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Exchange Rate Regimes in the Asia-Pacific Region and the Global Financial Crisis
McKibbin, Warwick; Chanthapun, Waranya Pim - Crawford School of Public Policy, Australian National … - 2009
Rising economic integration in Asia and periodic volatility in global and national financial markets raise the issue of the optimal degree and form of monetary cooperation among Asian economies. There is a large literature on the benefits and costs of monetary cooperation, however, less can be...
Persistent link: https://www.econbiz.de/10010904342
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Indeterminacy and Forecastability
Fujiwara, Ippei; Hirose, Yasuo - Crawford School of Public Policy, Australian National … - 2012
this phenomenon in the context of equilibrium indeterminacy in dynamic stochastic general equilibrium (DSGE) models. We … first analytically show that a model under indeterminacy exhibits richer dynamics that can improve forecastability. Then …, using a sticky-price DSGE model, we numerically demonstrate that indeterminacy arising from passive monetary policy …
Persistent link: https://www.econbiz.de/10011201596
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Expectations Traps and Coordination Failures:Selecting Among Multiple Discretionary Equilibria
Dennis, Richard; Kirsanova, Tatiana - Crawford School of Public Policy, Australian National … - 2010
Discretionary policymakers cannot manage private-sector expectations and cannot co- ordinate the actions of future policymakers. As a consequence, expectations traps and coordination failures can occur and multiple equilibria can arise. In order to utilize the explanatory power of models with...
Persistent link: https://www.econbiz.de/10010607741
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Resource Augmentation for Meeting the Millennium Development Goals in the Asia Pacific Region
Jha, Raghbendra; Palanivel, T. - Crawford School of Public Policy, Australian National … - 2007
This paper examines whether the resource positions of the developing counties in the Asia Pacific region and the support they are receiving from donor countries are adequate to ensure that the MDG will be attained by 2015. It begins by examining the extant record of economic growth and...
Persistent link: https://www.econbiz.de/10005057534
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Resource Augmentation for Meeting the Millennium Development Goals in the Asia Pacific Region
Jha, Raghbendra; Palanivel, T. - Crawford School of Public Policy, Australian National … - 2007
This paper examines whether the resource positions of the developing counties in the Asia Pacific region and the support they are receiving from donor countries are adequate to ensure that the MDG will be attained by 2015. It begins by examining the extant record of economic growth and...
Persistent link: https://www.econbiz.de/10005057563
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Cooperation between countries to ensure global economic growth: a role for the G20?
Vines, David - Crawford School of Public Policy, Australian National … - 2014
The global economic recovery is on course but remains weak. Many analysts and policymakers - including those from emerging markets - have recently called for international cooperation in the setting of macroeconomic policies. A global growth target has been adopted by the G20 to aid such...
Persistent link: https://www.econbiz.de/10011254960
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Not all international monetary shocks are alike for the Japanese economy
Ratti, Ronald A.; Vespignani, Joaquin L. - Crawford School of Public Policy, Australian National … - 2014
It is found that over 1999:1-2012:12 China’s monetary expansion influences Japan through the effect of China’s growth on world commodity prices, increased demand for imports, and exchange rate policy. China’s monetary expansion is associated with significant increases in Japan’s...
Persistent link: https://www.econbiz.de/10010764889
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Regionalization vs. Globalization
Hirata, Hideaki; Kose, M. Ayhan; Otrok, Christopher - Crawford School of Public Policy, Australian National … - 2013
Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the...
Persistent link: https://www.econbiz.de/10011185996
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Has the Euro Affected the Choice of Invoicing Currency?
Ligthart, Jenny E.; Werner, Sebastian E. V. - Crawford School of Public Policy, Australian National … - 2011
We present a new approach to study empirically the effect of the introduction of the euro on the pattern of currency invoicing. Our approach uses a compositional multi- nomial logit model, in which currency choice is explained by both currency-specific and country-specific determinants. We use...
Persistent link: https://www.econbiz.de/10011186007
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The Boy Who Cried Bubble: Public Warnings against Riding Bubbles
Asako, Yasushi; Ueda, Kozo - Crawford School of Public Policy, Australian National … - 2014
Attempts by governments to stop bubbles by issuing warnings seem unsuccessful. This paper examines the effects of public warnings using a simple model of riding bubbles. We show that public warnings against a bubble can stop it if investors believe that a warning is issued in a definite range of...
Persistent link: https://www.econbiz.de/10010904306