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Investment-Saving Comovement under Endogenous Fiscal Policy

Levy, Daniel - EconWPA - 2005

. Using this model, I demonstrate how a positive investment-saving correlation can arise in a world with endogenous fiscal … capital mobility. This implies that the observed investment- saving comovement is not necessarily due to imperfect capital … mobility. The model has a testable implication: it predicts a lack of Granger causality from private saving to private …

Persistent link: https://www.econbiz.de/10005119430

Monetary Policy under Sudden Stops

Cúrdia, Vasco - EconWPA - 2005

Emerging markets are often exposed to sudden stops of capital inflows. What are the effects of monetary policy in such an environment? To answer this question, the paper proposes a model with the typical elements of an emerging market economy. Credit frictions generate balance sheet effects,...

Persistent link: https://www.econbiz.de/10005062691

Assessing Financial Vulnerability in Partially Dollarized Economies

Moron, Eduardo; Castro, Juan F.; Winkelried, Diego - EconWPA - 2004

exchange rate, when assessing financial vulnerability. If we asses vulnerability in terms of the evolution of investment, we …

Persistent link: https://www.econbiz.de/10005408161

Fear of Floating: An optimal discretionary monetary policy analysis

Bokil, Madhavi - EconWPA - 2005

traded goods sector also displays greater aversion for exchange rate volatility. …

Persistent link: https://www.econbiz.de/10005408203

Non-linear real exchange rate effects in the UK labour market

Legrenzi, Gabriella; Milas, Costas - EconWPA - 2004

Using data over the 1973q1-2004q1 period, this paper identifies an important role for the real exchange rate in affecting UK labour market conditions. When the real exchange rate is undervalued, short-run unemployment falls as firms respond to an improvement in domestic competitiveness by...

Persistent link: https://www.econbiz.de/10005556606