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Macroeconomic Policies and Transmission Dynamics in India

Kapur, Muneesh - 2018

Against the backdrop of the move to an inflation targeting monetary policy framework beginning 2014 with consumer price index (CPI) inflation as the nominal anchor, this paper revisits monetary transmission dynamics. Rather than confining to the typical three equation New Keynesian model, this...

Persistent link: https://www.econbiz.de/10015261364

Can we beat the Random Walk? The case of survey-based exchange rate forecasts in Chile

Pincheira, Pablo; Neumann, Federico - 2018

We examine the accuracy of survey-based expectations of the Chilean exchange rate relative to the US dollar. Our out-of-sample analysis reveals that survey-based forecasts outperform the Driftless Random Walk (DRW) in terms of Mean Squared Prediction Error at several forecasting horizons. This...

Persistent link: https://www.econbiz.de/10015262273

Financial liberalization, disaggregated capital flows and banking crisis: Evidence from developing countries

BOUKEF JLASSI, NABILA; HAMDI, HELMI - 2013

The aim of this paper is to examine whether or not financial liberalization has triggered banking crises in developing countries. We focus in particular on the role of capital inflows as their volatilities threat economic stability. In the empirical model, based on Panel Logit estimation, we use...

Persistent link: https://www.econbiz.de/10015242368

Balance sheet effects, foreign reserves and public policies

Cheng, Gong - 2014

Based on a theoretical model, this paper shows that foreign reserves are useful for a country to enhance the resilience of its domestic economy against balance sheet effects in the context of external financing strains. Using foreign reserves, the government can either lend in foreign currency...

Persistent link: https://www.econbiz.de/10015245014

Inflation Targeting, Capital Mobility and Macroeconomic Stability

Dai, Meixing; Sidiropoulos, Moïse - 2003

.e., central bank�s response is aggressive toward inflation) with a high degree of capital mobility implies a dynamically unstable … solution in this simple rational expectations model. In contrast, when central bank adopts a high degree of inflation …-targeting flexibility (accommodative central bank), stability can be ensured under any degree of capital mobility. Finally, under low degree …

Persistent link: https://www.econbiz.de/10015215940

Multiple Reserve Requirements, Exchange Rates, Sudden Stops and Equilibrium Dynamics in a Small Open Economy

Hernandez-Verme, Paula; Wang, Wen-Yao - 2009

nontrivial fiat-currencies demands. Sudden stops/bank-panics are possible, and key for evaluating the merits of alternative ex …

Persistent link: https://www.econbiz.de/10015217851

Capital flows and their implications for central bank policies in Mongolia

Doojav, Gan-Ochir - 2008

This paper examines the evidence on the recent developments in capital flows empirically, the determinants of capital flows, impact of capital flows on monetary and financial variables, and review of policy management of capital flows in Mongolia. The results show that the large capital inflows...

Persistent link: https://www.econbiz.de/10015252290

The impact of the global economic crisis on non-oil operations of ports in Iran

Ahmadzadeh Mashinchi, Sina - 2010

It is generally accepted that the recent economic crisis of 2007-2010 has caused widespread economic recession in different countries. Since the ports and coastal regions are of great importance to economic infrastructure, this study examined the possible impact resulting from such a global...

Persistent link: https://www.econbiz.de/10015231499

The Mean Squared Prediction Error Paradox: A summary

Pincheira, Pablo; Hardy, Nicolas - 2020

This is a summary of the paper entitled : “The Mean Squared Prediction Error Paradox”. In that paper, we show that traditional comparisons of Mean Squared Prediction Error (MSPE) between two competing forecasts may be highly controversial. This is so because when some specific conditions of...

Persistent link: https://www.econbiz.de/10015229363

Macro Stress-Testing Credit Risk in Romanian Banking System

Ruja, Catalin - 2014

This report presents an application of a macro stress testing procedure on credit risk in the Romanian banking system. Macro stress testing, i.e. assessing the vulnerability of financial systems to exceptional but plausible macroeconomic scenarios, maintains a central role in macro-prudential...

Persistent link: https://www.econbiz.de/10015243963