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China and global rebalancing: A two-country approach
Bénassy-Quéré, Agnès; Carton, Benjamin; Gauvin, Ludovic - In: China Economic Review 26 (2013) C, pp. 118-139
show that an overhaul of China's social safety net is capable of reducing global imbalances whatever the exchange …
Persistent link: https://www.econbiz.de/10010875336
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What expenditure does Anglosphere foreign borrowing fund?
Makin, Anthony J.; Narayan, Paresh Kumar; Narayan, Seema - In: Journal of International Money and Finance 40 (2014) C, pp. 63-78
This paper examines the extent to which foreign borrowing funds private investment, consumption and government expenditure in the United States, the United Kingdom, Australia, and New Zealand (the Anglosphere), advanced economies which have been the world's largest international borrowers since...
Persistent link: https://www.econbiz.de/10010869434
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What Drives the Exchange Rate?
Itskhoki, Oleg; Mukhin, Dmitry - National Bureau of Economic Research - 2023
We use a general open-economy wedge-accounting framework to characterize the set of shocks that can account for major exchange rate puzzles. Focusing on a near-autarky behavior of the economy, we show analytically that all standard macroeconomic shocks -- including productivity, monetary,...
Persistent link: https://www.econbiz.de/10014447328
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Informal Employment and Business Cycles in Emerging Economies: The Case of Mexico
Fernandez, Andres; Meza, Felipe - In: Review of Economic Dynamics 18 (2015) 2, pp. 381-405
We document how informal employment in Mexico is countercyclical, lags the cycle and is negatively correlated to formal employment. This contributes to explaining why total employment in Mexico displays low cyclicality and variability over the business cycle when compared to Canada, a developed...
Persistent link: https://www.econbiz.de/10011268100
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Fiscal Procyclicality in Commodity Exporting Countries : How Much Does it Pour and Why?
Arroyo Marioli, Francisco; Végh, Carlos A. - National Bureau of Economic Research - 2023
A large literature has documented that fiscal policy is procyclical in emerging markets and developing economies and acyclical/countercyclical in advanced economies. This paper analyzes fiscal procyclicality in commodity-exporting countries. It first shows that the degree of fiscal...
Persistent link: https://www.econbiz.de/10014322818
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Taylor rules and exchange rate predictability in emerging economies
Galimberti, Jaqueson K.; Moura, Marcelo L. - In: Journal of International Money and Finance 32 (2013) C, pp. 1008-1031
This study demonstrates the relationship between exchange rate determination and an endogenous monetary policy represented by Taylor rules. We fill a gap in the literature by focusing on a group of fifteen emerging economies that adopted free-floating exchange rates and inflation targeting...
Persistent link: https://www.econbiz.de/10010594691
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Rising China, anxious Asia? A Bayesian New Keynesian view
Wong, Chin-Yoong; Eng, Yoke-Kee; Habibullah, Muzafar Shah - In: China Economic Review 28 (2014) C, pp. 90-106
Should Asia feel anxious about China's expansion? We look for the answer through the Bayesian estimation of a two …-country New Keynesian model of production fragmentation covering ten Asian economies, including China. The estimates show that vis …-à-vis China, the developed Asia has a more fragmented production structure with higher domestic value-added embodied in …
Persistent link: https://www.econbiz.de/10011065767
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US Long Term Interest Rates and Capital Flows to Emerging Economies
Olaberria, Eduardo - Economics Department, Organisation de Coopération et … - 2014
Following Chairman Ben Bernanke’s comments before Congress that the FOMC may ‘take a step down in the pace of asset purchases if economic improvement appears to be sustained’, US 10-year interest rates picked up sharply and gross capital flows to emerging market economies (EMEs) reversed....
Persistent link: https://www.econbiz.de/10011276981
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Chapter 12. International Financial Crises
Lorenzoni, Guido - In: Handbook of international economics : Volume 4, (pp. 689-740). 2014
This chapter surveys recent research on international financial crises. A financial crisis is characterized by a sudden, dramatic outflow of financial resources from an economy with an open capital account. This outflow may be primarily driven by the expectation of a large nominal devaluation,...
Persistent link: https://www.econbiz.de/10014025374
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US long term interest rates and capital flows to emerging economies
Olaberria, Eduardo - 2014
Following Chairman Ben Bernanke’s comments before Congress that the FOMC may ‘take a step down in the pace of asset purchases if economic improvement appears to be sustained’, US 10-year interest rates picked up sharply and gross capital flows to emerging market economies (EMEs) reversed....
Persistent link: https://www.econbiz.de/10010464962