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Agency and Communication in IMF Conditional Lending: Theory and Empirical Evidence

Marchesi, Silvia; Sabani, Laura; Dreher, Axel - Institute for the Study of Labor (IZA) - 2009

We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...

Persistent link: https://www.econbiz.de/10005703398

Current Account Imbalances and Structural Adjustment in the Euro Area: How to Rebalance Competitiveness

Zemanek, Holger; Belke, Ansgar; Schnabl, Gunther - Institute for the Study of Labor (IZA) - 2009

Low international competitiveness of a set of euro area countries, which have become evident by large current account deficits and rising risk premiums on government bonds, is one of the most challenging economic policy issues for Europe. We analyse the role of private restructuring and public...

Persistent link: https://www.econbiz.de/10008632737

Der Euro als Jobmaschine? Zu den Auswirkungen des Euro auf den deutschen Arbeitsmarkt

Franz, Wolfgang - Institute for the Study of Labor (IZA) - 1998

This paper analyzes the potential advantages and disadvantages of the introduction of the common European currency for the German labor market. First, experiences of the German currency union of 1990 cannot be transferred to the European case. Second, the loss of the instrument of nominal...

Persistent link: https://www.econbiz.de/10005566768

The Role of the Exchange Rate Regime in the Process of Real and Nominal Convergence

D'Adamo, Gaetano; Rovelli, Riccardo - Institute for the Study of Labor (IZA) - 2013

During the last decade, economists have intensively searched for evidence on the importance of the Balassa-Samuelson (B-S) hypothesis in explaining nominal convergence. One general result is that B-S can at best explain only part of the excess inflation observed in the European catching-up...

Persistent link: https://www.econbiz.de/10011128045

Purchasing Power Parity for Developing and Developed Countries: What Can We Learn from Non-Stationary Panel Data Models?

Drine, Imed; Rault, Christophe - Institute for the Study of Labor (IZA) - 2007

The aim of this paper is to apply recently developed panel cointegration techniques proposed by Pedroni (1999, 2004) and generalized by Banerjee and Carrion-i-Silvestre (2006) to examine the robustness of the PPP concept for a sample of 80 developed and developing countries. We find that strong...

Persistent link: https://www.econbiz.de/10005761840

International Financial Integration and Real Exchange Rate Long-Run Dynamics in Emerging Countries: Some Panel Evidence

Caporale, Guglielmo Maria; Hadj Amor, Thouraya; Rault, … - Institute for the Study of Labor (IZA) - 2009

The aim of this paper is to provide new empirical evidence on the impact of international financial integration on the long-run Real Exchange Rate (RER) in 39 developing countries belonging to three different geographical regions (Latin America, Asia and MENA). It covers the period 1979-2004,...

Persistent link: https://www.econbiz.de/10005762383

Exchange Rate Volatility Effects on the German Labour Market: A Survey of Recent Results and Extensions

Buscher, Herbert S.; Mueller, Claudia - Institute for the Study of Labor (IZA) - 1999

In this paper, a survey on theoretically expected and empirically proved impacts of exchange rate volatility is given. With regard to the West German unemployment, the effects of volatility are empirically analyzed using three different volatility measures and four country groups. In...

Persistent link: https://www.econbiz.de/10005566669

Income Mobility of Individuals in China and the United States

Khor, Niny; Pencavel, John - Institute for the Study of Labor (IZA) - 2006

Though much has been written about annual income inequality in China, little research has been conducted on longer run … measures of income inequality and on income mobility. This paper compares income mobility of urban individuals in China and the … misleading indicators of long-run income inequality? How much income mobility was there in China in the first half of the 1990s …

Persistent link: https://www.econbiz.de/10005703814

Recovery Performance of Primary Agriculture Credit Societies in India: An Assessment

Mazumder, Rabin; Chakravarty, Chandrasekhar; Bhandari, … - Institute for the Study of Labor (IZA) - 2014

Agricultural credit is one of the most crucial inputs in all agricultural development programmes. Access of rural … credit has still remained scarce in India. Primary Agriculture Credit Societies (PACS) working at grass-root level, having … institution. The present study examines the recovery performance of rural credit given by PACS in six different regions of India …

Persistent link: https://www.econbiz.de/10011100176

Seasonal Credit Constraints and Agricultural Labor Supply: Evidence from Zambia

Fink, Günther; Jack, Kelsey; Masiye, Felix - Institute for the Study of Labor (IZA) - 2014

' inability to cover short-term consumption needs with savings or credit. We conduct a field experiment in rural Zambia to … investigate the relationship between credit availability and rural labor supply. We find that providing households with access to … credit during the growing season substantially alters the allocation of household labor, with households in villages randomly …

Persistent link: https://www.econbiz.de/10011094086