Listing 1 - 10 of 48 | << page >> |
Sort by
|
Choose an application
This paper presents a number of facts about growth in Latin America, and shows how critical correlates of growth have evolved over time. In comparison with other regions, Latin America has consistently exhibited higher macroeconomic volatility, lower openness, and higher income inequality, though openness and macroeconomic stability have improved since the early 1990s. The paper then discusses three views of why reforms have not led to higher growth in Latin America: that reforms have gone too far; that reforms have not gone far enough; and that reforms have missed the point.
Economic development -- Latin America. --- Electronic books. -- local. --- Monetary policy -- Latin America. --- Business & Economics --- Economic History --- Economic development --- Monetary policy --- Exports and Imports --- Financial Risk Management --- Macroeconomics --- Aggregate Factor Income Distribution --- Financial Crises --- Trade Policy --- International Trade Organizations --- Labor Economics: General --- Empirical Studies of Trade --- International economics --- Economic & financial crises & disasters --- Labour --- income economics --- Income --- Financial crises --- Trade liberalization --- Labor --- Terms of trade --- Commercial policy --- Labor economics --- Economic policy --- nternational cooperation --- Brazil
Choose an application
The presence of an “EMU premium” in German long rates is tested by examining the co-movement of German and other European yields, as well as the exchange rate of the private ECU, in reaction to EMU-related events. If German yields incorporate an “EMU premium” while other European currencies expect lower interest rates from EMU, then German and other European long yields should react in opposite directions to events affecting the probability of EMU. In fact, they typically react in the same direction. Similarly, events which lead to an appreciation of the private ECU are associated with a decline in German yields.
Banks and Banking --- Finance: General --- Investments: Bonds --- Money and Monetary Policy --- Interest Rates: Determination, Term Structure, and Effects --- International Monetary Arrangements and Institutions --- Studies of Particular Policy Episodes --- General Financial Markets: General (includes Measurement and Data) --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Investment & securities --- Finance --- Monetary economics --- Bond yields --- Yield curve --- Securities markets --- Bonds --- Currencies --- Financial institutions --- Financial services --- Financial markets --- Money --- Interest rates --- Capital market --- Germany
Choose an application
This paper studies the impact effect of monetary policy shocks—identified by the reaction of three month market interest rates to policy announcements—on the exchange rate in Australia, Canada, and New Zealand during the 1990s. The main results are that (1) on average, a 100 basis point contractionary shock will appreciate the exchange rate by 2-3 percent on impact; (ii) seemingly “perverse” reactions of the exchange rate to monetary policy are mainly attributable to reverse causality; (iii) in a few instances, there were true “perverse” reactions of exchange rates to policy— generally, appreciations following expansionary shocks.
Banks and Banking --- Foreign Exchange --- Investments: General --- Money and Monetary Policy --- Monetary Policy --- Central Banks and Their Policies --- Open Economy Macroeconomics --- Development Planning and Policy: Trade Policy --- Factor Movement --- Foreign Exchange Policy --- Interest Rates: Determination, Term Structure, and Effects --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Investment --- Capital --- Intangible Capital --- Capacity --- Currency --- Foreign exchange --- Banking --- Monetary economics --- Macroeconomics --- Exchange rates --- Exchange rate policy --- Central bank policy rate --- Currencies --- Depreciation --- Financial services --- Money --- National accounts --- Interest rates --- Saving and investment --- New Zealand
Choose an application
This paper examines the reaction of the bilateral Ch$/US$ exchange rate to monetary policy actions in Chile and the United States. The approach is to regress the change in the exchange rate following a policy announcement on changes in market interest rates in response to the same announcement. U.S. monetary policy actions that raise the three-month treasury bill rate by 1 percentage point lead to depreciations of the Chilean peso by about 1.5 to 2 percent. The exchange rate also reacts to monetary policy actions in Chile, but the response appears to be smaller, and cannot be estimated with much precision on the available sample.
Banks and Banking --- Foreign Exchange --- Monetary Policy --- Central Banks and Their Policies --- Open Economy Macroeconomics --- Interest Rates: Determination, Term Structure, and Effects --- Development Planning and Policy: Trade Policy --- Factor Movement --- Foreign Exchange Policy --- Currency --- Foreign exchange --- Finance --- Banking --- Exchange rates --- Exchange rate policy --- Central bank policy rate --- Market interest rates --- Deposit rates --- Financial services --- Interest rates --- United States
Choose an application
After the break-up of the Soviet Union, Uzbekistan’s output fell less than in any other former Soviet Republic, and growth turned positive in 1996/97. Given the country’s hesitant and idiosyncratic approach to reforms, this record has suprised many observers. This paper first shows that a standard panel model of growth in transition systematically underpredicts Uzbek growth from 1992-1996, confirming the view that Uzbekistan’s performance consitutes a puzzle. It then attempts to resolve the puzzle by appropriately extending the model. The main result is that Uzbekistan’s output performance was driven by a combination of low initial industrialization, its cotton production, and its self-sufficiency in energy.
