Showing 1 - 10 of 23,349
This paper uses the simple geometry of the classic, open-economy trilemma to introduce a new gauge of the stability of … fixity, financial openness, and monetary sovereignty. So, the new gauge is bounded and correspondingly non-Gaussian. We use … the new stability gauge in nonlinear panel estimates to examine the post-Bretton Woods period, and we find that trilemma …
Persistent link: https://www.econbiz.de/10010729791
This paper surveys the foreign exchange markets, money and secondary government security markets, and stock exchanges in 107 smaller economy countries. The underdevelopment of these markets impedes risk transfer, monetary policy, corporate financing, and the capacity to absorb capital inflows....
Persistent link: https://www.econbiz.de/10011245902
Persistent link: https://www.econbiz.de/10004755590
, quantifying for Argentina where possible. Potential advantages include lower borrowing costs and deeper integration into world …
Persistent link: https://www.econbiz.de/10005605277
Most developing countries have imposed restrictions on domestic and international financial transactions at one time or another. Such restrictions have allowed governments to generate significant proportions of their revenues from financial repression while restraining inflation. The eventual...
Persistent link: https://www.econbiz.de/10005826206
Persistent link: https://www.econbiz.de/10004060988
Assessments of exchange rate misalignments and external imbalances for low-income countries are challenging because methodologies developed for advanced and emerging economies cannot be automatically applied to poorer nations. This paper uses a large database, unique in the set of indicators and...
Persistent link: https://www.econbiz.de/10010790491
This paper examines whether decisions about the appropriate exchange rate regime in six Central American countries were based on longer-run economic fundamentals or on the confluence of historical and political circumstances. To uncover any actual relationship both across countries and across...
Persistent link: https://www.econbiz.de/10005769047
The experiences of Caribbean Economic Community countries show that exchange rate depreciation in these countries is inflationary, and that, while changes in the relative prices of tradables may affect exports, tourism, and imports, nominal exchange rate changes have no predictable effect on...
Persistent link: https://www.econbiz.de/10005599271