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On the Distributive Effects of Terms of Trade Shocks; The Role of Non-Tradable Goods

International Monetary Fund (IMF); International … - 2010

We introduce non-tradable goods to the Heckscher-Ohlin-Samuelson (HOS) model to study the distributive effects of terms of trade shocks. We show that the employment of resources in activities producing exclusively for the local market induces a crucial association between domestic spending and...

Persistent link: https://www.econbiz.de/10008727799

Financial globalization : a compilation of articles from Finance & development

Clift, Jeremy (contributor); Diehl, Elisa (contributor) - 2007

Assiduously tracking the trends and consequences of globalization, the IMF's quarterly magazine Finance & Development … focuses on financial globalization, including the policy implications of the huge growth in cross-border capital flows …. Articles also look at the expansion of world trade, explore the impact of globalization on jobs, taxation, and the poor, a …

Persistent link: https://www.econbiz.de/10012673982

Integrating Europe's financial markets

Decressin, Jörg (contributor); Faruqee, Hamid (contributor) - 2007

By and large, EU financial integration has been a success story. Still, the reform agenda is far from finished. What are the remaining challenges going forward? What are the gains of closer financial market integration? This IMF book tracks the European Union's journey along the path to a single...

Persistent link: https://www.econbiz.de/10012673981

Crouching Tiger, Hidden Dragon; What Are the Consequences of China's WTO Entry for India'S Trade

International Monetary Fund (IMF); International … - 2005

One of the most significant recent developments in world trade has been the entry of China into the World Trade Organization (WTO). This paper examines the implications of China's WTO accession for India's trade, using both econometrics and computable general equilibrium (CGE) models. The paper...

Persistent link: https://www.econbiz.de/10005599289

Business Cycles in Emerging Markets; The Role of Durable Goods and Financial Frictions

International Monetary Fund (IMF); International … - 2011

This paper examines how durable goods and financial frictions shape the business cycle of a small open economy subject to shocks to trend and transitory shocks. In the data, nondurable consumption is not as volatile as income for both developed and emerging market economies. The simulation of...

Persistent link: https://www.econbiz.de/10009151224

The Credit Boom in the EU New Member States; Bad Luck or Bad Policies?

International Monetary Fund (IMF); International … - 2010

In the past decade, most of the EU New Member States experienced a severe credit-boom bust cycle. This paper argues that the credit boom-bust cycle was to a large extent the result of factors external to the region (â€œbad luckâ€). Rapid credit growth followed from a high liquidity in...

Persistent link: https://www.econbiz.de/10008560433

Income Inequality and Redistributive Government Spending

International Monetary Fund (IMF); International … - 2003

The paper examines empirically the question of whether more unequal societies spend more on income redistribution than their more egalitarian counterparts. Theoretical arguments on this issue are inconclusive. The political economy literature suggests that redistributive spending is higher in...

Persistent link: https://www.econbiz.de/10005248211

Financial Crises, Poverty, and Income Distribution

International Monetary Fund (IMF); International … - 2002

Developing and transition economies are prone to financial crises, including balance of payments and banking crises. These crises affect poverty and the distribution of income through a variety of channels: slowdowns in economic activity, relative price changes, and fiscal retrenchment, among...

Persistent link: https://www.econbiz.de/10005264050

Oil Shocks and External Balances

International Monetary Fund (IMF); International … - 2007

This paper studies the effects of demand and supply shocks in the global crude oil market on several measures of countries' external balance, including the oil and non-oil trade balances, the current account, and changes in net foreign assets (NFA) during 1975-2004. We explicitly take a global...

Persistent link: https://www.econbiz.de/10005264112

When and Why Worry About Real Exchange Rate Appreciation? The Missing Link Between Dutch Disease and Growth

International Monetary Fund (IMF); International … - 2010

We review the literature on Dutch disease, and document that shocks that trigger foreign exchange inflows (such as natural resource booms, surges in foreign aid, remittances, or capital inflows) appreciate the real exchange rate, generate factor reallocation, and reduce manufacturing output and...

Persistent link: https://www.econbiz.de/10008777021