Similar Search Results

What Can a New Keynesian Labor Matching Model Match?

Reicher, Christopher - Institut für Weltwirtschaft (IfW) - 2009

A labor matching model with nominal rigidities can match short-run movements in labor’s share with some success. However, it cannot explain much of the behavior of employment, vacancies, and job flows in postwar US data without resorting to additional shocks beyond monetary policy and...

Persistent link: https://www.econbiz.de/10005700617

Exchange Rate Policy in a Dollarized Economy: A CGE Analysis for Bolivia

Schweickert, Rainer; Thiele, Rainer; Wiebelt, Manfred - Institut für Weltwirtschaft (IfW) - 2005

effects of exchange rate policy in a highly dollarized economy. Overall, dollarization appears to matter more through real … by the shock. Financial de-dollarization tends to be contractionary in Bolivia but different degrees of financial … dollarization hardly change the real sector effects. As concerns distributional effects, nominal devaluation in no circumstance …

Persistent link: https://www.econbiz.de/10010886975

Financial Dollarization and Currency Substitution. An Empirical Study for Bolivia America than in Asia?

Dell'Erba, Salvatore; Zambrana, Martin Saldías - Institut für Weltwirtschaft (IfW) - 2006

The Bolivian puzzle is high and persistent financial dollarization notwithstanding deep macroeconomic stabilization … and new approaches to explain dollarization in Bolivia. We first assess the currency substitution approach and then assess … the empirical evidence for the financial dollarization approach. The results show that the macroeconomic variables capture …

Persistent link: https://www.econbiz.de/10005755109

The triffin dilemma again

Campanella, Edoardo - Institut für Weltwirtschaft (IfW) - 2009

international finance. In the paper I show how it works through three examples: price of commodities, dollarization, and the …

Persistent link: https://www.econbiz.de/10008561118

The Demand for Currency Substitution

Seater, John J. - Institut für Weltwirtschaft (IfW) - 2008

A transactions model of the demand for multiple media of exchange is developed. Some results are expected, and others are both new and surprising. There are both extensive and intensive margins to currency substitution, and inflation may affect the two margins differently, leading to subtle...

Persistent link: https://www.econbiz.de/10005083370

Are current account deficits sustainable? New evidence from Iran using bounds test approach to level relationship

Heidari, Hassan; Katircioglu, Salih Turan; Davoudi, Narmin - Institut für Weltwirtschaft (IfW) - 2012

This paper provides new evidence on the long-run relationship between exports and imports of the Iranian economy by employing bounds test approach to level relationship. In Iran, there have been many unusual policy changes and/or external shocks to the economy which resulted in the occurrence of...

Persistent link: https://www.econbiz.de/10010956087

Current Account Imbalances and Income Inequality: Theory and Evidence

Al-Hussami, Fares; Remesal, Álvaro Martín - Institut für Weltwirtschaft (IfW) - 2012

In this paper we analyze theoretically and empirically the impact of an increase in income inequality on the current account balance. We develop a model with consumption externalities and heterogeneous agents which explains how an increase in income inequality can affect negatively or positively...

Persistent link: https://www.econbiz.de/10010886828

A Note on Human Capital and the Feldstein-Horioka Puzzle

Katsimi, Margarita; Moutos, Thomas - Institut für Weltwirtschaft (IfW) - 2007

In this paper we reexamine the Feldstein-Horioka finding of limited international capital mobility by using a broader view (i.e., including human capital) of investment and saving. We find that the Feldstein-Horioka result is impervious to this change.

Persistent link: https://www.econbiz.de/10005083333

Should We Trust the Empirical Evidence from Present Value Models of the Current Account?

Mercereau, Benoît; Miniane, Jacques Alain - Institut für Weltwirtschaft (IfW) - 2008

The present value model of the current account has been very popular, as it provides an optimal benchmark to which actual current account series have often been compared. We show why persistence in observed current account data makes the estimated optimal series very sensitive to small-sample...

Persistent link: https://www.econbiz.de/10005083366

Global Current Account Imbalances and Exchange Rate Adjustment: The Role of Oil Suppliers Valuation Effects and Interest Rate Changes

Oberpriller, Christian M. - Institut für Weltwirtschaft (IfW) - 2007

The present paper extends the Obstfeld and Rogoff (2005) framework of current account imbalances by the oil exporting countries as a fourth region. It sets the stage for a variety of analysis that can be conducted within a four-region-setting that accounts for the importance of OPEC as a major...

Persistent link: https://www.econbiz.de/10005700490