Showing 1 - 10 of 13
This paper develops a cost-benefit approach that helps to quantify the optimal level of international reserves in low-income countries, focusing on the role of reserves in preventing and mitigating absorption drops triggered by large external shocks. The approach is applied to a sample of 49...
Persistent link: https://www.econbiz.de/10009369439
This paper creates the first dataset of bilateral remittance flows for a limited set of developing countries and estimates a gravity model for workers' remittances. We find that most of the variation in bilateral remittance flows can be explained by a few gravity variables. The evidence on the...
Persistent link: https://www.econbiz.de/10005768761
effects, limited by the prevalence of oil exports priced in dollars, are more than offset by adverse supply effects. Iran … whether the conventional wisdom still applies to Iran and concludes that the emergence of the non-oil export sector has made …
Persistent link: https://www.econbiz.de/10005768828
Coordinating macroeconomic policies is a pre-requisite to a successful launch of the common currency in the GCC countries. Relying on the Behavioral Equilibrium Exchange Rate approach as a theoretical framework, we apply the Pooled Mean Group methodology to determine the similarity of the impact...
Persistent link: https://www.econbiz.de/10005604912
Beginning in 1985 Italy embarked on a path of progressive removal of its system of controls on portfolio investment, a process formally completed with the abolition of all remaining restrictions in 1990. In this paper we review this policy of capital liberalization and integrate the analysis...
Persistent link: https://www.econbiz.de/10005605151
Over the past decade or so, Tunisia has experienced a strong economic performance while pursuing a constant real exchange rate rule (CRERR). The limitations of this rule are now beginning to emerge in the context of a more open economy, regional integration, a more market-based monetary policy,...
Persistent link: https://www.econbiz.de/10005826081
This paper analyzes Zimbabwe's export performance in recent years and identifies the factors that could improve export performance, from both a quantitative and qualitative perspective. Improving export performance is critical to a turnaround in Zimbabwe's economic situation. The growth rate of...
Persistent link: https://www.econbiz.de/10005826121
Exchange rate flexibility has facilitated an impressively fast insertion of the Czech koruna and the Polish zloty into the global currency market. However, exchange rate volatility patterns differ: Lower volatility is observed for the koruna against the euro relative to the U.S. dollar, while...
Persistent link: https://www.econbiz.de/10005826189
Myanmar's multiple exchange rate system creates various economic distortions. This paper describes the exchange rate practices in Myanmar, develops a model of foreign exchange markets, and presents the efficiency costs imposed by quasi-fiscal operation under the current exchange rate regime. The...
Persistent link: https://www.econbiz.de/10005263840
This paper provides a brief overview of the evolution of exchange rate policy in the Islamic Republic of Iran from 1993 …
Persistent link: https://www.econbiz.de/10005599261