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Eichengreen, Barry - C.E.P.R. Discussion Papers - 2004

This Paper reviews the controversy over China’s exchange rate regime. Placing the issue in the context of the … literature on exit strategies, it argues that now is the best time for China to exit from its peg. Moving to a managed float …

Persistent link: https://www.econbiz.de/10005067647

Prospective Deficits and the Asian Currency Crises

Burnside, Craig; Eichenbaum, Martin; Rebelo, Sérgio - C.E.P.R. Discussion Papers - 1998

This paper argues that the recent Southeast Asian currency crises was caused by large prospective deficits associated with implicit bailout guarantees to failing banking systems. We articulate this view using a simple dynamic general equilibrium model whose key feature is that a speculative...

Persistent link: https://www.econbiz.de/10005124184

Inflation Targeting and Inflation Persistence in Asia

Gerlach, Stefan; Tillmann, Peter - C.E.P.R. Discussion Papers - 2010

Following the Asian financial crisis in 1997-98, a number of Asian central banks adopted inflation targeting. We explore how successful this framework has been by looking at the persistence of inflation, as measured by the sum of the coefficients in an autoregressive model for inflation, using a...

Persistent link: https://www.econbiz.de/10008684680

Geography and the Determinants of Firm Exports in Indonesia

Farole, Thomas; Rodriguez-Pose, Andres; Tselios, Vassilis; … - C.E.P.R. Discussion Papers - 2013

This paper uses data from the Indonesian manufacturing census in order to uncover the determinants of firm exports over the period 1990-2005. We examine to what extent differences in firm export propensity and intensity are a consequence of firm-level (microeconomic), of place-based...

Persistent link: https://www.econbiz.de/10011084523

The Early Modern Great Divergence: Wages, Prices and Economic Development in Europe and Asia, 1500-1800

Broadberry, Stephen N; Gupta, Bishnupriya - C.E.P.R. Discussion Papers - 2005

Contrary to the claims of Pomeranz, Parthasarathi and other ‘world historians’, the prosperous parts of Asia between … northwestern parts. In the advanced parts of India and China, grain wages were comparable to those in northwestern Europe, but …. The ‘Great Divergence’ between Europe and Asia was already well underway before 1800. …

Persistent link: https://www.econbiz.de/10005666692

Long-Term Unemployment, Excess Demand and the Wage Equation in Britain, 1925-39

Crafts, Nicholas - C.E.P.R. Discussion Papers - 1986

The relationship between unemployment and the rate of change of money wages in interwar Britain is re-examined. It is argued that improved estimates of the wage equation can be obtained by taking account explicitly of factors which change the level of excess demand associated with the measured...

Persistent link: https://www.econbiz.de/10005067347

Wage Inflation, Electoral Uncertainty and the Exchange Rate Regime: Theory and UK Evidence

Alogoskoufis, George; Lockwood, Ben; Philippopoulos, … - C.E.P.R. Discussion Papers - 1992

We extend the `rational-partisan' model of inflation to allow for the effects of unemployment persistence on the dynamics of inflation. We combine this model with the `exchange-rate-regime' model of inflation and examine the experience of the United Kingdom. Outside the fixed exchange rate...

Persistent link: https://www.econbiz.de/10005067418

Modelling Energy Demand and Household Welfare Using Micro-Data

Baker, Paul; Blundell, Richard William; Micklewright, John - C.E.P.R. Discussion Papers - 1987

The paper is concerned with the empirical modelling of domestic demand for energy in the United Kingdom at the level of the individual household (most previous British work has used aggregate time-series data). The paper develops a two-stage budgeting model of the household's demand for energy...

Persistent link: https://www.econbiz.de/10005497752

The Determinants of the Money Multiplier in the United Kingdom

Beenstock, Michael; Chan, Kam-Fai - C.E.P.R. Discussion Papers - 1986

We use annual data drawn from 1950-85 to estimate an econometric model of the money multiplier for the United Kingdom. We define the money multiplier as ratio of the money stock broadly defined (M3) and the monetary base (M0), and then decompose the multiplier into the currency ratio, the time...

Persistent link: https://www.econbiz.de/10005497753

Ten Years of Mrs. T.

Bean, Charles R; Symons, James - C.E.P.R. Discussion Papers - 1989

We argue that the 1970s were characterized by attempts to maintain a cooperative, low unemployment equilibrium in the face of considerable union power, through use of incomes policies and neo-corporatist machinery. The 1980s saw a shift away from this, towards direct measures to limit union...

Persistent link: https://www.econbiz.de/10005504742

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