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Real effective exchange rate imbalances and macroeconomic adjustments : evidence from the CEMAC zone
Asongu, Simplice A. - 2014
We assess the behavior of real effective exchange rates (REERs) of members of the CEMAC zone with respect to their long-term equilibrium paths. A reduced form of the fundamental equilibrium exchange rate (FEER) model is estimated and associated misalignments are derived for the period 1980 to...
Persistent link: https://www.econbiz.de/10011409240
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Macroeconomic effects of China's financial policies
Chen, Kaiji; Zha, Tao - 2018
analysis. The stylized facts differ qualitatively across different phases or economies. We argue that the impacts of China …
Persistent link: https://www.econbiz.de/10011928237
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Fiscal stabilization in the United States : lessons for monetary unions
Nikolov, Plamen; Pasimeni, Paolo - 2019
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...
Persistent link: https://www.econbiz.de/10011999069
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The influence of oil price shocks on China's macro-economy : a perspective of international trade
Shiyi, Chen; Chen, Dengke; Härdle, Wolfgang - 2014
International trade has been playing an extremely significant role in China over the last 20 years. This paper is aimed … at investigating and understanding the relationship between China's macro-economy and oil price fromthis newperspective …. We find strong evidence to suggest that the increase of China's price level, resulting fromoil price shocks, is …
Persistent link: https://www.econbiz.de/10010418872
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Impacts of the global financial crisis on small and medium enterprises in the People’s Republic of China
Xiangfeng, Liu - 2009
China's (PRC's) small and medium enterprises (SMEs). It also provides relevant policy suggestions at the end. First, this …
Persistent link: https://www.econbiz.de/10003928006
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The impact of the global financial crisis on business cycles in Asian emerging economies
Fidrmuc, Jarko; Korhonen, Iikka - 2009
We analyze the transmission of global financial crisis to business cycles in China and India. The pattern of business …
Persistent link: https://www.econbiz.de/10003861779
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Chinese foreign exchange reserves, policy choices and the U.S. economy
Neely, Christopher J. - 2017
China is both a major trading partner of the United States and the largest official holder of U.S. assets in the world … article explains the reasons for this large decline in official assets, what China's policy choices are, and how these choices …
Persistent link: https://www.econbiz.de/10011586659
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Hot money flows, commodity price cycles, and financial repression in the US and the People's Republic of China : the consequences of near zero US interest rates
McKinnon, Ronald I.; Liu, Zhao - 2013
People's Republic of China (PRC) is forced to keep its interest rates below market-clearing levels, it also suffers from …
Persistent link: https://www.econbiz.de/10009696939
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The macroeconomic impacts of Chinese currency appreciation on China and the rest of world : a global computable general equilibrium analysis
Yang, Jun; Zhang, Wei; Tokgoz, Simla - 2012
Persistent link: https://www.econbiz.de/10009573020
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Sovereign risk, bank funding and investors' pessimism
Faia, Ester - 2016 - This draft: September 2016
Data show that sovereign risk reduces liquidity, increases funding cost and risk of banks highly exposed to it. I build a model that rationalizes this fact. Banks act as delegated monitors and invest in risky projects and in risky sovereign bonds. As investors hear rumors of increased sovereign...
Persistent link: https://www.econbiz.de/10011541421