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Policy responses to Turkey's crisis : independent central bank and international credit
Kriwoluzky, Alexander; Rieth, Malte - In: DIW weekly report : economy, politics, science : a … 8 (2018) 38/39, pp. 355-363
The presently tenuous situation in Turkey will worsen if the government does not take appropriate policy action. In view of foreign investors’ loss of confidence, the cost of external financing is likely to rise while consumption and investment will fall, and the Turkish lira would depreciate...
Persistent link: https://www.econbiz.de/10011904395
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Postponing Global Adjustment : An Analysis of the Pending Adjustment of Global Imbalances
Truman, Edwin M. - 2005
Halving the US current account deficit as a share of GDP is likely to impose a burden of $2,350 per capita on the United States, which explains why US policymakers want to postpone adjustment. The rest of the world relies on the economic stimulus of a widening US external deficit, which explains...
Persistent link: https://www.econbiz.de/10014063503
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The portfolio theory of inflation and policy (in)effectiveness revisited : corroborating evidence
Bossone, Biagio; Cuccia, Andrea - 2020
This study revisits and tests empirically the Portfolio Theory of Inflation (PTI), which analyzes how the effectiveness of macroeconomic policy in open and globally financially integrated economies is influenced by global investor decisions (Bossone, The portfolio theory of inflation and policy...
Persistent link: https://www.econbiz.de/10012140238
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Minsky, monetary policy, and mint street : challenges for the art of monetary policymaking in emerging economies
Yanamandra, Srinivas - 2014
This paper examines the emerging challenges to the art of monetary policymaking using the case study of the Reserve Bank of India (RBI) in light of developments in the Indian economy during the last decade (2003-04 to 2013-14). The paper uses Hyman P. Minsky's financial instability hypothesis as...
Persistent link: https://www.econbiz.de/10010436173
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Currency wars, not public debt, may create a financial meltdown : conference paper
Pope, Robin; Selten, Reinhard - 2013
In studies concluding that public debt may hamper GDP growth, the debt tipping effects are estimated as if there were a single global currency. This means that such studies ignore the likely biggest cause of changes in growth rates, namely damage from exchange rate liquidity shocks because we do...
Persistent link: https://www.econbiz.de/10010340537
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Public debt tipping point studies ingnore how exchange rate changes may create a financial meltdown
Pope, Robin; Selten, Reinhard - 2011
In studies concluding that public debt may hamper GDP, the debt tipping effects are estimated as if there were a single world currency. This means that such studies ignore the likely biggest cause of changes in growth rates, namely damage from exchange rate liquidity shocks because we do not...
Persistent link: https://www.econbiz.de/10009748247
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Fiscal Dominance, Monetary Policy and Exchange Rates : Lessons from Early-Modern Venice
Masciandaro, Donato; Romelli, Davide; Ugolini, Stefano - 2023
The impact of fiscal dominance on exchange rates has been relatively overlooked by the literature. We focus on an early unique experiment of freely floating State-issued money, implemented in Venice from 1619 to 1666. Building on a new hand-collected database from a previously unused archival...
Persistent link: https://www.econbiz.de/10014353014
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The Rise of the Indian Economy : Fiscal, Monetary and Other Policy Challenges
Basu, Kaushik - 2012
This paper brings analytical economics to bear on some of the central economic policy challenges faced by contemporary India; monetary policy for controlling inflation, central bank exchange rate interventions and fiscal policy for promoting growth. Government, by giving orchestrated guarantees...
Persistent link: https://www.econbiz.de/10013102841
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Can Monetary Policy Create Fiscal Capacity?
Elenev, Vadim; Landvoigt, Tim; Shultz, Patrick; Van … - 2021
Governments around the world have gone on a massive fiscal expansion in response to the Covid crisis, increasing government debt to levels not seen in 75 years. How will this debt be repaid? What role do conventional and unconventional monetary policy play? We investigate debt sustainability in...
Persistent link: https://www.econbiz.de/10013214430
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Foreign exchange controls, fiscal and monetary policy, and the black market premium
Fardmanesh, Mohsen; Douglas, Seymour - 2003
, Guyana, Jamaica and Trinidad, during the 1985-1993 period using cointegration, Granger causality, and reduced form methods … them in Guyana and Trinidad, which unlike Jamaica applied infrequent and large adjustments to their official rates. The … changes in the parallel rate, in the cases of Guyana and Trinidad, reflecting the difference in their official exchange rate …
Persistent link: https://www.econbiz.de/10011609644