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The Philippine Central Bank's Monetary Policy Reaction Function from 1992 to 2003
Salas, John Michael Ian S. - EconWPA - 2004
This paper attempts to provide an empirical determination of the Philippine central bank's (BSP) recent monetary policy stance, before and after its adoption of the inflation targeting framework, as revealed by its interest rate setting behavior. Employing Clarida, Gali, and Gertler's (1998,...
Persistent link: https://www.econbiz.de/10005561255
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INCOME CONVERGENCE DURING THE DISINTEGRATION OF THE WORLD ECONOMY 1919-39
Milanovic, Branko - EconWPA - 2003
Some economists have argued that the process of disintegration of the world economy between the two World Wars led to …
Persistent link: https://www.econbiz.de/10005076560
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The Ricardian Vice: Why Sala-i-Martin’s calculations of world income inequality are wrong
Milanovic, Branko - EconWPA - 2003
The paper discusses recent world income inequality calculations by Sala- i-Martin. It shows that the two main problems … of income augmented by a constant shift parameter and not a distribution of income among world citizens. …
Persistent link: https://www.econbiz.de/10005134630
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THE TWO FACES OF GLOBALIZATION: AGAINST GLOBALIZATION AS WE KNOW IT
Milanovic, Branko - EconWPA - 2003
The paper shows that the current view of globalization as an automatic and benign force is flawed: it focuses on only … one, positive, face of globalization while entirely neglecting a malignant one. The two key historical episodes that are … adduced by the supporters of the “globalization as it is” (the Halcyon days of the 1870-1913, and the record of the last two …
Persistent link: https://www.econbiz.de/10005118746
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(Un)Predictability and Macroeconomic Stability
D'Agostino, Antonello; Giannone, Domenico; Surico, Paolo - EconWPA - 2005
This paper documents a new stylized fact of the U.S. greater macroeconomic stability of the last two decades or so. Using 131 monthly time series, three popular statistical methods and the forecasts of the Federal Reserve's Green book and the Survey of Professional Forecasters, we show that the...
Persistent link: https://www.econbiz.de/10005076800
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How the gold standard functioned in Portugal: an analysis of some macroeconomic aspects
Duarte, António Portugal; Andrade, João Sousa - EconWPA - 2005
This paper studies the Gold Standard in Portugal. It was the first country in Europe to join Great Britain in 1854. The principle of free gold convertibility was abandoned in 1891. For the purposes of a macroeconomic study, we also extended the analysis up to 1913. Our study points out the...
Persistent link: https://www.econbiz.de/10005412543
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Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe
Grauwe, Paul De; Schnabl, Gunther - EconWPA - 2004
The IMF classifications of the Central and Eastern European exchange rate arrangements are heterogeneous. While one group of countries reports tight pegs to the euro, a second group seems to have moved toward (more) exchange rate flexibility. Based on the recent discussion about the accuracy of...
Persistent link: https://www.econbiz.de/10005556602
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Growth, private investment and reforms : A comparative perspective
KAMEL, Ghazouani - EconWPA - 2005
considerably among them selves as well as with regard to the rest of the world, in terms of resources endowment, structure of …
Persistent link: https://www.econbiz.de/10005556730
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Review of Peter J. Montiel 'Macroeconomics in Emerging Markets'
Haas, Ralph de - EconWPA - 2004
Review of Peter J. Montiel 'Macroeconomics in Emerging Markets'
Persistent link: https://www.econbiz.de/10005076685
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Hayek´s Accelerationism: A Rectification
Hauwe, Ludwig van den - EconWPA - 2005
The analogy between Hayekian monetary dynamics and the Friedman/Phelps accelerationist hypothesis is more problematic than some commentators have been prepared to admit.
Persistent link: https://www.econbiz.de/10005076706