Similar Search Results

Competitiveness, Wage Adjustment and Macroeconomic Policy in a Small Open Economy

Alogoskoufis, George - C.E.P.R. Discussion Papers - 1987

In this paper I investigate the relationships between wage adjustment, competitiveness, macroeconomic policy and … in the traded goods sector are negatively related with competitiveness. Wage setting is what determines competitiveness … postwar period, and is used to assess the macroeconomic experience and policy options in Greece. …

Persistent link: https://www.econbiz.de/10005504264

Would Protectionism Defuse Global Imbalances and Spur Economic Activity? A Scenario Analysis

Faruqee, Hamid; Laxton, Doug; Muir, Dirk; Pesenti, Paolo - C.E.P.R. Discussion Papers - 2006

In the evolving debate and analysis of global imbalances, a commonly overlooked issue pertains to rising protectionism. This paper attempts to fill that gap, examining the macroeconomic implications of trade policy changes through the lens of a dynamic general equilibrium model of the world...

Persistent link: https://www.econbiz.de/10005789140

Global Imbalances and the Financial Crisis: Products of Common Causes

Obstfeld, Maurice; Rogoff, Kenneth - C.E.P.R. Discussion Papers - 2009

This paper makes a case that the global imbalances of the 2000s and the recent global financial crisis are intimately connected. Both have their origins in economic policies followed in a number of countries in the 2000s and in distortions that influenced the transmission of these policies...

Persistent link: https://www.econbiz.de/10008557008

Sovereign default risk and commitment for fiscal adjustment

Gonçalves, Carlos Eduardo; Guimarães, Bernardo - C.E.P.R. Discussion Papers - 2012

This paper studies fiscal policy in a model of sovereign debt and default. A time-inconsistency problem arises: since the price of past debt cannot be affected by current fiscal policy and governments cannot credibly commit to a certain path of tax rates, debtor countries choose suboptimally low...

Persistent link: https://www.econbiz.de/10011083643

Dollarization, Bailouts and the Stability of the Banking System

Gale, Douglas M; Vives, Xavier - C.E.P.R. Discussion Papers - 2001

obtained are applied to assess the desirability of dollarization in a range of countries and the potential role of the IMF as …

Persistent link: https://www.econbiz.de/10005788955

Conditionality and Ownership in IMF Lending: A Political Economy Approach

Drazen, Allan - C.E.P.R. Discussion Papers - 2002

The relation between IMF conditionality and country ownership of assistance programs is considered from a political …

Persistent link: https://www.econbiz.de/10005788965

Estimating Loss Function Parameters

Elliott, Graham; Komunjer, Ivana; Timmermann, Allan G - C.E.P.R. Discussion Papers - 2003

and asymptotic distributional results for these parameters. The methods are applied in an empirical analysis of IMF and …

Persistent link: https://www.econbiz.de/10005791975

The Use of SDRs in the Financing of Official Safety-net Mechanisms

De Cecco, Marcello; Giavazzi, Francesco - C.E.P.R. Discussion Papers - 1996

The question addressed in this paper is whether the IMF should be involved in Mexico-style crises and, if the answer is … positive, whether the existing IMF financing mechanisms are adequate – both in terms of the volume of funds that can be … countries, and the justification for IMF intervention lies in the ability of this institution, compared with international …

Persistent link: https://www.econbiz.de/10005123583

The Bail-In Problem: Systematic Goals, Ad Hoc Means

Eichengreen, Barry; Ruehl, Christoph - C.E.P.R. Discussion Papers - 2000

In this paper we analyse the recent efforts of the international financial institutions to limit the moral hazard created by their assistance to crisis countries. We question the wisdom of the case-by-case approach taken in Pakistan, Ecuador, Romania and Ukraine. We show that because default and...

Persistent link: https://www.econbiz.de/10005124195

Which International Institutions Promote International Trade?

Rose, Andrew K - C.E.P.R. Discussion Papers - 2003

International Monetary Fund (IMF); and 3) the Organization for Economic Cooperation and Development (OECD). I use a standard … indicate that OECD membership (but neither GATT/WTO nor IMF membership) has had a consistently large positive effect on trade. …

Persistent link: https://www.econbiz.de/10005504751