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THE UNDERGROUND ECONOMY AND THE CURRENCY ENIGMA

Feige, Edgar L. - EconWPA - 2005

The size, growth and causes of the US “underground economy” are examined in light of new estimates of foreign holdings of US currency. World dollarization partially resolves the “currency enigma” which refers to the anomaly that roughly 80% of the US currency supply is “missing” and...

Persistent link: https://www.econbiz.de/10005076736

Canaries and Vultures: A Quantitative History of Monetary Mismanagement in Brazil

Albuquerque, Pedro H.; Gouvea, Solange - EconWPA - 2005

During the last two decades of the twentieth century, Brazil went through a sequence of failed stabilization plans that tried to cope with an enduring hyperinflation. This paper uses a money demand model to evaluate monetary policies during those episodes. The consistency between the money...

Persistent link: https://www.econbiz.de/10005124863

MONETARY POLICY AND NOT MONETARY CONTROL: A RETHINKING

salvary, stanley c. w. - EconWPA - 2005

The view that prediction is the only important concern when policy is to be developed has led to the strict adherence to a money supply rule via the Quantity Theory of Money with its debilitating consequences. The monetarists place the emphasis on the level of the money supply in the...

Persistent link: https://www.econbiz.de/10005126389

OVERSEAS HOLDINGS OF U.S.CURRENCY AND THE UNDERGROUND ECONOMY

Feige, Edgar L. - EconWPA - 2005

Many public policy decisions require analytical and empirical knowledge concerning the size, growth, causes and consequences of the ‘underground economy”. This paper seeks to clarify the meaning of underground activity, updates various discrepancy and fiscal estimates of its size and growth,...

Persistent link: https://www.econbiz.de/10005561083

Capital Flows and Domestic Financial Sector in India

Kohli, Renu - EconWPA - 2004

This paper examines the impact of capital flows on the domestic financial sector in India. Inflow of foreign capital, it is found, has a significant impact on domestic money supply and stock market growth, liquidity and volatility. The banking sector, however, remains relatively insulated due to...

Persistent link: https://www.econbiz.de/10005119480

Measuring China's Fiscal Policy Stance

Dullien, Sebastian - EconWPA - 2005

deficit or cyclically adjusted budget deficits is misleading in the case of China, since a lot of what usually would be …-cyclical in China over the past two decades. …

Persistent link: https://www.econbiz.de/10005076727

China's Changing Competitive Position: Lessons from a Unit-Labor- Cost-Based REER

Dullien, Sebastian - EconWPA - 2005

This paper calculates a unit labor-cost based real effective exchange rate for China for the period 1987-2002. It …

Persistent link: https://www.econbiz.de/10005124915

China and Neo-liberal Constitutionalism

Killion, M. Ulric - EconWPA - 2004

This article discusses the probability of growth of neoliberalism in modern China and its implications for Chinese … constitutionalism. A China polity under the vision of a neo-liberal regime engenders problems of prescribing a legal system and … historicity of Western liberalism and China's ontological base in tradition, being Confucianism. The historic excesses and abuses …

Persistent link: https://www.econbiz.de/10005124920

Optimal Monetary Policy Rules in A Simple Stochastic Macro Model: China's Evidence

Wang, Shengzu; Guo, Shen - EconWPA - 2005

In this paper we apply a simple macro model to explore and evaluate certain optimal monetary policy rules for China …'s economy. To be more consistent with the central bank (the People's Bank of China)'s behaviour, we use money supply as a …

Persistent link: https://www.econbiz.de/10005126241

Monitoring Costs and the Mode of International Investment

Lin, Chu-Chia S.; Png, Ivan P.L. - EconWPA - 2002

direct investments in Mainland China provide robust support to the hypothesis. A project that was located 1000 kilometers …

Persistent link: https://www.econbiz.de/10005134453