What is a Global Field? - Projects at Harvard
... is extended beyond national boundaries: for one, in contrast to the two dominant theoretical paradigms of global sociology field analysis offers a mode of examination that can move beyond monolithic models of one overarching economic or cultural global system (eg Wallerstein 1974, 2004; Meyer 2000) ...
... is extended beyond national boundaries: for one, in contrast to the two dominant theoretical paradigms of global sociology field analysis offers a mode of examination that can move beyond monolithic models of one overarching economic or cultural global system (eg Wallerstein 1974, 2004; Meyer 2000) ...
Aggregate Supply-Driven Deflation and Its Implications for Macroeconomic Stability David Beckworth
... since the burden of any unexpected increase in the stock of real debt arising from deflation should be offset by a corresponding unexpected increase in real income, while collateral values should not decline but increase as the positive shocks to productivity raise expectations of current and future ...
... since the burden of any unexpected increase in the stock of real debt arising from deflation should be offset by a corresponding unexpected increase in real income, while collateral values should not decline but increase as the positive shocks to productivity raise expectations of current and future ...
Spillover Implications of Differences in Monetary Conditions in
... in real and monetary conditions in the United States and the euro area requires a consistent framework to jointly identify shocks in the two economies. Second, the model must encompass a broad definition of money shocks, as both the Federal Reserve and the ECB have engaged in unconventional monetary ...
... in real and monetary conditions in the United States and the euro area requires a consistent framework to jointly identify shocks in the two economies. Second, the model must encompass a broad definition of money shocks, as both the Federal Reserve and the ECB have engaged in unconventional monetary ...
Transmission Lags of Monetary Policy: A Meta
... and what determines the speed of transmission. A common claim about the transmission mechanism of monetary policy is that it has “long and variable” lags (Friedman, 1972; Batini and Nelson, 2001; Goodhart, 2001). This view has been embraced by many central banks and taken into account during their d ...
... and what determines the speed of transmission. A common claim about the transmission mechanism of monetary policy is that it has “long and variable” lags (Friedman, 1972; Batini and Nelson, 2001; Goodhart, 2001). This view has been embraced by many central banks and taken into account during their d ...
Shadow Economies and Corruption All Over the World: New
... the quality and quantity of publicly provided goods and services. Ultimately, this can lead to an increase in the tax rates for firms and individuals in the official sector, quite often combined with a deterioration in the quality of the public goods (such as the public infrastructure) and of the ad ...
... the quality and quantity of publicly provided goods and services. Ultimately, this can lead to an increase in the tax rates for firms and individuals in the official sector, quite often combined with a deterioration in the quality of the public goods (such as the public infrastructure) and of the ad ...
The Cost of the Crisis
... The Dodd-Frank law is supposed to limit Wall Street’s highest-risk gambling so that America’s families don’t have to suffer from another financial crash and economic calamity or pay for more bailouts. Yes, that’s going to cost Wall Street some profits and bonuses, and it might even cause some of the ...
... The Dodd-Frank law is supposed to limit Wall Street’s highest-risk gambling so that America’s families don’t have to suffer from another financial crash and economic calamity or pay for more bailouts. Yes, that’s going to cost Wall Street some profits and bonuses, and it might even cause some of the ...
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... of currency crises. Section 3 discusses the data employed in the study and our selection of IMF programs to investigate. Section 4 provides a statistical background and summary statistics on the size, frequency over time, and regional distribution of IMF programs. We also consider the probability of ...
... of currency crises. Section 3 discusses the data employed in the study and our selection of IMF programs to investigate. Section 4 provides a statistical background and summary statistics on the size, frequency over time, and regional distribution of IMF programs. We also consider the probability of ...
the impact of the global financial and economic crisis - UN
... second channel through which the LDC economies have been affected. A third transmission mechanism, which can be of critical importance for some LDCs, is the slowdown in migrant workers remittance flows. As unemployment in the advanced countries increases and the end of the commodity export boom in s ...
... second channel through which the LDC economies have been affected. A third transmission mechanism, which can be of critical importance for some LDCs, is the slowdown in migrant workers remittance flows. As unemployment in the advanced countries increases and the end of the commodity export boom in s ...
