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general equilibrium model, suggest that Turkey would have experienced a significantly lower inflation rate, with only a small …
Persistent link: https://www.econbiz.de/10014395994
Although accommodative policies and widespread indexation may account for the persistence of high inflation, they … cannot explain changes in the inflation rate. This paper examines the causes of such changes for the high-inflation episodes … distinguish between the “fiscal” and “balance of payments” views of the causes of high inflation by computing historical …
Persistent link: https://www.econbiz.de/10014396235
The paper distinguishes between three different channels through which fiscal policy changes may be transmitted to exchange rates. Based on both the balance of payments identity and empirical observations, it is argued that trade balances and exchange rates may be quite responsive to changes in...
Persistent link: https://www.econbiz.de/10014396476
This paper discusses the unique aspects of Singapore’s financial, exchange rate, and wage policies during the period 1979-86, and attempts to quantify the impact of alternative policies on major macroeconomic variables. For this purpose, a simple short-term model is formulated and estimated,...
Persistent link: https://www.econbiz.de/10014395760
This paper analyzes the financial policies pursued in the major industrial countries under the flexible exchange rate regime, and links misalignments in policies and their mixes to exchange rate variations among the major currencies. A number of indicators note that misalignments in fiscal...
Persistent link: https://www.econbiz.de/10014396106
Persistent link: https://www.econbiz.de/10013556152