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Reducing macroeconomic imbalances in Turkey
Röhn, Oliver; Gönenç, Rauf; Koen, Vincent; Erdoğan … - 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/10010464946
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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
participation, accelerated formalisation, stronger productivity growth, improvements in financial literacy and a more attractive …
Persistent link: https://www.econbiz.de/10011277032
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Fundamentals at Odds? The US Current Account Deficit and The Dollar
Milesi-Ferretti, Gian Maria - C.E.P.R. Discussion Papers - 2008
In mid-2008, the real effective exchange rate of the dollar was close to its minimum level for the past 4 decades. At the same time, however, the U.S. trade and current account deficits remain large and, absent a significant correction in coming years, would contribute to a further accumulation...
Persistent link: https://www.econbiz.de/10005662389
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Decreasing and increasing marginal impatience and the terms of trade in an interdependent world economy
Hirose, Ken-Ichi; Ikeda, Shinsuke - In: Journal of Economic Dynamics and Control 36 (2012) 10, pp. 1551-1565
Using a two-good, two-country model, we examine macroeconomic adjustment by allowing for decreasing and increasing marginal impatience (DMI and IMI). In the reference case where both countries have IMI, a negative output shock in one country lowers the interest rate and both countries' welfare...
Persistent link: https://www.econbiz.de/10010599375
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Productivity Spillovers, Terms of Trade and the 'Home Market Effect'
Corsetti, Giancarlo; Martin, Philippe; Pesenti, Paolo - C.E.P.R. Discussion Papers - 2005
This paper analyses the welfare implications of international spillovers related to productivity gains, changes in …-equilibrium model with monopolistic competition, drawing a distinction between productivity gains that enhance manufacturing efficiency …
Persistent link: https://www.econbiz.de/10005123889
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Thirlwall's law and the terms of trade : a parsimonious extension of the balance-of-payments-constrained growth model
Pérez Caldentey, Esteban; Moreno-Brid, Juan Carlos - In: Thirlwall's law at 40, (pp. 37-59). 2021
Persistent link: https://www.econbiz.de/10013369322
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Choques macroeconómicos al sector externo. Evidencia para la Argentina (1980-2011)/Macroeconomic Shocks to the External Sector. Evidence for Argentina (1980-2011)
LANTERI, LUIS N. - In: Estudios de Economía Aplicada 30 (2012) Diciembre, pp. 1061-1061
Este trabajo analiza la dinámica de los principales choques macroeconómicos que podrían afectar el balance comer¬cial y la cuenta corriente en el caso de la economía Argentina. En particular, se intenta evaluar el impacto de los precios internacionales sobre ambas variables externas. El...
Persistent link: https://www.econbiz.de/10010607952
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Optimal fiscal policy and different degrees of access to international capital markets
Kuralbayeva, Karlygash - In: Journal of Development Economics 103 (2013) C, pp. 336-352
Empirically, the cyclical pattern of fiscal policy differs between developed and developing countries, with in particular much greater pro-cyclicality and volatility of public investment in developing countries. In this paper I provide a theoretical explanation for the observed differences by...
Persistent link: https://www.econbiz.de/10010679301
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Productivity, External Balance and Exchange Rates: Evidence on the Transmission Mechanism among G7 Countries
Corsetti, Giancarlo; Dedola, Luca; Leduc, Sylvain - C.E.P.R. Discussion Papers - 2006
This paper investigates the international transmission of productivity shocks in a sample of five G7 countries. For … each country, using long-run restrictions, we identify shocks that increase permanently domestic labour productivity in … fall when its output grows, thus providing a mechanism to contain differences in national wealth when productivity levels …
Persistent link: https://www.econbiz.de/10005662111