Shadow Economies: Size, Causes, and Consequences
... shadow economy: “Unfortunately, there are many important issues that we do not have room to discuss, most notably the vast literature on the underground economy which exists in part as a means of evading taxes.” 6 Still, there are some connections between these two research areas. See for example Fe ...
... shadow economy: “Unfortunately, there are many important issues that we do not have room to discuss, most notably the vast literature on the underground economy which exists in part as a means of evading taxes.” 6 Still, there are some connections between these two research areas. See for example Fe ...
Distributional and Welfare Consequences of Disinflation in Emerging Economies Enes SUNEL
... This paper undertakes a quantitative investigation of the distributional and welfare consequences of a sharp decline in inflation in a small open economy. One of the building blocks of the motivation of this study is the observation that globally observed disinflation in the last two decades has bee ...
... This paper undertakes a quantitative investigation of the distributional and welfare consequences of a sharp decline in inflation in a small open economy. One of the building blocks of the motivation of this study is the observation that globally observed disinflation in the last two decades has bee ...
Woodford and Wicksell: a Cashless Economy or a Moneyless
... If we take for granted the Wicksellian definition of Economics as a practical science, it should, then, be quite natural to make the bridge between theory and practice. Unfortunately, most of the time a gap emerges between academics and policymakers. Goodhart (2005) for instance -in his survey of th ...
... If we take for granted the Wicksellian definition of Economics as a practical science, it should, then, be quite natural to make the bridge between theory and practice. Unfortunately, most of the time a gap emerges between academics and policymakers. Goodhart (2005) for instance -in his survey of th ...
Official PDF , 37 pages
... strengthen …scal space and policy outcomes? Growth in many emerging and developing economies has slowed in recent years and …nancing costs they face are expected to rise.2 Tightening of global …nancial conditions and bouts of …nancial market volatility might cause sharper slowdowns or reversals of c ...
... strengthen …scal space and policy outcomes? Growth in many emerging and developing economies has slowed in recent years and …nancing costs they face are expected to rise.2 Tightening of global …nancial conditions and bouts of …nancial market volatility might cause sharper slowdowns or reversals of c ...
Measuring Systematic Monetary Policy
... 1982) convinced many macroeconomists that monetary shocks could not account for business cycles. If money were neutral in the long-run it could not induce permanent changes in real variables. Yet real output was, in fact, dominated by a non-stationary component, suggesting that real rather than mone ...
... 1982) convinced many macroeconomists that monetary shocks could not account for business cycles. If money were neutral in the long-run it could not induce permanent changes in real variables. Yet real output was, in fact, dominated by a non-stationary component, suggesting that real rather than mone ...
Cost Push Shocks and Monetary Policies in Open
... particularly important additional concern is the relative price between home and foreign goods. Nevertheless, open economy contributions to the recent literature suggest that a welfare maximising monetary policy should focus on stabilising internal relative prices. This is achieved by strict targeti ...
... particularly important additional concern is the relative price between home and foreign goods. Nevertheless, open economy contributions to the recent literature suggest that a welfare maximising monetary policy should focus on stabilising internal relative prices. This is achieved by strict targeti ...
Asymmetric Effects of Uncertainty over the Business Cycle: A
... I name these unexpected changes exuberance shocks. Further, I interpret this finding as evidence for speculative bubbles. An exuberance shock is highly important for fluctuations in inflation and money supply growth, which are key ingredients for the development and final burst of speculative bubble ...
... I name these unexpected changes exuberance shocks. Further, I interpret this finding as evidence for speculative bubbles. An exuberance shock is highly important for fluctuations in inflation and money supply growth, which are key ingredients for the development and final burst of speculative bubble ...
Working Paper 142
... the boom. Since financial assets are growing in importance and hence, asset price fluctuations increasingly affect the economy, monetary policy could be improved by taking account of the evolution of money and credit aggregates as a signal of financial imbalances (Hildebrand 2008). There are obviousl ...
... the boom. Since financial assets are growing in importance and hence, asset price fluctuations increasingly affect the economy, monetary policy could be improved by taking account of the evolution of money and credit aggregates as a signal of financial imbalances (Hildebrand 2008). There are obviousl ...
Asia Pacific Regional Economic Outlook, May 9, 2017
... covered in Chapters 2 and 3. Chapter 2 highlights the demographic challenges facing Asia—namely that parts of Asia risk “growing old before becoming rich.” The speed of aging is especially notable compared to the experience in Europe and the United States. For many countries in the region, on curren ...
