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Monetary and exchange rate policy under remittance fluctuations
Mandelman, Federico S. - In: Journal of Development Economics 102 (2013) C, pp. 128-147
access to financial markets and test whether remittances are countercyclical and serve as an insurance mechanism against … secular increase in the trend growth of remittances and random cyclical fluctuations around this trend. In a purely … households facing an increasing trend for remittances. A flexible floating regime is preferred when unanticipated shocks driving …
Persistent link: https://www.econbiz.de/10011065920
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Remittances, monetary institutions, and autocracies
Garriga, Ana Carolina; Meseguer Yebra, Covadonga - In: Oxford development studies 47 (2019) 4, pp. 452-467
Persistent link: https://www.econbiz.de/10012198112
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Remittances and manufacturing sector growth in sub-Saharan Africa
Lartey, Emmanuel; Nigatu, Getachew - In: International economic journal 35 (2021) 1, pp. 120-138
Persistent link: https://www.econbiz.de/10012499010
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Optimal exchange rate policy for a small oil-exporting country: A dynamic general equilibrium perspective
Al-Abri, Almukhtar Saif - In: Economic Modelling 36 (2014) C, pp. 88-98
This paper examines the choice of optimal exchange rate regime for an oil-exporting small open economy using a welfare-based model. The paper extends the standard New Keynesian Small Open Economy model to include three countries: a small oil-exporting country and two large foreign countries. The...
Persistent link: https://www.econbiz.de/10010729808
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Exchange rate regimes and fiscal multipliers
Born, Benjamin; Juessen, Falko; Müller, Gernot - C.E.P.R. Discussion Papers - 2012
Does the fiscal multiplier depend on the exchange rate regime and, if so, how strongly? To address this question, we first estimate a panel vector autoregression (VAR) model on time-series data for OECD countries. We identify the effects of unanticipated government spending shocks in countries...
Persistent link: https://www.econbiz.de/10011083977
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Floats, pegs and the transmission of fiscal policy
Corsetti, Giancarlo; Kuester, Keith; Müller, Gernot - C.E.P.R. Discussion Papers - 2011
According to conventional wisdom, fiscal policy is more effective under a fixed than under a flexible exchange rate regime. In this paper we reconsider the transmission of shocks to government spending across these regimes within a standard new-Keynesian model of a small open economy. Because of...
Persistent link: https://www.econbiz.de/10008784752
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Limits of floating exchange rates: The role of foreign currency debt and import structure
Towbin, Pascal; Weber, Sebastian - In: Journal of Development Economics 101 (2013) C, pp. 179-194
A traditional argument in favor of flexible exchange rates is that they insulate output better from real shocks, because the exchange rate can adjust and stabilize demand for domestic goods through expenditure switching. This argument is weakened in models with high foreign currency debt and low...
Persistent link: https://www.econbiz.de/10010636567
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A comparison of exchange rate regime choice in emerging markets with advanced and low income nations for 1999–2011
Ghosh, Amit - In: International Review of Economics & Finance 33 (2014) C, pp. 358-370
The recent global financial crisis has sparked a renewal of debate on the choice of exchange rate regimes. Creating a tripartite regime classification, the present study examines their determinants for 137 nations spanning the period 1999–2011. I find that trade openness, economic development,...
Persistent link: https://www.econbiz.de/10010930979
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Openness and optimal monetary policy
Lombardo, Giovanni; Ravenna, Federico - In: Journal of International Economics 93 (2014) 1, pp. 153-172
We show that the composition of international trade has important implications for the optimal volatility of the exchange rate, above and beyond the size of trade flows. Using an analytically tractable small open economy model, we characterize the impact of the trade composition on the policy...
Persistent link: https://www.econbiz.de/10010776976
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US Long Term Interest Rates and Capital Flows to Emerging Economies
Olaberria, Eduardo - Economics Department, Organisation de Coopération et … - 2014
Following Chairman Ben Bernanke’s comments before Congress that the FOMC may ‘take a step down in the pace of asset purchases if economic improvement appears to be sustained’, US 10-year interest rates picked up sharply and gross capital flows to emerging market economies (EMEs) reversed....
Persistent link: https://www.econbiz.de/10011276981