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... What are the basic principles underlying the design of optimal monetary policies among open and interdependent economies? From the recent policy and academic debate, it is far from obvious that monetary policy should have any ‘international’ dimension at all. In fact, there is little or no consensus ...
... What are the basic principles underlying the design of optimal monetary policies among open and interdependent economies? From the recent policy and academic debate, it is far from obvious that monetary policy should have any ‘international’ dimension at all. In fact, there is little or no consensus ...
research paper series Research Paper 2010/03
... The conceptual framework that made this breakthrough possible was the monopolistic competition model of Lancaster (1979), Spence (1976) and Dixit and Stiglitz (1977). By allowing to study imperfect competition in a tractable general equilibrium framework, this model has naturally become the workhors ...
... The conceptual framework that made this breakthrough possible was the monopolistic competition model of Lancaster (1979), Spence (1976) and Dixit and Stiglitz (1977). By allowing to study imperfect competition in a tractable general equilibrium framework, this model has naturally become the workhors ...
NBER WORKING PAPER SERIES INTERNATIONAL TRADE AND MACROECONOMIC DYNAMICS WITH HETEROGENEOUS FIRMS
... goods and their terms of trade. As previously mentioned, these changes occur within sectors and generate persistent deviations in sector-level prices. Although we do not explicitly model multiple sectors, our framework nevertheless highlights the micro-level characteristics of sectors (the level of ...
... goods and their terms of trade. As previously mentioned, these changes occur within sectors and generate persistent deviations in sector-level prices. Although we do not explicitly model multiple sectors, our framework nevertheless highlights the micro-level characteristics of sectors (the level of ...
How Does the Flow of Remittances Affect the Trade
... Ali, 2011). It also results in economic instability and the stagnation of domestic economy production capabilities (Chaudhary and Qaisrani, 2002). The import-triggering effects of remittances (the boomerang effect) have been observed in Latin America and Sub-Saharan Africa (Organisation for Economi ...
... Ali, 2011). It also results in economic instability and the stagnation of domestic economy production capabilities (Chaudhary and Qaisrani, 2002). The import-triggering effects of remittances (the boomerang effect) have been observed in Latin America and Sub-Saharan Africa (Organisation for Economi ...
09_chapter 1
... Mr. Jack Welch, the CEO of GE told in 1994 that “Globalisation must be taken for granted. There will be only one standard for corporate success, international market share. The Winning Corporations will win by finding markets all over the world”. Since this statement is made, we have seen in the las ...
... Mr. Jack Welch, the CEO of GE told in 1994 that “Globalisation must be taken for granted. There will be only one standard for corporate success, international market share. The Winning Corporations will win by finding markets all over the world”. Since this statement is made, we have seen in the las ...
Demand Imbalances, Exchange Rate Misalignment and Monetary Policy
... lighting the forward-looking nature of exchange rate determination.5 With a complete set of Arrow-Debreu securities – the case studied by DE – goods price stabilization, the same monetary policy that would be optimal in the face of standard, unanticipated technology shocks, is also optimal in respo ...
... lighting the forward-looking nature of exchange rate determination.5 With a complete set of Arrow-Debreu securities – the case studied by DE – goods price stabilization, the same monetary policy that would be optimal in the face of standard, unanticipated technology shocks, is also optimal in respo ...
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... somewhat “weaker” form of the dollar’s international role as a monetary anchor. Because prices of tradable goods and services, virtually all primary products and most manufactures (except for exports from industrial Europe) are set in dollars in international markets, central banks in emerging marke ...
... somewhat “weaker” form of the dollar’s international role as a monetary anchor. Because prices of tradable goods and services, virtually all primary products and most manufactures (except for exports from industrial Europe) are set in dollars in international markets, central banks in emerging marke ...
Trade Integration, Competition, and the Decline in
... that real import prices and the real exchange rate in the 1980-2004 period have tended to move closely together, although movements in import prices tend to be dampened relative to the exchange rate. This series also suggests that in the 1990s movements in relative import prices have become more dis ...
... that real import prices and the real exchange rate in the 1980-2004 period have tended to move closely together, although movements in import prices tend to be dampened relative to the exchange rate. This series also suggests that in the 1990s movements in relative import prices have become more dis ...
NBER WORKING PAPER SERIES AT THE CENTRAL BANK: LESSONS FROM SUDAN
... The ineffectiveness of real devaluation as stabilization policy does not imply that the nominal exchange rate should be held constant in the face of a domestic inflation. tn this circumstance, import duties and export subsidies would have to be escalated to counter the potential erosion of the trade ...
