Narrow search
Showing 1 - 10 of 83
Cover Image
IMF-Supported Adjustment Programs: Welfare Implications and the Catalytic Effect
Resende, Carlos de - Bank of Canada - 2007
The author studies the welfare implications of adjustment programs supported by the International Monetary Fund (IMF). He uses a model where an endogenous borrowing constraint, set up by international lenders who will never lend more than a debt ceiling, forces the borrowing economy to always...
Persistent link: https://www.econbiz.de/10005162515
Cover Image
Productivity, the terms of trade and the real exchange rate : the Balassa-Samuelson hypothesis revisited
Choudhri, Ehsan U. - 2009
The paper examines how the Balassa-Samuelson hypothesis is affected by a modern variation of the standard model that allows product differentiation (within the traded and nontraded goods sectors) with the number of firms determined exogenously or endogenously. The hypothesis is found to be...
Persistent link: https://www.econbiz.de/10003933283
Cover Image
Multilateral Adjustment and Exchange Rate Dynamics: The Case of Three Commodity Currencies
Bailliu, Jeannine; Dib, Ali; Kano, Takashi; Schembri, … - Bank of Canada - 2007
In this paper, we empirically investigate whether multilateral adjustment to large U.S. external imbalances can help explain movements in the bilateral exchange rates of three commodity currencies -- the Australian, Canadian and New Zealand (ACNZ) dollars. To examine the relationship between...
Persistent link: https://www.econbiz.de/10005162437
Cover Image
A Structural VAR Approach to the Intertemporal Model of the Current Account
Kano, Takashi - Bank of Canada - 2003
The intertemporal current account approach predicts that the current account of a small open economy is independent of global shocks, and that responses of the current account to country-specific shocks depend on the persistence of the shocks. The author shows that these predictions impose...
Persistent link: https://www.econbiz.de/10005808320
Cover Image
External Stability, Real Exchange Rate Adjustment and the Exchange Rate Regime in Emerging-Market Economies
Gervais, Olivier; Schembri, Lawrence; Suchanek, Lena - Bank of Canada - 2011
In emerging-market economies, real exchange rate adjustment is critical for maintaining a sustainable current account position and thereby for helping to reduce macroeconomic and financial instability. The authors examine empirically two related hypotheses: (i) that real exchange rate...
Persistent link: https://www.econbiz.de/10009323066
Cover Image
Endogenous Borrowing Constraints and Consumption Volatility in a Small Open Economy
Resende, Carlos de - Bank of Canada - 2006
Consumption volatility relative to output volatility is consistently higher in emerging economies than in developed … this mechanism alone can account for the relative consumption volatility differential between emerging and developed …'s findings suggest that the model is capable of accounting for more than half of the observed relative consumption volatility …
Persistent link: https://www.econbiz.de/10005673362
Cover Image
Exchange risk premiums, real interest rate differentials, and ex ante purchasing power parity
Longworth, David J. - 1986
Persistent link: https://www.econbiz.de/10000868698
Cover Image
Capital flows, exchange rates and monetary policy frameworks in Latin American and other economies : a report by a group of central banks including members of the Consultative Coun...
Bank für Internationalen Zahlungsausgleich - 2021
In early 2020, the Bank for International Settlements (BIS) Representative Office for the Americas contacted a group of nine central banks that includes the members of the Consultative Council of the Americas (CCA) except the US Federal Reserve (Argentina, Brazil, Canada, Chile, Colombia,...
Persistent link: https://www.econbiz.de/10012517920