... covered in Chapters 2 and 3. Chapter 2 highlights the demographic challenges facing Asia—namely that parts of Asia risk “growing old before becoming rich.” The speed of aging is especially notable compared to the experience in Europe and the United States. For many countries in the region, on curren ...
Asia and Pacific Preparing for Choppy Seas
... covered in Chapters 2 and 3. Chapter 2 highlights the demographic challenges facing Asia—namely that parts of Asia risk “growing old before becoming rich.” The speed of aging is especially notable compared to the experience in Europe and the United States. For many countries in the region, on curren ...
... covered in Chapters 2 and 3. Chapter 2 highlights the demographic challenges facing Asia—namely that parts of Asia risk “growing old before becoming rich.” The speed of aging is especially notable compared to the experience in Europe and the United States. For many countries in the region, on curren ...
Real Stock Returns, Volatility and Real Economic Activity: Evidence From Nigeria:
... in the United States became prominently visible in September 2008 with the failure, merger, or conservatorship of several large United States-based financial firms exposed to packaged subprime loans and credit default swaps issued to insure these loans and their issuers. On September 7, 2008, the Un ...
... in the United States became prominently visible in September 2008 with the failure, merger, or conservatorship of several large United States-based financial firms exposed to packaged subprime loans and credit default swaps issued to insure these loans and their issuers. On September 7, 2008, the Un ...
targeting financial stability: macroprudential or monetary policy?
... objectives is novel and qualitatively distinct from simply increasing the weight attached to future output gaps . There are two compelling justifications for augmenting the standard loss function in this way. First, in the aftermath of the financial crisis many central banks are mandated to achieve ...
... objectives is novel and qualitatively distinct from simply increasing the weight attached to future output gaps . There are two compelling justifications for augmenting the standard loss function in this way. First, in the aftermath of the financial crisis many central banks are mandated to achieve ...
Optimal Monetary Policy in Open Economies
... the Federal Reserve Bank of New York. We thank Ida Maria Hjiortso and Francesca Viani for excellent research assistance. Financial support by the Pierre Werner Chair Programme at the Robert Schuman Centre of the European University Institute is gratefully acknowledged. The views expressed in this pa ...
... the Federal Reserve Bank of New York. We thank Ida Maria Hjiortso and Francesca Viani for excellent research assistance. Financial support by the Pierre Werner Chair Programme at the Robert Schuman Centre of the European University Institute is gratefully acknowledged. The views expressed in this pa ...
trade and development report, 2011
... 2. Improving transparency in commodity futures exchanges and OTC markets .............................. 138 3. Tighter regulation of financial investors......................................................................................... 140 4. Schemes for dealing with speculative bubbles.... ...
... 2. Improving transparency in commodity futures exchanges and OTC markets .............................. 138 3. Tighter regulation of financial investors......................................................................................... 140 4. Schemes for dealing with speculative bubbles.... ...
An Application of the Stock and Watson Methodology
... Using modern econometric techniques, Stock and Watson (1989) developed a new system of composite indexes of coincident and leading economic indicators, as well as a recession index for the United States. We apply this approach to build coincident and leading economic indexes for the Canadian economy ...
... Using modern econometric techniques, Stock and Watson (1989) developed a new system of composite indexes of coincident and leading economic indicators, as well as a recession index for the United States. We apply this approach to build coincident and leading economic indexes for the Canadian economy ...
Pushing on a string: US monetary policy is less powerful in
... Paola Ganum and Junyi Hou for superb research assistance, and Olivier Coibion for providing his data. This paper was written largely while Thwaites was at LSE and does not represent the views of the Bank of England. ...
... Paola Ganum and Junyi Hou for superb research assistance, and Olivier Coibion for providing his data. This paper was written largely while Thwaites was at LSE and does not represent the views of the Bank of England. ...
Strategic Management
... Creating value by transferring competencies and products to foreign markets where indigenous competitors lack those competencies and products Makes sense if a company has a valuable competence that indigenous competitors in foreign markets lack and if it faces weak pressure for local responsiveness ...
... Creating value by transferring competencies and products to foreign markets where indigenous competitors lack those competencies and products Makes sense if a company has a valuable competence that indigenous competitors in foreign markets lack and if it faces weak pressure for local responsiveness ...
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.