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In recent years, Bolivia has accumulated a significant level of international reserves due to favorable external environment and the exchange rate regimen (crawling peg). In this context arises the question of: Which one is the optimal level of international reserves? According to the...
Persistent link: https://www.econbiz.de/10010294091
The aim of this paper is to identify the different shocks that could affect the current account in the argentine case, such as the terms of trade (the Harberger-Laursen-Metzler effect-HLM), supply shocks (productivity), demand shocks (real exchange rate and public consumption /current GDP) and...
Persistent link: https://www.econbiz.de/10012057273
The aim of this paper is to identify the different shocks that could affect the current account in the argentine case, such as the terms of trade (the Harberger-Laursen-Metzler effect- HLM), supply shocks (productivity), demand shocks (real exchange rate and public consumption /current GDP) and...
Persistent link: https://www.econbiz.de/10011966837
The purpose of this paper is to contrast the Keynesian partial equilibrium framework of the Current Account with the modern intertemporal general equilibrium approach where the Current Account imbalances reflect, and act as a buffer, against both real and monetary shocks. The document will try...
Persistent link: https://www.econbiz.de/10013254726
In recent years, Bolivia has accumulated a significant level of international reserves due to favorable external environment and the exchange rate regimen (crawling peg). In this context arises the question of: Which one is the optimal level of international reserves? According to the...
Persistent link: https://www.econbiz.de/10008757701
shocks in Mexico. The interest rate is divided in two terms: an international rate and a country risk premia. Simulations … show that the model with endogenous risk premia is able to explain several stylized facts at business cycle frequencies … eliminated, especially due to its country risk premia component. In the absence of such shocks, cyclical output and consumption …
Persistent link: https://www.econbiz.de/10012835850
The purpose of this paper is to contrast the Keynesian partial equilibrium framework of the Current Account with the modern intertemporal general equilibrium approach where the Current Account imbalances reflect, and act as a buffer, against both real and monetary shocks. The document will try...
Persistent link: https://www.econbiz.de/10012672306