Investments: Commodities --- Macroeconomics --- Public Finance --- Natural Resources --- Socialist Systems and Transitional Economies: National Income, Product, and Expenditure --- Money --- Inflation --- Socialist Systems and Transitional Economies: Performance and Prospects --- Comparative Studies of Particular Economies --- Economywide Country Studies: Asia including Middle East --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Agriculture: General --- Institutions and the Macroeconomy --- Agricultural and Natural Resource Economics --- Environmental and Ecological Economics: General --- Public finance & taxation --- Investment & securities --- Environmental management --- Agricultural commodities --- Public investment spending --- Structural reforms --- Natural resources --- Capital spending --- Commodities --- Expenditure --- Macrostructural analysis --- Environment --- Farm produce --- Public investments --- Capital investments --- Uzbekistan, Republic of
Choose an application
Choose an application
Providing case studies of debt defaults by Russia, Ukraine, Pakistan, Ecuador, Moldova, and Uruguay, framed by a discussion of the history, economic theory, legal issues, and policy lessons of sovereign debt crises, this work examines the facts, economic theory, and policy implications of sovereign debt crises.
Developing Countries --- 336.312.3 --- AR / Argentina - Argentinië - Argentine --- EC / Ecuador - Equateur --- LDC / Developping Countries - Pays En Développement --- MD / Moldova - Moldavie --- PK / Pakistan --- RU / Russia - Rusland - Russie --- UA / Ukraine - Oekraine --- UY / Uruguay --- Debts, External --- -Debt relief --- -336.3435091724 --- Debt relief --- Debt renegotiation --- Debt rescheduling --- Debt restructuring --- Relief, Debt --- Renegotiation, Debt --- Rescheduling, Debt --- Restructuring, Debt --- Debtor and creditor --- Debts, Foreign --- Debts, International --- External debts --- Foreign debts --- International debts --- Debt --- International finance --- Investments, Foreign --- Economic policy. --- Solvabiliteit, kredietwaardigheid van de landen. Risicolanden. --- Law and legislation --- Developing countries --- 336.3435091724 --- Solvabiliteit, kredietwaardigheid van de landen. Risicolanden --- SOCIAL SCIENCES/Political Science/Public Policy & Law --- ECONOMICS/Finance --- ECONOMICS/International Economics
Choose an application
This paper describes the evolution of ideas to apply bankruptcy reorganization principles to sovereign debt crises. Our focus is on policy proposals between the late 1970s and Anne Krueger's (2001) proposed "Sovereign Debt-Restructuring Mechanism," with brief reference to the economics literature on sovereign debt. We describe the perceived inefficiencies that motivate proposals, and how proposals seek to change debtor and creditor incentives. We find that there has been a moving concensus on what constitutes the underlying problem, but not on how to fix it. The range of proposed approaches remains broad and only recently shows some signs of narrowing.
Financial Risk Management --- Public Finance --- Debt --- Debt Management --- Sovereign Debt --- Financial Crises --- Taxation, Subsidies, and Revenue: General --- Finance --- Economic & financial crises & disasters --- Public finance & taxation --- Financial crises --- Debt restructuring --- Debt renegotiation --- Legal support in revenue administration --- Debt rescheduling --- Asset and liability management --- Revenue administration --- Debts, External --- Revenue --- United States
Choose an application
We present a stylized framework which encompasses a variety of "balance sheet approaches" to currency crises that have been suggested in the literature, and analyze their policy implications. The common theme is that currency and maturity mismatches in private sector balance sheets constrain the capacity of monetary and fiscal policies to deal with self-fulfilling capital account crises, and generate a role for international crisis lending. International lending could be used to back domestic last-resort lending to banks, or to loosen fiscal constraints. Provided they have a sound fiscal position in normal times, this can make countries immune to self-fulfilling crises.
Accounting --- Banks and Banking --- Foreign Exchange --- Money and Monetary Policy --- Current Account Adjustment --- Short-term Capital Movements --- International Monetary Arrangements and Institutions --- International Lending and Debt Problems --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Public Administration --- Public Sector Accounting and Audits --- Monetary Policy, Central Banking, and the Supply of Money and Credit: General --- Currency --- Foreign exchange --- Financial reporting, financial statements --- Banking --- Monetary economics --- Exchange rates --- Financial statements --- Credit --- Exchange rate arrangements --- Finance, Public --- Banks and banking
Choose an application
What explains Uzbekistan’s unusually mild “transformational recession” and its moderate recovery during 1996-97? We examine potential biases in output measurement, the role of “special factors”—including initial production structure, natural resources, and public investment policies—and sectoral output developments. The main findings are (i) Uzbekistan’s relatively favorable output record is not an artifact of measurement alone; (ii) public investment has had no significant effects on growth; (iii) the mildness of Uzbekistan’s transitional recession can be accounted for by its favorable initial production structure and its self-sufficiency in energy; (iv) unless reforms are significantly accelerated, medium-term growth prospects are mediocre.
Investments: Commodities --- Foreign Exchange --- Macroeconomics --- Public Finance --- Agribusiness --- Socialist Systems and Transitional Economies: National Income, Product, and Expenditure --- Money --- Inflation --- Socialist Systems and Transitional Economies: Performance and Prospects --- Comparative Studies of Particular Economies --- Measurement of Economic Growth --- Aggregate Productivity --- Cross-Country Output Convergence --- Economywide Country Studies: Asia including Middle East --- Agriculture: General --- Institutions and the Macroeconomy --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Commodity Markets --- Investment & securities --- Agricultural economics --- Public finance & taxation --- Currency --- Foreign exchange --- Agricultural commodities --- Structural reforms --- Agricultural sector --- Public investment spending --- Commodities --- Macrostructural analysis --- Economic sectors --- Expenditure --- Farm produce --- Agricultural industries --- Public investments --- Commercial products --- Uzbekistan, Republic of
Listing 1 - 10 of 48 | << page >> |
Sort by
|