Dynamic Response to Foreign Transfers and Terms-of-trade Shocks in Open Economies PDF Download
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Author: Klaus Schmidt-Hebbel
Publisher: World Bank Publications
ISBN:
Category : Comercio internacional
Languages : en
Pages : 52
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Book Description
Both permanent and transitory disturbances can change long- run capacity and output -- although they may have opposite effects on the current account. Liquidity constraints and wage rigidities tend to amplify the cyclical adjustment to external shocks.
Author: Klaus Schmidt-Hebbel
Publisher: World Bank Publications
ISBN:
Category : Comercio internacional
Languages : en
Pages : 52
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Book Description
Both permanent and transitory disturbances can change long- run capacity and output -- although they may have opposite effects on the current account. Liquidity constraints and wage rigidities tend to amplify the cyclical adjustment to external shocks.
Author: Camila Casas
Publisher: International Monetary Fund
ISBN: 1484330609
Category : Business & Economics
Languages : en
Pages : 62
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Book Description
Most trade is invoiced in very few currencies. Despite this, the Mundell-Fleming benchmark and its variants focus on pricing in the producer’s currency or in local currency. We model instead a ‘dominant currency paradigm’ for small open economies characterized by three features: pricing in a dominant currency; pricing complementarities, and imported input use in production. Under this paradigm: (a) the terms-of-trade is stable; (b) dominant currency exchange rate pass-through into export and import prices is high regardless of destination or origin of goods; (c) exchange rate pass-through of non-dominant currencies is small; (d) expenditure switching occurs mostly via imports, driven by the dollar exchange rate while exports respond weakly, if at all; (e) strengthening of the dominant currency relative to non-dominant ones can negatively impact global trade; (f) optimal monetary policy targets deviations from the law of one price arising from dominant currency fluctuations, in addition to the inflation and output gap. Using data from Colombia we document strong support for the dominant currency paradigm.
Author: Estelle James
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 40
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Book Description
Author: Sweder van Wijnbergen
Publisher: World Bank Publications
ISBN: 1004001134
Category : Europe, Eastern
Languages : en
Pages : 41
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Book Description
Applying Western textbook solutions to the problems of enterprise reform in Eastern Europe is likely to be counterproductive. Policy design must be imaginative and explicitly incorporate the political constraints and incentive problems specific to the region, leading to new approaches to enterprise and banking reform.
Author:
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 68
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Book Description
Author: George R. G. Clarke
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 34
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Book Description
Author: World Bank. East Asia and Pacific Regional Office. Environment and Social Development Sector Unit
Publisher: World Bank Publications
ISBN:
Category : Mongolia
Languages : en
Pages : 50
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Author:
Publisher: World Bank Publications
ISBN:
Category : Educacion superior - Uganda
Languages : en
Pages : 77
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Book Description
In recent years, Makerere University has experienced increasing student and staff unrest. The academic community is demoralized by tight government controls on spending-- especially by inaction on staff salary demands. Donor support will not be forthcoming without broad policy reform in higher education, rather than piecemeal reform.
Author: Klaus Schmidt-Hebbel
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 52
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Book Description
Author: Michael Parkin
Publisher: Manchester University Press
ISBN: 9780719007125
Category : Business & Economics
Languages : en
Pages : 316
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Book Description
