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Exchange rates, capital flows, and monetary policy in a changing world economy : proceedings of a Conference, Federal Reserve Bank of Dallas, Dallas, Texas, September 14 - 15, 1995

Gruben, William C. (ed.); Gould, David (contributor); … - 1997

Persistent link: https://www.econbiz.de/10000626594

Global liquidity trap

Fujiwara, Ippei; Sudo, Nao; Nakajima, Tomoyuki; … - Federal Reserve Bank of Dallas - 2010

In this paper we consider a two-country New Open Economy Macroeconomics model, and analyze the optimal monetary policy when countries cooperate in the face of a "global liquidity trap"--i.e., a situation where the two countries are simultaneously caught in liquidity traps. The notable features...

Persistent link: https://www.econbiz.de/10008598686

Is openness inflationary? Imperfect competition and monetary market power

Evans, Richard W. - Federal Reserve Bank of Dallas - 2007

Much empirical work has documented a negative correlation between different measures of globalization or openness and …

Persistent link: https://www.econbiz.de/10005367952

Globalization and monetary policy: an introduction

Martinez-Garcia, Enrique - Federal Reserve Bank of Dallas - 2008

Greater openness has become an almost universal feature of modern, developed economies. This paper develops a workhorse international model, and explores the role of standard monetary policy rules applied to an open economy. For this purpose, I build a two-country DSGE model with monopolistic...

Persistent link: https://www.econbiz.de/10005367953

Some preliminary evidence on the globalization-inflation nexus

Guilloux, Sophie; Kharroubi, Enisse - Federal Reserve Bank of Dallas - 2008

The aim of this paper is to evaluate the impact of globalization, if any, on inflation and the inflation process. We … concluded that globalization has had no significant impact, this paper highlights that trying to capture globalization effects … trade volume statistics to properly describe the impact of globalization. This leads us to adopt a more systematic approach …

Persistent link: https://www.econbiz.de/10005367957

The real exchange rate in sticky price models: does investment matter?

Martinez-Garcia, Enrique; Søndergaard, Jens - Federal Reserve Bank of Dallas - 2008

This paper re-examines the ability of sticky-price models to generate volatile and persistent real exchange rates. We use a DSGE framework with pricing-to-market akin to those in Chari, et al. (2002) and Steinsson (2008) to illustrate the link between real exchange rate dynamics and what the...

Persistent link: https://www.econbiz.de/10005367958

Variety, globalization, and social efficiency

Cox, W. Michael; Ruffin, Roy J. - Federal Reserve Bank of Dallas - 2008

Dixit-Stiglitz-Krugman model of monopolistic competition. We show how the gains from globalization are reflected in the … of sectors where globalization increases productivity through economies of scale. …

Persistent link: https://www.econbiz.de/10005367959

Technical note on "The real exchange rate in sticky price models: does investment matter?"

Martinez-Garcia, Enrique; Søndergaard, Jens - Federal Reserve Bank of Dallas - 2008

This technical note is developed as a mathematical companion to the paper "The Real Exchange Rate in Sticky Price Models: Does Investment Matter?" (Institute working paper no. 17). It contains three basic calculations. First, we derive the equilibrium conditions of the model. Second, we compute...

Persistent link: https://www.econbiz.de/10005367963

Globalization and inflation in Europe

Auer, Raphael; Degen, Kathrin; Fischer, Andreas M. - Federal Reserve Bank of Dallas - 2010

What is the impact of import competition from other low-wage countries (LWCs) on inflationary pressure in Western Europe? This paper seeks to understand whether labor-intensive exports from emerging Europe, Asia, and other global regions have a uniform impact on producer prices in Germany,...

Persistent link: https://www.econbiz.de/10008739772

The southern states in a globalized economy

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2007

--in mastering--globalization. The key to adapting to and profiting from globalization lies in education." …

Persistent link: https://www.econbiz.de/10010723042