where hI is the GDP of the home country as a share of global GDP, eI is the GDP share of rest of the home region and wI that of the rest of the world. If the firm had no nationality – and therefore encountered no liability of foreignness – it ...
... to similarly defined GDP ratios, denoted hI, eI, and wI, where hI is the GDP of the home country as a share of global GDP, eI is the GDP share of rest of the home region and wI that of the rest of the world. If the firm had no nationality – and therefore encountered no liability of foreignness – it ...
NBER WORKING PAPER SERIES OFFSET AND STERILIZATION UNDER FIXED EXCHANGE
... Herring and Marston (l977a) estimated a reaction function of the Bundesbank for the 1960-1971 and found that during each quarter of that period approximately 90 % of the change in foreign reserves was sterilized; this suggest a policy of almost complete sterilization of foreign reserve flows. Obstfe ...
... Herring and Marston (l977a) estimated a reaction function of the Bundesbank for the 1960-1971 and found that during each quarter of that period approximately 90 % of the change in foreign reserves was sterilized; this suggest a policy of almost complete sterilization of foreign reserve flows. Obstfe ...
Comments on Paul Davidson`s “Full Employment, Open Economy
... economy. Instead now suppose that the economy in question is large. Suppose that it represents half of the world. Davidson is right to say that things are then different from what has just been described. We start again by considering a depreciation of the real exchange rate by a country which is at ...
... economy. Instead now suppose that the economy in question is large. Suppose that it represents half of the world. Davidson is right to say that things are then different from what has just been described. We start again by considering a depreciation of the real exchange rate by a country which is at ...
Preview Sample 1
... Explanation: Scarcity has two powerful effects: It creates competition for resources, and it forces trade-offs on the part of every participant in the economy. Page Ref: 27 Difficulty: Moderate AACSB: Dynamics of the Global Economy Chapter LO: 1 Course LO: Compare and contrast different economic sys ...
... Explanation: Scarcity has two powerful effects: It creates competition for resources, and it forces trade-offs on the part of every participant in the economy. Page Ref: 27 Difficulty: Moderate AACSB: Dynamics of the Global Economy Chapter LO: 1 Course LO: Compare and contrast different economic sys ...
This PDF is a selection from an out-of-print volume from... of Economic Research Volume Title: International Aspects of Fiscal Policies
... individuals to self-insure by saving. Suppose the policy is imposed, randomly, in some periods and not in others. Individuals will consume less X and Y and save more in periods without the policy, that is, in periods when the government does not tax them to provide foreign aid. They will dissave in ...
... individuals to self-insure by saving. Suppose the policy is imposed, randomly, in some periods and not in others. Individuals will consume less X and Y and save more in periods without the policy, that is, in periods when the government does not tax them to provide foreign aid. They will dissave in ...
The Recent Recession, the Current Recovery, and Stock Prices
... In practice, the only available comprehensive measures of profits are NIPA profits and S&P profits. Several versions of NIPA profits are available: NIPA profits after taxes exclude adjustments for inventory valuation and capital consumption, whereas NIPA adjusted profits after taxes include these ad ...
... In practice, the only available comprehensive measures of profits are NIPA profits and S&P profits. Several versions of NIPA profits are available: NIPA profits after taxes exclude adjustments for inventory valuation and capital consumption, whereas NIPA adjusted profits after taxes include these ad ...
Database of Global Economic Indicators
... the methodology described in this document, to explain what the indicators capture and what these aggregates can tell us about the global outlook. The work we’ve done offers a new look at global economic developments and the global outlook (through Global Economic Conditions web updates and charts, ...
... the methodology described in this document, to explain what the indicators capture and what these aggregates can tell us about the global outlook. The work we’ve done offers a new look at global economic developments and the global outlook (through Global Economic Conditions web updates and charts, ...
The globalisation of inflation - Bank for International Settlements
... link between globalisation and domestic inflation. The paper proceeds as follows. The first section briefly describes the evolution of international input-output linkages and explores their possible link with inflation. The second section outlines the methodology for constructing measures of GVCs an ...
