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Monetary approach to inflation: A medium-term structural model in a small open economy (the case of the Czech Republic in 1996-2004)

Arlt, Josef; Kodera, Jan; Mandel, Martin; Tomšík, … - In: Politická ekonomie 2006 (2006) 3

The paper analyses a relationship between monetary aggregate M2 and inflation in a small open economy. The relationship … between monetary expansion and inflation as well as a dynamic of income velocity of money framework in a small open economy … money and tradables inflation in the case of the Czech small open economy is not found. The conclusions presented in the …

Persistent link: https://www.econbiz.de/10005036707

Early Ideas on Sovereign Bankruptcy Reorganization : A Survey

Rogoff, Kenneth - 2006

This paper surveys early intellectual antecedents of the Krueger (2001) proposal for creating bankruptcy reorganization procedures at the international level. We focus on actual proposals for new procedures made from the late 1970s up to an influential lecture by Sachs (1995), with brief...

Persistent link: https://www.econbiz.de/10012782896

Debt intolerance

Reinhart, Carmen; Rogoff, Kenneth; Savastano, Miguel - Volkswirtschaftliche Fakultät, … - 2003

country’s default and inflation history. Debt intolerance is linked to the phenomenon of serial default that has plagued many …

Persistent link: https://www.econbiz.de/10005619850

Serial default and the “paradox” of rich to poor capital flows

Reinhart, Carmen; Rogoff, Kenneth - Volkswirtschaftliche Fakultät, … - 2004

Lucas (1990) argued that it was a paradox that more capital does not flow from rich countries to poor countries. He rejected the standard explanation of expropriation risk and argued that paucity of capital flows to poor countries must instead be rooted in externalities in human capital...

Persistent link: https://www.econbiz.de/10005789848

Financial Globalization : A Reappraisal

Kose, M. Ayhan - 2011

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels and with a variety of apparently conflicting results. For instance, there is still little robust evidence of the growth benefits of broad...

Persistent link: https://www.econbiz.de/10012756969

Financial Globalization and Economic Policies

Kose, M. Ayhan - 2011

We review the large literature on various economic policies that could help developing economies effectively manage the process of financial globalization. Our central findings indicate that policies promoting financial sector development, institutional quality and trade openness appear to help...

Persistent link: https://www.econbiz.de/10012756256

Financial Globalization: A Reappraisal

Kose, M. Ayhan; Prasad, Eswar; Rogoff, Kenneth; Wei, … - In: Panoeconomicus 56 (2009) 2, pp. 143-197

The literature on the benefits and costs of financial globalization for developing countries has exploded in recent years, but along many disparate channels with a variety of apparently conflicting results. There is still little robust evidence of the growth benefits of broad capital account...

Persistent link: https://www.econbiz.de/10008524030

Can Exchange Rates Forecast Commodity Prices?

Chen, Yu-Chin - 2010

This paper demonstrates that quot;commodity currencyquot; exchange rates have remarkably robust power in predicting future global commodity prices, both in sample and out-of-sample. A critical element of our in-sample approach is to allow for structural breaks, endemic to empirical exchange rate...

Persistent link: https://www.econbiz.de/10012715799

Can Exchange Rates Forecast Commodity Prices?

Chen, Yu-chin; Rogoff, Kenneth; Rossi, Barbara - Duke University, Department of Economics - 2010

This paper demonstrates that "commodity currency" exchange rates have remarkably robust power in predicting future global commodity prices, both in sample and out-of-sample. A critical element of our in-sample approach is to allow for structural breaks, endemic to empirical exchange rate models,...

Persistent link: https://www.econbiz.de/10008549016

Non-linear "Tuning" of Frankel's Exchange Rate Model

Michl, Aleš - In: Acta Oeconomica Pragensia 2005 (2005) 1, pp. 70-81

In this essay I've demonstrated that there is evidence of unstable and non-linear relationship between fundamental variables and exchange rates. I have tried to "tune" Frankel's (1979) real interest differential model of exchange rate fluctuation. I have distinguished between Czech crown/Euro...

Persistent link: https://www.econbiz.de/10005036477