Open Economies Review
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Foreign Transfers and Real Exchange Rate Adjustments in a Financially Constrained Dependent Economy
Open Economies Review - - 2009
This paper investigates the role of the real exchange rate in determining the effects of foreign transfers. If capital is perfectly mobile between sectors, a pure transfer has no long-run impact on the real exchange rate. A decline in the traded sector occurs because the transfer, being denominated in traded output, substitutes for exports in financing imports. While a pure transfer causes short-r...... hiện toàn bộ
Specific Factors and International Monetary Policy Coordination
Open Economies Review - Tập 23 - Trang 319-336 - 2010
The consequences of intersectoral factor immobility for optimal monetary policy are examined in a “New Open Economy Macroeconomics” framework. When labor cannot be reallocated between tradable and nontradable goods production, this rigidity generates a welfare loss, which increases as the sectors become more different. When prices are predetermined, the model becomes a monetary “specific factor” m...... hiện toàn bộ
Does Central Bank Capital Matter for Monetary Policy?
Open Economies Review - Tập 27 - Trang 183-205 - 2015
This paper examines empirically whether central bank capital influences the conduct of monetary policy. To this end, we estimate interest rate rules for a sample of 41 countries and employ linear and non-linear regression methods to test if a measure of central bank financial strength can explain deviations of actual interest rates from those predicted by the estimated interest rate (Taylor-like) ...... hiện toàn bộ
Discretionary Government Consumption, Private Domestic Demand, and Crisis Episodes
Open Economies Review - Tập 24 - Trang 79-100 - 2012
This paper analyzes the dynamic impact of discretionary government consumption purchases on private demand. Using a panel of 132 countries from 1960 to 2008, we find that while discretionary changes in government consumption lead to crowding-in effects in the short run, crowding-out effects take over in the medium run. In addition, we also find that both short-term crowding-in and medium-term crow...... hiện toàn bộ
Introduction to the Special Issue on “Exchange Rates, Financial Integration and Uncertainty”
Open Economies Review - Tập 31 - Trang 213-217 - 2020
Monetary Policy Strategies in Advanced and Emerging Economies
Open Economies Review - - Trang 1-23 - 2024
We investigate the time-series properties of the price level in advanced and emerging economies. We are motivated by the debate of whether central banks should accommodate past inflation shock under inflation targeting or reverse past inflation shock as with price-level targeting or average inflation targeting. We use time series data for G7 and E7 countries and examine the integration properties ...... hiện toàn bộ
The Heterogenous Threshold Effects of Public Debt on Economic Growth: Empirical Evidence from Developing Countries
Open Economies Review -
The International Monetary System
Open Economies Review - Tập 9 - Trang 701-708 - 1998
This paper outlines the main features of the present international monetary system and the challenges that policy makers face.
Euro và Đô la, 1998 Dịch bởi AI
Open Economies Review - Tập 10 - Trang 91-133 - 1999
Không có triển vọng ngay lập tức cho đồng euro trở thành đồng tiền neo ngoài Trung Âu và khu vực Địa Trung Hải. Tuy nhiên, một đồng euro thành công có thể làm sâu sắc hơn các thị trường tài chính châu Âu và thu hút nhiều đầu tư quốc tế hơn vào khu vực đồng euro. Triển vọng về các chuyển biến danh mục đáng kể vào đồng euro, tuy nhiên, không đủ để biện minh cho những dự đoán cho rằng đồng tiền mới n...... hiện toàn bộ
#Euro #Đô la #đầu tư quốc tế #thị trường tài chính châu Âu #thanh khoản.
Optimal Debt? On the Insurance Value of International Debt Flows to Developing Countries
Open Economies Review - - 2008
According to reputation models of sovereign debt, the incentives to repay are proportional to the income insurance benefits provided by the access to international markets. This paper, however, documents that private net lending to developing countries exhibits a procyclical or acyclical pattern, contradicting this premise. By contrast, official debt net flows exhibit a countercyclical patter. In ...... hiện toàn bộ
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