... link between globalisation and domestic inflation. The paper proceeds as follows. The first section briefly describes the evolution of international input-output linkages and explores their possible link with inflation. The second section outlines the methodology for constructing measures of GVCs an ...
The Transmission of Monetary Policy Operations through
... motivation is necessarily a practical one. When researchers estimate the e¤ects of (exogenous) monetary policy interventions, they do not (cannot) abstract from or control for the ...
... motivation is necessarily a practical one. When researchers estimate the e¤ects of (exogenous) monetary policy interventions, they do not (cannot) abstract from or control for the ...
Inflation targeting vs. nominal GDP targeting
... at first applied common monetary policy tools, mainly in order to lower short-run interest rates. As the time went by, target interest rates were cut to almost zero, and central banks fell into liquidity traps. Nominal interest rates cannot be lower than zero, because customers would not deposit thei ...
... at first applied common monetary policy tools, mainly in order to lower short-run interest rates. As the time went by, target interest rates were cut to almost zero, and central banks fell into liquidity traps. Nominal interest rates cannot be lower than zero, because customers would not deposit thei ...
Turning Points: Business Cycles in Canada since 1926
... at the NBER with the Great Depression. In 1930, the US government asked the NBER if there were signs of economic recovery. Burns and Mitchell responded with work that was later published under the titles “Statistical Indicators of Cyclical Revivals” in 1938 and “Measuring Business Cycles” in 1946. T ...
... at the NBER with the Great Depression. In 1930, the US government asked the NBER if there were signs of economic recovery. Burns and Mitchell responded with work that was later published under the titles “Statistical Indicators of Cyclical Revivals” in 1938 and “Measuring Business Cycles” in 1946. T ...
Testing the Validity of the Triplet Deficit Hypothesis for Turkey
... validity of the triple deficit hypothesis which emphasizes that imbalances emerge in the current account because of changes in the volume of savings. In a study on developing countries, Zaidi (1985) found that the expansion of investment expenditures would put pressure on saving rates and thus cause ...
... validity of the triple deficit hypothesis which emphasizes that imbalances emerge in the current account because of changes in the volume of savings. In a study on developing countries, Zaidi (1985) found that the expansion of investment expenditures would put pressure on saving rates and thus cause ...
T C A B
... predicts a change in policy that did not take place, then one can attribute the inaction to a negative shock to this relation. But the Depression was marked by governments and central banks acting in character, doing what they had been doing before even though conditions had changed. Historians of t ...
... predicts a change in policy that did not take place, then one can attribute the inaction to a negative shock to this relation. But the Depression was marked by governments and central banks acting in character, doing what they had been doing before even though conditions had changed. Historians of t ...
Brandt Equation (2002)
... failure of the global economy and the problems plaguing developing nations. Brandt, the former West German Chancellor, was recipient of the 1971 Nobel Peace Prize for the Ostpolitik policies that achieved détente between the Soviet Union and the nations of the NATO alliance. With his new commission, ...
... failure of the global economy and the problems plaguing developing nations. Brandt, the former West German Chancellor, was recipient of the 1971 Nobel Peace Prize for the Ostpolitik policies that achieved détente between the Soviet Union and the nations of the NATO alliance. With his new commission, ...
Nouriel Roubini
Nouriel Roubini (born March 29, 1958) is an American economist. He teaches at New York University's Stern School of Business and is the chairman of Roubini Global Economics, an economic consultancy firm.The child of Iranian Jews, he was born in Turkey and grew up in Italy. After receiving a BA in political economics at Bocconi University, Milan and a doctorate in international economics at Harvard University, he became an academic at Yale and a practising economist at the International Monetary Fund (IMF), the Federal Reserve, World Bank, and Bank of Israel. Much of his early research focused on emerging markets. During the administration of President Bill Clinton, he was a senior economist for the Council of Economic Advisers, later moving to the United States Treasury Department as a senior adviser to Timothy Geithner, who in 2009 became Treasury Secretary.