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Exchange Rate Based Stabilization with Sudden Restrictions on Capital Flows

Subramanian, Chetan; Park, Jungsoo - Econometric Society - 2004

This study examines the dynamics associated with an economy implementing an Exchange Rate Based Stabilization (ERBS) programs when they are subject to sudden restrictions in international capital flows. In the context of a simple theoretical model, we describe the pressures on a country's...

Persistent link: https://www.econbiz.de/10005342385

Dollarization Traps

Duffy, John; Nikitin, Maxim - Econometric Society - 2004

particular, Argentina, Bolivia, Peru, Russia, and Ukraine remained highly dollarized long after the inflation rate was reduced to … economies that higher inflation has a negative impact on output and financial intermediation, that dollarization and capital … dollarization hysteresis paradox and several other stylized facts. The key link between inflation, dollarization, and capital …

Persistent link: https://www.econbiz.de/10005129775

Dollarization Traps

Duffy, John; Nikitin, Maxim - Econometric Society - 2004

Persistent link: https://www.econbiz.de/10005130227

Forecasting Industry-Level CPI and PPI Inflation: Does Exchange Rate Pass-Through Matter?

Thomakos, Dimitrios D.; Bhattacharya, Prasad S. - Econometric Society - 2004

In this paper, we examine whether industry-level forecasts of CPI and PPI inflation can be improved using the … a two or three equation system involving CPI and PPI inflation where the effects of the exchange rate and import prices … time series models, as well as with a model that, in addition, includes standard control variables for inflation, like …

Persistent link: https://www.econbiz.de/10005702549

Market Discipline under Systemic Risk: Evidence from Bank Runs in Emerging Economies

Schmukler, Sergio L.; Levy-Yeyati, Eduardo; Peria, … - Econometric Society - 2004

This paper shows that systemic risk exerts a significant impact on the behavior of depositors, sometimes overshadowing their responses to standard bank fundamentals. Systemic risk can affect market discipline both regardless of and through bank fundamentals. First, worsening systemic conditions...

Persistent link: https://www.econbiz.de/10005328877

Pass-through from exchange rate to prices in Brazil:an analysis using time-varying parameters for the 1980 â€“ 2002 period

Albuquerque, Christiane R.; Portugal, Marcelo S. - Econometric Society - 2004

The aim of the present paper is to analyze the pass-through from exchange rate to inflation in Brazil from 1980 to 2002 …

Persistent link: https://www.econbiz.de/10005328886

Sources and Propagation Mechanims of Foreign Disturbances in Small Open Economies: A Dynamic Factor Analysis

Justiniano, Alejandro - Econometric Society - 2004

This paper uses dynamic factor analysis to investigate the sources of foreign shocks and the propagation mechanism of these disturbances into two small open economies, Australia and Canada. Panels including a variety of foreign and domestic series for each country are used to estimate the...

Persistent link: https://www.econbiz.de/10005328892

Trade Costs and Real Exchange Rate Volatility

Giovanni, Claudio Bravo-Ortega AND Julian di - Econometric Society - 2004

This paper examines the impact of trade costs on real exchange rate volatil- ity. We model two channels endogenously in a Ricardian framework: (i) non- tradability and (ii) heterogeneous suppliers of traded goods. The Â¯rst channel is examined by constructing a two-country Ricardian model of...

Persistent link: https://www.econbiz.de/10005328910

Currency Substitution, Portfolio Diversification and Money Demand

Freitas, Miguel Lebre de - Econometric Society - 2004

The paper explores the implications of means of payment substitutability and capital mobility on the properties of the money demand, using the Thomas (1985) stochastic dynamic optimising model, where the specific role of money is explicitly accounted for. Extending the model to a case in which...

Persistent link: https://www.econbiz.de/10005328925

Why does not capital frlow from rich to poor countries? An Empirical investigation

Alfaro, Laura; Kalemli-Ozcan, Sebnem - Econometric Society - 2004

We examine the role of different explanations for the lack of flows of capital from rich to poor countries---the Lucas paradox---in an empirical framework. Broadly speaking, the theoretical explanations for this paradox include differences in fundamentals affecting the production structure...

Persistent link: https://www.econbiz.de/10005342232