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Politics, economics and investment: explaining plant and equipment spending by U.S. direct investors in Argentina, Brazil, and Mexico

Stevens, Guy V.G. - Federal Reserve Board (Board of Governors of the … - 1994

manufacturing affiliates of U.S. multinationals in Argentina, Brazil, and Mexico. The results of these tests show that the …

Persistent link: https://www.econbiz.de/10005368143

Argentina's experience with parallel exchange markets: 1981-1990

Kamin, Steven B. - Federal Reserve Board (Board of Governors of the … - 1991

This paper surveys the development and operation of the parallel exchange market in Argentina during the 1980s, and … evaluates its impact upon macroeconomic performance and policy. The historical evolution of Argentina's exchange market policies … effective enough in Argentina to allow the authorities to set the commercial exchange rate independently of the parallel market …

Persistent link: https://www.econbiz.de/10005368266

Real interest rates during the disinflation process in developing countries

Kamin, Steven B.; Spigelman, David F. - Federal Reserve Board (Board of Governors of the … - 1988

experiences of disinflation in Argentina and Israel. To better understand this behavior, we develop a very general model of … framework described above is used to examine the response of real interest rates to Argentina's disinflation in 1985. We show …

Persistent link: https://www.econbiz.de/10005368369

The Tequila effect: theory and evidence from Argentina

Uribe, Martin - Federal Reserve Board (Board of Governors of the … - 1996

The Tequila Effect hypothesis states that the economic crisis that affected several South American countries in 1995 was caused by an exogenous capital flight triggered by the loss of confidence of foreign investors after the collapse of the Mexican peso in December 1994. I analyze the recent...

Persistent link: https://www.econbiz.de/10005368479

Dollarization in Argentina

Kamin, Steven B.; Ericsson, Neil R. - Federal Reserve Board (Board of Governors of the … - 1993

Argentina became highly "dollarized" during its hyperinflations of 1989 and early 1990. Although inflation has returned …pirically, these components of dollar assets for Argentina have responded differently to recent macroeconomic shocks. ; Second …, cointegration analysis of peso money demand in Argentina finds a negative "ratchet effect" from inflation on the demand for pesos …

Persistent link: https://www.econbiz.de/10005498817

Optimal monetary and fiscal policy: a linear-quadratic approach

Benigno, Pierpaolo; Woodford, Michael - Federal Reserve Board (Board of Governors of the … - 2004

We propose an integrated treatment of the problems of optimal monetary and fiscal policy, for an economy in which prices are sticky (so that the supply-side effects of tax changes are more complex than in standard fiscal analyses) and the only available sources of government revenue are...

Persistent link: https://www.econbiz.de/10005368129

Anticipated fiscal contraction: the economic consequences of the announcement of Gramm-Rudman-Hollings

Johnson, Robert A. - Federal Reserve Board (Board of Governors of the … - 1986

The announcement of a plan to cut the U.S. federal budget deficit through the Gramm-Rudman-Hollings legislation provides an excellent opportunity to examine the influence of expectations on economic behavior. This paper presents a small forward-looking macroeconomic model and simulates the...

Persistent link: https://www.econbiz.de/10005368154

Ramsey meets Hosios: the optimal capital tax and labor market efficiency

Arseneau, David M.; Chugh, Sanjay K. - Federal Reserve Board (Board of Governors of the … - 2006

Heterogeneity between unemployed and employed individuals matters for optimal fiscal policy. This paper considers the consequences of welfare heterogeneity between these two groups for the determination of optimal capital and labor income taxes in a model with matching frictions in the labor...

Persistent link: https://www.econbiz.de/10005368396

Comparing the welfare costs and the initial dynamics of alternative temporary stabilization policies

Uribe, Martin - Federal Reserve Board (Board of Governors of the … - 1996

This paper compares the welfare costs and initial dynamics of three alternative inflation stabilization policies using the staggered price model with imperfect credibility and currency substitution developed by Calvo and Vegh (1990). In addition to the policies analyzed by Calvo and Vegh...

Persistent link: https://www.econbiz.de/10005368453

International comparisons of fiscal policy: the OECD and the IMF measures of fiscal impulse

Schinasi, Garry J. - Federal Reserve Board (Board of Governors of the … - 1986

Both the OECD and the IMF periodically estimate and publish measures of fiscal impulse to gauge the extent to which fiscal policy in the major industrial countries has become more or less expansive over time. This paper compares these measures analytically and numerically. The paper shows that...

Persistent link: https://www.econbiz.de/10005372595