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Transition economy convergence in a two-country model: implications for monetary integration
Bruha, Jan; Podpiera, Jirí - 2007
In this paper we present a two-country dynamic general equilibrium model of ex ante unequally developed countries. The model explains a key feature recently observed in transition economies – the long-run trend real exchange rate appreciation – through investments into quality. Our...
Persistent link: https://www.econbiz.de/10011604786
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The Growth Effects of Current Account Reversals: The Role of Macroeconomic Policies
Mello, Luiz de; Padoan, Pier Carlo; Rousová, Linda - Economics Department, Organisation de Coopération et … - 2011
This paper assesses empirically whether or not current account reversals have permanent growth effects and the role of macroeconomic policies in this process. The methodology developed in de Mello, Padoan and Rousova (2010) to identify a chronology of current account reversals is applied to the...
Persistent link: https://www.econbiz.de/10009131544
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Managing households' expectations with salient economic policies
D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2019 - This version: August 2019
consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …
Persistent link: https://www.econbiz.de/10012057290
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Fiscal Policy and Macroeconomic Imbalances
Baldacci, Emanuele; Gupta, Sanjeev; Mulas-Granados, Carlos - Banca d'Italia - 2014
The volume collects the essays presented at the 15th Workshop on Public Finance organised by Banca d'Italia in Perugia from 4 to 6 April 2013. The workshop focused on the link between fiscal policy and macroeconomic imbalances and comprised four sessions. The first session concentrated on the...
Persistent link: https://www.econbiz.de/10011277938
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Managing Households' Expectations with Salient Economic Policies
D'Acunto, Francesco; Hoang, Daniel; Weber, Michael - 2019
consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead …
Persistent link: https://www.econbiz.de/10012140994
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Global liquidity, world savings glut and global policy coordination
Belke, Ansgar; Gros, Daniel - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10010271353
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A Bird's Eye View of OECD Housing Markets
André, Christophe - Economics Department, Organisation de Coopération et … - 2010
Housing markets have played a prominent role in macroeconomic developments over recent years. For a great part of the 2000s, buoyant housing markets have contributed to sustained economic activity in most OECD countries. But many markets overheated and the collapse of the US subprime mortgage...
Persistent link: https://www.econbiz.de/10008480480
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Global Liquidity, World Savings Glut and Global Policy Coordination
Belke, Ansgar; Gros, Daniel - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2010
The global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both originate in the combination of economic policies adopted by the two key economies, the US and China. Global financial markets served as a transmission belt, both during the boom as during...
Persistent link: https://www.econbiz.de/10008636402
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THE ROLE OF SAVINGS RATE IN DEEPENING MACROECONOMIC IMBALANCES IN CHINA
Mihaela, Sarlea; George, Manta Stefan; Ligia, Vaidean … - In: Annals of Faculty of Economics 1 (2013) 1, pp. 1018-1027
rapid economic growth despite the low level of consumption. If we add here the low demand for imported goods and the growth … country also in the long run. With these internal reforms the savings rate for households will encourage consumption and a …
Persistent link: https://www.econbiz.de/10010685559
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EU Convergence and the Role of External and Internal Stability in Transition Countries
Mandel, Martin; Tomšík, Vladimír - In: Czech Journal of Economics and Finance (Finance a uver) 51 (2001) 6, pp. 376-387
The Maastricht criteria measure the nominal convergence process of transformation countries to the European Union (resp …. the EMU). The real convergence process, as opposed to the nominal, is much less scrutinized. Due to the high income … in nominal convergence due to the widening of their respective external imbalance. …
Persistent link: https://www.econbiz.de/10011075600