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Sustainability of Fiscal Deficits : The US Experience 1929-2004
Jayawickrama, Ananda; Abeysinghe, Tilak - East Asian Bureau of Economic Research (EABER) - 2006
Recurrent large fiscal deficits and accumulating public debt frequently ring alarm bells around the world on the sustainability of U.S. federal fiscal policy. The present-value borrowing constraint, which states that, for the fiscal policy to be sustainable the current debt stock should match...
Persistent link: https://www.econbiz.de/10009363284
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TARGET SAVING IN AN OVERLAPPING GENERATIONS MODEL
Guha, Ashok S.; Guha, Brishti - East Asian Bureau of Economic Research (EABER) - 2008
We examine a model in which the utility function has been engineered so that it is optimal for consumers to aim for a fixed target level of retirement resources. In this case consumption displays excess sensitivity to current income as well as perfect old age insurance. In an overlapping...
Persistent link: https://www.econbiz.de/10009365508
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Direction-of-Change Forecasts Based on Conditional Variance, Skewness and Kurtosis Dynamics : International Evidence
Christoffersen, Peter F.; Diebold, Francis X.; Mariano, … - East Asian Bureau of Economic Research (EABER) - 2006
Recent theoretical work has revealed a direct connection between asset return volatility forecastability and asset … return sign forecastability. This suggests that the pervasive volatility forecastability in equity returns could, via induced …
Persistent link: https://www.econbiz.de/10009363828
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Direction-of-Change Forecasts Based on Conditional Variance, Skewness and Kurtosis Dynamics : International Evidence
Tay, Anthony S.; Christoffersen, Peter F.; Diebold, … - East Asian Bureau of Economic Research (EABER) - 2006
Recent theoretical work has revealed a direct connection between asset return volatility forecastability and asset … return sign forecastability. This suggests that the pervasive volatility forecastability in equity returns could, via induced …
Persistent link: https://www.econbiz.de/10009363861
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An Analysis of the Special Safeguard Mechanisms in the Doha Round of Negotiations - A Proposed Price-trigger-based Safeguard Mechanism
Pal, Parthapratim; Wadhwa, Deepika - East Asian Bureau of Economic Research (EABER) - 2006
In the Doha Round of negotiations on agriculture it has been decided that all developing and least developed Member countries of the WTO will have access to a Special Safeguard Mechanism (SSM). This means that developing countries will now have the option to temporarily impose higher tariff...
Persistent link: https://www.econbiz.de/10009365123
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Real Exchange Rate Dynamics in the Presence of Nontraded Goods and Transaction Costs
LEE, Inkoo; SHIN, Jonghyup - East Asian Bureau of Economic Research (EABER) - 2008
volatility of the real exchange rate. In addition, the sensitivity analysis shows that our model can rationalize more than 97% of … both persistence and volatility of the real exchange rate. Our analysis suggests that the purchasing price parity puzzle …
Persistent link: https://www.econbiz.de/10009365409
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Impact Of Proposed Commodity Transaction Tax On Futures Trading In India
Sahoo, Pravakar; Kumar, Rajiv - East Asian Bureau of Economic Research (EABER) - 2008
taxes is to contain price rise and volatility, to generate revenue, and to increase transparency, these arguments are …, volatility and transaction cost using a three-equation structural model for five top selected commodities namely Gold, Copper … cost and liquidity, and a positive relationship between transaction cost and volatility. Therefore, if the government …
Persistent link: https://www.econbiz.de/10009365429
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A Structuralist Model of the Small Open Economy in the Short, Medium and Long Run
Hoon, Hian Teck; Phelps, Edmund S. - East Asian Bureau of Economic Research (EABER) - 2005
Open-economy macroeconomics contains a monetary model in the Keynesian tradition that is deemed serviceable for analyzing the short run and a nonmonetary neoclassical model thought capable of handling the long run. But do the Keynesian and neoclassical models meet the challenges thrown out by...
Persistent link: https://www.econbiz.de/10009363909
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A Structuralist Model of the Small Open Economy in the Short, Medium and Long Run
Hoon, Hian Teck; Phelps, Edmund S. - East Asian Bureau of Economic Research (EABER) - 2007
Open-economy macroeconomics contains a monetary model in the Keynesian tradition that is deemed serviceable for analyzing the short run and a nonmonetary neoclassical model thought capable of handling the long run. But do the Keynesian and neoclassical models meet the challenges thrown out by...
Persistent link: https://www.econbiz.de/10009365495
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Asia and The G20
Drysdale, Peter; Willis, Sébastien - East Asian Bureau of Economic Research (EABER) - 2013
The industrial transformation of Asia is a development on a scale unprecedented in human history. Following the industrial revolution towards the end of the eighteenth century, Europe and North America each in turn came to dominate the world economy and global power. Now economic weight is...
Persistent link: https://www.econbiz.de/10011277990