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Argentina has defaulted on its external debt on January, 2002. The country hopes for "fresh money" from the IMF … conditionality can work as a self-enforcing contract and provide positive externalities to Argentina. …
Persistent link: https://www.econbiz.de/10010509332
This paper analyzes the Argentine crisis, compares the macroeconomic development in Argentina, Brazil, Chile and Mexico … current account developments. This implies that structural reforms and monetary stability are more important for Argentina …
Persistent link: https://www.econbiz.de/10011491158
Prognostiziert die Zinsstruktur die Inflation in Deutschland? Dieser Beitrag untersucht die Eignung eines multivariaten Cointegrationsmodells der Zinsstruktur für die Prognose der Inflation und damit für eine an der Inflationsprognose orientierte Geldpolitik. In einem Variablensatz mit zwei...
Persistent link: https://www.econbiz.de/10014524638
The economic forecasts for Germany in the period 2001 to 2003 grossly missed reality. Forecasters estimated an average annual growth rate of 1.6 per cent, but real GDP actually grew by only 0.3 per cent per annum. In 2003 the real GDP in Germany even shrank by 0.1 per cent. Forecasters tend to...
Persistent link: https://www.econbiz.de/10010262887
The economic forecasts for Germany in the period 2001 to 2003 grossly missed reality. Forecasters estimated an average annual growth rate of 1.6 per cent, but real GDP actually grew by only 0.3 per cent per annum. In 2003 the real GDP in Germany even shrank by 0.1 per cent. Forecasters tend to...
Persistent link: https://www.econbiz.de/10005593795
At its 10th anniversary the EMU had to stand the baptism of fire caused by the "Great Recession" 2009. By and large it mastered this test. The introduction of the Euro, however, has brought to light the latent weaknesses in competitiveness of some member states of the Euro area, consisting up to...
Persistent link: https://www.econbiz.de/10011379786
This paper studies the international coordination of monetary policies in the world economy. It carefully discusses the process of policy competition and the structure of policy cooperation. As to policy competition, the focus is on monetary competition between Europe and America. Similarly, as...
Persistent link: https://www.econbiz.de/10010263438
With non-controllable auto-regressive shocks, the welfare of Ramsey optimal policy is the solution of a single Riccati … welfare function. There is no need to simulate impulse response functions over a long period, to compute period loss functions … and to sum their discounted value over this long period, as currently done so far. Welfare is computed for the case of the …
Persistent link: https://www.econbiz.de/10012234806
Die derzeit fragile Lage in der Türkei dürfte sich weiter verschlechtern, wenn die Regierung keine wirtschaftspolitischen Maßnahmen ergreift. Angesichts des Vertrauensverlustes des Auslands steigen die externen Finanzierungskosten, Konsum und Investitionen sinken, die türkische Lira wertet...
Persistent link: https://www.econbiz.de/10011919111
Die derzeit fragile Lage in der Türkei dürfte sich weiter verschlechtern, wenn die Regierung keine wirtschaftspolitischen Maßnahmen ergreift. Angesichts des Vertrauensverlustes des Auslands steigen die externen Finanzierungskosten, Konsum und Investitionen sinken, die türkische Lira wertet...
Persistent link: https://www.econbiz.de/10011899403