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The Growth Effects of Current Account Reversals: The Role of Macroeconomic Policies
Mello, Luiz de; Padoan, Pier Carlo; Rousová, Linda - Economics Department, Organisation de Coopération et … - 2011
This paper assesses empirically whether or not current account reversals have permanent growth effects and the role of macroeconomic policies in this process. The methodology developed in de Mello, Padoan and Rousova (2010) to identify a chronology of current account reversals is applied to the...
Persistent link: https://www.econbiz.de/10009131544
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Effects of transitory shocks to aggregate output on consumption in poor countries
Brückner, Markus; Gradstein, Mark - In: Journal of International Economics 91 (2013) 2, pp. 343-357
This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …
Persistent link: https://www.econbiz.de/10011056357
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Effects of Transitory Shocks to Aggregate Output on Consumption in Poor Countries
Brückner, Markus; Gradstein, Mark - C.E.P.R. Discussion Papers - 2013
This paper provides instrumental variables estimates of the response of aggregate private consumption to transitory … transitory shocks to aggregate output on private consumption in poor countries. …
Persistent link: https://www.econbiz.de/10011083244
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A Bird's Eye View of OECD Housing Markets
André, Christophe - Economics Department, Organisation de Coopération et … - 2010
Housing markets have played a prominent role in macroeconomic developments over recent years. For a great part of the 2000s, buoyant housing markets have contributed to sustained economic activity in most OECD countries. But many markets overheated and the collapse of the US subprime mortgage...
Persistent link: https://www.econbiz.de/10008480480
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The Wealthy Hand-to-Mouth
Kaplan, Greg; Violante, Giovanni L; Weidner, Justin - C.E.P.R. Discussion Papers - 2014
The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts), despite owning sizable amounts of illiquid assets (assets that carry a transaction cost, such as housing or retirement accounts). We use survey data on household portfolios for...
Persistent link: https://www.econbiz.de/10011084522
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Strengthening the Macroeconomic Policy Framework in South Africa
Lysenko, Tatiana; Barnard, Geoff - Economics Department, Organisation de Coopération et … - 2011
South Africa’s macroeconomic framework has served the economy well, but should be strengthened to make the economy more resilient to external shocks. Enhancing the credibility of the inflation target would provide the monetary authorities with more space for flexibility in the face of...
Persistent link: https://www.econbiz.de/10008854030
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Reducing Macroeconomic Imbalances in Turkey
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Coşar, … - Economics Department, Organisation de Coopération et … - 2014
Turkey recovered swiftly from the global financial crisis but sizeable macroeconomic imbalances arose in the process. High consumer price inflation and a wide current account deficit are sources of vulnerability. Even though below-potential growth helps rebalancing and disinflation, these...
Persistent link: https://www.econbiz.de/10011277023
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Tackling Turkey's External and Domestic Macroeconomic Imbalances
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; … - Economics Department, Organisation de Coopération et … - 2012
Effective macroeconomic and structural policies helped Turkey bounce back quickly and strongly from the global crisis, with annual growth averaging close to 9% over 2010-11. However, the current account deficit widened to around 10% of GDP in 2011 and consumer price inflation rose to over 10%....
Persistent link: https://www.econbiz.de/10011277032
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The Limits of Fiscal, Monetary, and Trade Policies:International Comparisons and Solutions
Leightner, Jonathan E - World Scientific Publishing Co. Pte. Ltd.
global economic woes is a ¡°consumption driven growth model¡± (which China advocates but has yet to fully implement) because … when there is insufficient consumption, excess savings will remain idle, seek a return from rent or deception, or fund …>Fiscal Policy</li> <li>Trade Policy</li> <li>Currency Policy</li> <li>China and Export Versus Consumption-Driven Growth</li> <li …
Persistent link: https://www.econbiz.de/10011010979
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The present value model and Thailand's current account balance
Baharumshah, Ahmad Zubaidi; Ismail, Hamizun Bin - In: Journal of Economic Studies 39 (2012) 3, pp. 337-355
the optimal and actual consumption smoothing current accounts. Findings – Based on vector autoregressive model, it was … (insignificant) deviation between the actual and the estimated consumption-smoothing current account. The results show that the … hypothesis of full-consumption smoothing could not be rejected by the data for the full sample period, implying that the degree …
Persistent link: https://www.econbiz.de/10010616618