... The ineffectiveness of real devaluation as stabilization policy does not imply that the nominal exchange rate should be held constant in the face of a domestic inflation. tn this circumstance, import duties and export subsidies would have to be escalated to counter the potential erosion of the trade ...
How Does a Depreciation in the Exchange Rate Affect Trade
... between the exchange rate and the trade balance both in the short-run and the long-run. The data used in this thesis cover 39 countries and their quarterly changes in exchange rate between 1982 and 2005. The largest depreciation for each country during these years was detected and is the base for th ...
... between the exchange rate and the trade balance both in the short-run and the long-run. The data used in this thesis cover 39 countries and their quarterly changes in exchange rate between 1982 and 2005. The largest depreciation for each country during these years was detected and is the base for th ...
Developing Destination Marketing Strategy for Success (The
... Tourism is a fragmented industry that consists of many small organizations with a characteristic feature that none of the organizations holds a significant market share. In such a market, there is no leader who would fundamentally set the rules of competition. An industry can become consolidated thr ...
... Tourism is a fragmented industry that consists of many small organizations with a characteristic feature that none of the organizations holds a significant market share. In such a market, there is no leader who would fundamentally set the rules of competition. An industry can become consolidated thr ...
AN EMPIRICAL EXAMINATION OF THE STRUCTURAL TURKEY
... balance of payment problems. The major change in this context started in 1983 with the removal of quantitative restrictions on a large proportion of import items along with reductions in tariff rates. Changes in the direction of domestic financial liberalization started in July 1980 and removed cont ...
... balance of payment problems. The major change in this context started in 1983 with the removal of quantitative restrictions on a large proportion of import items along with reductions in tariff rates. Changes in the direction of domestic financial liberalization started in July 1980 and removed cont ...
On The International Transmission Of Productivity Shocks
... An attractive proposal to reconcile standard international business cycle models with the empirical evidence of lack of risk sharing comes from a recent line of research: Corsetti, Dedola and Leduc (Corsetti et al. (2006), Corsetti et al. (2008)) suggest that under some key hypotheses the traditiona ...
... An attractive proposal to reconcile standard international business cycle models with the empirical evidence of lack of risk sharing comes from a recent line of research: Corsetti, Dedola and Leduc (Corsetti et al. (2006), Corsetti et al. (2008)) suggest that under some key hypotheses the traditiona ...
This PDF is a selection from a published volume from... National Bureau of Economic Research
... therefore on demand, which apparently have been important features of current data.3 Incorporating different price indexes changes the estimated income elasticities in the workhorse model. In a narrow investigation, Feenstra’s (1994) detailed work on prices of six narrowly defined manufacturing goods ...
... therefore on demand, which apparently have been important features of current data.3 Incorporating different price indexes changes the estimated income elasticities in the workhorse model. In a narrow investigation, Feenstra’s (1994) detailed work on prices of six narrowly defined manufacturing goods ...
Globalization, Product Differentiation and Wage Inequality
... optimally decide how much to invest in product innovation, taking into account that this process requires skilled labor. We also deviate from the standard framework by assuming that some industries are open to trade while others are shielded from international competition. Aggregation across sectors ...
... optimally decide how much to invest in product innovation, taking into account that this process requires skilled labor. We also deviate from the standard framework by assuming that some industries are open to trade while others are shielded from international competition. Aggregation across sectors ...
C ThE ECONOMiCS OF SUBSiDiES
... may face difficult administrative hurdles in collecting revenue to be disbursed as subsidies. Similarly, identifying recipients of subsidies and implementing subsidy programmes are also not without their costs. Taken together, however, if the assumption of zero-cost subsidy collection and disburseme ...
... may face difficult administrative hurdles in collecting revenue to be disbursed as subsidies. Similarly, identifying recipients of subsidies and implementing subsidy programmes are also not without their costs. Taken together, however, if the assumption of zero-cost subsidy collection and disburseme ...
The International Role of the Dollar and Trade Balance
... which is the case when exchange-rate pass through into prices is very low, expenditure-switching does not occur in the home market. A domestic currency depreciation does not lead to much of a decline in import quantities. At the same time a depreciation of the dollar raises quantities of U.S. export ...
