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Inequality, the price of nontradables, and the real exchange rate : theory and cross-country evidence

Min, Hong-Ghi - Economics Research, World Bank Group - 2002

The author provides theoretical and empirical evidence of a negative association between income inequality and real … exchange rates. First, he builds a theoretical model showing the transmission mechanism from inequality to real exchange rates … negative relationship between inequality and real exchange rates does not imply that policies aimed at dramatic redistribution …

Persistent link: https://www.econbiz.de/10005079501

Public investment and economic growth in Mexico

Lachler, Ulrich; Aschauer, David Alan - Economics Research, World Bank Group - 1998

Mexico's growth rate began to plummet at roughly the same time that its public investment expenditures declined. That decline also appears to coincide with a slowdown in the growth of infrastructure capital in the electricity, transport, and communications sectors. Because of these parallel...

Persistent link: https://www.econbiz.de/10005030428

Can the distributional impacts of macroeconomic shocks be predicted? A comparison of the performance of macro-micro models with historical data for Brazil

Ferreira, Francisco H. G.; Leite, Phillippe G.; Pereira … - Economics Research, World Bank Group - 2004

What was the impact of Brazil's 1998-99 currency crisis-which resulted in a change of exchange rate regime and a large real devaluation-on the occupational structure of the labor force and the distribution of incomes? Would it have been possible to predict such effects ahead of the crisis? The...

Persistent link: https://www.econbiz.de/10005134168

How can Indonesia maintain creditworthiness and noninflationary growth ?

Ahmed, Sadiq; Chhibber, Ajay - Economics Research, World Bank Group - 1989

Despite external shocks, Indonesia has maintained creditworthiness through swift adjustment. Indonesia's flexible economic management and clear policy signals have lent stability to the economy, in contrast to the stop and go reforms, uncertainty, and constant debt renegotiations in many high...

Persistent link: https://www.econbiz.de/10004989714

Capital flows and long-term equilibrium real exchange rates in Chile

Elbadawi, Ibrahim A.; Soto, Raimundo - Economics Research, World Bank Group - 1994

In the context of an empirical model, the authors examine the impact of capital flows, among other fundamentals, on long-term exchange rates in Chile. The real exchange rate and its fundamentals were found to be cointegrated during 1960-92. This cointegration allows a reinterpretation of...

Persistent link: https://www.econbiz.de/10004989749

The 1994 currency crisis in Turkey

Celasun, Oya - Economics Research, World Bank Group - 1998

As a result of Turkey's currency crisis in 1994, output fell 6 percent, inflation rose to three-digit levels, the Central Bank lost half of its reserves, and the exchange rate (against the US dollar) depreciated by more than half in the first three months of the year. The author presents...

Persistent link: https://www.econbiz.de/10004989752

Chile's experience with stabilization, revisited

Corbo, Vittorio; Solimano, Andres - Economics Research, World Bank Group - 1991

This paper evaluates Chile's stabilization policies since the early 1970s. Four episodes are examined: (a) the high inflation at the beginning of the military regime when inflation was close to 1000 percent per year; (b) the orthodox stabilization program of 1975; (c) the exchange rate-based...

Persistent link: https://www.econbiz.de/10004989910

Is there room for foreign exchange interventions under an inflation targeting framework ? Evidence from Mexico and Turkey

Domac, Ilker; Mendoza, Alfonso - Economics Research, World Bank Group - 2004

The salient characteristics of emerging market economies coupled with the increasing adoption of inflation targeting in these countries has stimulated much debate about the role of the exchange rate in inflation targeting regimes. The authors aim at shedding more light on this issue by...

Persistent link: https://www.econbiz.de/10005106883

Exchange rate appreciations, labor market rigidities, and informality

Fugazza, Marco; Fiess, Norbert M.; Maloney, William - Economics Research, World Bank Group - 2002

This paper works at the interface of the literature exploring the raison d'etre of the informal labor market and that explaining the real exchange rate appreciations occurring in many Latin American countries during periods of reform. The authors first build a small country-Australian style...

Persistent link: https://www.econbiz.de/10005106909

The macroeconomics of the public sector deficit : the case of Colombia

Easterly, William - Economics Research, World Bank Group - 1991

The management of fiscal deficits and their financing in Colombia has been generally sound. This paper shows how episodes of loose fiscal policy have been minor compared to other Latin American countries. The near-crisis of the early 1980s was addressed in a timely way through a sharp fiscal...

Persistent link: https://www.econbiz.de/10005106927