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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

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

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

The dynamics of economics functions: modelling and forecasting the yield curve

Bowsher, Clive G.; Meeks, Roland - Federal Reserve Bank of Dallas - 2008

The class of Functional Signal plus Noise (FSN) models is introduced that provides a new, general method for modelling and forecasting time series of economic functions. The underlying, continuous economic function (or "signal") is a natural cubic spline whose dynamic evolution is driven by a...

Persistent link: https://www.econbiz.de/10005346105

Information costs, networks and intermediation in international trade

Petropoulou, Dimitra - Federal Reserve Bank of Dallas - 2011

This paper is motivated by the observation that intermediaries play an important role in international trade. The matching role of intermediaries is examined in a pairwise matching model with two-sided information asymmetry, where intermediaries develop contacts. Intermediation expands the set...

Persistent link: https://www.econbiz.de/10009292918

Indeterminacy and forecastability

Fujiwara, Ippei; Hirose, Yasuo - Federal Reserve Bank of Dallas - 2011

Recent studies document the deteriorating performance of forecasting models during the Great Moderation. This conversely implies that forecastability is higher in the preceding era, when the economy was unexpectedly volatile. We offer an explanation for this phenomenon in the context of...

Persistent link: https://www.econbiz.de/10009321088

The role of family networks, coyote prices and the rural economy in migration from Western Mexico: 1965-1994

Orrenius, Pia M. - Federal Reserve Bank of Dallas - 1999

Persistent link: https://www.econbiz.de/10005346050

Coyote crossings: the role of smugglers in illegal immigration and border enforcement

Guzman, Mark G.; Haslag, Joseph H.; Orrenius, Pia M. - Federal Reserve Bank of Dallas - 2002

Illegal immigration and border enforcement in the United States have increased concomitantly for over thirty years. One interpretation is that U.S. border policies have been ineffective. We offer an alternative view, extending the current immigration-enforcement literature by incorporating both...

Persistent link: https://www.econbiz.de/10005346108

U.S. banks, competition, and the Mexican banking system: how much will NAFTA matter?

Gruben, William C.; Welch, John H.; Gunther, Jeffery W. - Federal Reserve Bank of Dallas - 1994

Persistent link: https://www.econbiz.de/10005346127

A perspective on Mexico

Fisher, Richard W. - Federal Reserve Bank of Dallas - 2006

Remarks for the Jose Cuervo Tequila Talk, Institute of the Americas, La Jolla, California, April 5, 2006 ; "For Mexico … are key aspects of Mexico's comparative advantage vis-a-vis nations in Asia and Eastern Europe. A loss of competitiveness … in Mexico is a loss for the entire border economy, where so much of our growth is linked to expansion on the more …

Persistent link: https://www.econbiz.de/10010723078