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Inflation Targeting and Inflation Persistence in Asia

Gerlach, Stefan; Tillmann, Peter - C.E.P.R. Discussion Papers - 2010

Following the Asian financial crisis in 1997-98, a number of Asian central banks adopted inflation targeting. We explore how successful this framework has been by looking at the persistence of inflation, as measured by the sum of the coefficients in an autoregressive model for inflation, using a...

Persistent link: https://www.econbiz.de/10008684680

Geography and the Determinants of Firm Exports in Indonesia

Farole, Thomas; Rodriguez-Pose, Andres; Tselios, Vassilis; … - C.E.P.R. Discussion Papers - 2013

This paper uses data from the Indonesian manufacturing census in order to uncover the determinants of firm exports over the period 1990-2005. We examine to what extent differences in firm export propensity and intensity are a consequence of firm-level (microeconomic), of place-based...

Persistent link: https://www.econbiz.de/10011084523

Prospective Deficits and the Asian Currency Crises

Burnside, Craig; Eichenbaum, Martin; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 1998

This paper argues that the recent Southeast Asian currency crises was caused by large prospective deficits associated with implicit bailout guarantees to failing banking systems. We articulate this view using a simple dynamic general equilibrium model whose key feature is that a speculative...

Persistent link: https://www.econbiz.de/10005124184

Chinese Currency Controversies

Eichengreen, Barry - C.E.P.R. Discussion Papers - 2004

This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float would be in the country’s own interest; it would help the...

Persistent link: https://www.econbiz.de/10005067647

The Early Modern Great Divergence: Wages, Prices and Economic Development in Europe and Asia, 1500-1800

Broadberry, Stephen N; Gupta, Bishnupriya - C.E.P.R. Discussion Papers - 2005

Contrary to the claims of Pomeranz, Parthasarathi and other ‘world historians’, the prosperous parts of Asia between …. The ‘Great Divergence’ between Europe and Asia was already well underway before 1800. …

Persistent link: https://www.econbiz.de/10005666692

Institutions, Volatility and Investment

Besley, Timothy J.; Mueller, Hannes Felix - C.E.P.R. Discussion Papers - 2015

Countries with strong executive constraints have lower growth volatility but similar average growth to those with weak … in inflows when strong executive constraints are adopted in terms of the reduction in the volatility in productivity …

Persistent link: https://www.econbiz.de/10011145416

The Fundamental Surplus in Matching Models

Ljungqvist, Lars; Sargent, Thomas J - C.E.P.R. Discussion Papers - 2015

To generate big responses of unemployment to productivity changes, researchers have reconfigured matching models in various ways: by elevating the utility of leisure, by making wages sticky, by assuming alternating-offer wage bargaining, by introducing costly acquisition of credit, or by...

Persistent link: https://www.econbiz.de/10011201357

Carry Trades and Global Foreign Exchange Volatility

Menkhoff, Lukas; Sarno, Lucio; Schmeling, Maik; … - C.E.P.R. Discussion Papers - 2011

We investigate the relation between global foreign exchange (FX) volatility risk and the cross-section of excess … FX volatility and thus deliver low returns in times of unexpected high volatility, when low interest rate currencies … provide a hedge by yielding positive returns. Our proxy for global FX volatility risk captures more than 90% of the cross …

Persistent link: https://www.econbiz.de/10008867494

Leverage as a Predictor for Real Activity and Volatility

Kollmann, Robert; Zeugner, Stefan - C.E.P.R. Discussion Papers - 2011

positively linked to the conditional volatility of future real activity and of equity returns. The joint information in sectoral …

Persistent link: https://www.econbiz.de/10008915810

Natural resource wealth: the challenge of managing a windfall

van der Ploeg, Frederick; Venables, Anthony J - C.E.P.R. Discussion Papers - 2011

volatility of revenues, have failed to save a sufficiently high proportion of their resource revenues and failed to make high …

Persistent link: https://www.econbiz.de/10009385762

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