International Capital Flows, Exchange Rate Determination and Persistent Current-account Imbalances PDF Download
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Author:
Publisher:
ISBN:
Category : Balance of payments
Languages : en
Pages : 380
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Book Description
Author:
Publisher:
ISBN:
Category : Balance of payments
Languages : en
Pages : 380
Get Book Here
Book Description
Author: BPI. Banco de Pagos Internacionales
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Author: Maxwell J. Fry
Publisher:
ISBN:
Category : Balance of payments
Languages : en
Pages : 74
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Book Description
Author: Philip R. Lane
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 66
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Book Description
Although Europe in the aggregate is a not a major contributor to global current account imbalances, its trade and financial linkages with the rest of the world mean that it will still be affected by a shift in the current configuration of external deficits and surpluses. We assess the macroeconomic impact on Europe of global current account adjustment under alternative scenarios, emphasizing both trade and financial channels. Finally, we consider heterogeneous exposure across individual European economies to external adjustment shocks.
Author: Reuven Glick
Publisher: Cambridge University Press
ISBN: 9780521623230
Category : Business & Economics
Languages : en
Pages : 530
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Book Description
"This is a very timely book that brings the reader to the forefront of current research on macroeconomic policy issues in economies subject to sizable capital flows".--Guillermo A. Calvo, University of Maryland.
Author: Fredy A. G. Estrada
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Gian Maria Milesi-Ferretti
Publisher: International Finance Section Princeton University Internati
ISBN:
Category : Business & Economics
Languages : en
Pages : 90
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Book Description
This study presents a notion of current-account sustainability that explicitly considers, in addition to intertemporal solvency, a willingness to pay and to lend. It argues that this notion of sustainability provides a useful framework for understanding the variety of country experiences with protracted current-account imbalances. Based on this notion, the authors identify a number of potential sustainability indicators related to the structure of the economy and the economic policy stance. They use these indicators in the evaluation of the experience of a number of countries that have run persistent current-account imbalances and ask whether they help to discriminate between countries that underwent an external crisis and those that did not.
Author: Ignatius K. Peprah
Publisher:
ISBN:
Category : Capital movements
Languages : en
Pages : 155
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Book Description
Author: Takatoshi Ito
Publisher: University of Chicago Press
ISBN: 0226386937
Category : Business & Economics
Languages : en
Pages : 466
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Book Description
The exchange rate is a crucial variable linking a nation's domestic economy to the international market. Thus choice of an exchange rate regime is a central component in the economic policy of developing countries and a key factor affecting economic growth. Historically, most developing nations have employed strict exchange rate controls and heavy protection of domestic industry-policies now thought to be at odds with sustainable and desirable rates of economic growth. By contrast, many East Asian nations maintained exchange rate regimes designed to achieve an attractive climate for exports and an "outer-oriented" development strategy. The result has been rapid and consistent economic growth over the past few decades. Changes in Exchange Rates in Rapidly Developing Countries explores the impact of such diverse exchange control regimes in both historical and regional contexts, focusing particular attention on East Asia. This comprehensive, carefully researched volume will surely become a standard reference for scholars and policymakers.
Author: John H. Makin
Publisher:
ISBN:
Category : Balance of payments
Languages : en
Pages : 28
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Book Description
This paper develops a theory of international capital flows based upon a monetary-equilibrium, rational-expectation theory of exchanged rate determination extended to include the official intervention and possible sterilization of its effects upon the monetary base that are part of the post-1973 system of limited flexibility of exchange rates. Capital flows are shown to depend only on the current expectation of a future relative excess money supplies once all arbitrage conditions are imposed along with rationality. Empirical testing reveals that U.S. international capital flows respond with persistent, damped oscillations to growth of relative excess money. This phenomenon is a quantity adjustment corollary of '"overshooting" of exchange rates in response to changes in relative excess money supply. Inclusion of a relative interest rate term along with measures of growth of relative excess money supply results in rejection of the hypothesis that such a variable provides any additional explanatory power regarding behavior of U.S. international capital flows