... which is the case when exchange-rate pass through into prices is very low, expenditure-switching does not occur in the home market. A domestic currency depreciation does not lead to much of a decline in import quantities. At the same time a depreciation of the dollar raises quantities of U.S. export ...
2017-20 Economic Development and Trade Business Plan (March
... of opportunities that will grow and diversify our economy Alberta is acting to make the most of the economic capacity that has been made available due to the recent slowdown. Economic Development and Trade is supporting economic growth by focusing its efforts on stabilizing and diversifying Alberta’ ...
... of opportunities that will grow and diversify our economy Alberta is acting to make the most of the economic capacity that has been made available due to the recent slowdown. Economic Development and Trade is supporting economic growth by focusing its efforts on stabilizing and diversifying Alberta’ ...
Trade Amendment Explanatory Note
... Elimination of Quantitative Restrictions: Governments may not keep any numerical restrictions (e.g. quotas, contingents, rationing) on imports or exports. They may still retain customs duties (as long as they are below the maximum level agreed in their WTO commitments) and qualitative product regula ...
... Elimination of Quantitative Restrictions: Governments may not keep any numerical restrictions (e.g. quotas, contingents, rationing) on imports or exports. They may still retain customs duties (as long as they are below the maximum level agreed in their WTO commitments) and qualitative product regula ...
US-Africa AGOA Trade Program
... • It aims to support export-led economic growth and structural diversification along with deeper US/Africa trade and investment links • Products qualifying under AGOA cover 20,000 individual tariff lines within the US Tariff Structure – almost 2,000 more than under the GSP • The expansion of duty-fr ...
... • It aims to support export-led economic growth and structural diversification along with deeper US/Africa trade and investment links • Products qualifying under AGOA cover 20,000 individual tariff lines within the US Tariff Structure – almost 2,000 more than under the GSP • The expansion of duty-fr ...
Measuring the Impacts of Trade Policies: Effective Rates of
... protection of goods which are a firm’s inputs raises production costs and so provides negative effective protection to exports. The only way around this is to eliminate protection of inputs altogether, or to provide special provisions whereby goods used as inputs by exporters are free of the cost-ra ...
... protection of goods which are a firm’s inputs raises production costs and so provides negative effective protection to exports. The only way around this is to eliminate protection of inputs altogether, or to provide special provisions whereby goods used as inputs by exporters are free of the cost-ra ...
Chapter 02 The Dynamic Environment of International Trade
... 50. Randall Smithe-Jones believes that protectionism is the only way to save the United Kingdom from outside competitors. He has seen small business after small business go bankrupt because cheaper foreign goods have been more popular. The UK has just started a cell-phone manufacturing industry and ...
... 50. Randall Smithe-Jones believes that protectionism is the only way to save the United Kingdom from outside competitors. He has seen small business after small business go bankrupt because cheaper foreign goods have been more popular. The UK has just started a cell-phone manufacturing industry and ...
The Language and Benefits of Trade
... • Exports also support higher-paying jobs. Positions in the manufacturing sector linked to the export of goods pay on average 18 percent more than other jobs. • Trade agreements are essential to creating economic and strategic benefits for the United States. The Uruguay Round of multilateral trade n ...
... • Exports also support higher-paying jobs. Positions in the manufacturing sector linked to the export of goods pay on average 18 percent more than other jobs. • Trade agreements are essential to creating economic and strategic benefits for the United States. The Uruguay Round of multilateral trade n ...
Productivity Spillovers, Terms of Trade and the `Home Market Effect`
... A common view in trade and growth theory is that the increased supply of products by a fast-growing economy must be absorbed by international markets at falling prices, causing a deterioration of its terms of trade. The e¤ects of productivity gains are then transmitted positively to the country’s tr ...
... A common view in trade and growth theory is that the increased supply of products by a fast-growing economy must be absorbed by international markets at falling prices, causing a deterioration of its terms of trade. The e¤ects of productivity gains are then transmitted positively to the country’s tr ...
Global Imbalances: The Role of Non-Tradable Total Factor
... with the United States running persistent deficits, and Japan and the euro area first, and later emerging Asia and oil-exporting countries, running surpluses (Figure 1). Today, the United States absorbs the majority of the world’s current account surpluses, and net U.S. liabilities remain at record- ...
... with the United States running persistent deficits, and Japan and the euro area first, and later emerging Asia and oil-exporting countries, running surpluses (Figure 1). Today, the United States absorbs the majority of the world’s current account surpluses, and net U.S. liabilities remain at record- ...