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fiscal policy influences financial variables, and that growing internationalization has increased the sensitivity of … financial conditions to fiscal policy. The core of the argument is that fiscal policy influences exchange rates, particularly to … sensitivity of exchange rates to fiscal policy increases with growing internationalization. In addition, financial conditions …
Persistent link: https://www.econbiz.de/10014396354
evolution and its policy with regard to internationalization of the capital market. The paper analyzes problems encountered in …
Persistent link: https://www.econbiz.de/10014395771
Persistent link: https://www.econbiz.de/10009424793
Persistent link: https://www.econbiz.de/10009424867
Persistent link: https://www.econbiz.de/10003152158
This paper examines the emergence of financial stability as a key policy objective. It discusses the underlying trends … in the financial system, as well as the role of finance in relation to money, the real economy, and public policy … analysis and assessment of financial stability, and maps out broad policy implications …
Persistent link: https://www.econbiz.de/10014404178
This paper describes the result and the methodology of updating nominal and real effective exchange rate weights on the basis of trade data over 1999-2001. The underlying framework is an updated version of the IMF''s current effective exchange rate calculation, which uses weights largely based...
Persistent link: https://www.econbiz.de/10014400539
Based on cross-country data for up to 78 countries, this paper shows that fiscal decentralization-the assignment of expenditure and revenue mobilization functions to subnational levels of government-is associated with various indicators of governance, such as corruption, rule of law, and...
Persistent link: https://www.econbiz.de/10014401240
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/10014401265
The 2008 crisis underscored the interconnectedness of the international business cycle, with U.S. shocks leading to the largest global slowdown since the 1930s. We estimate spillover effects across major advanced country regions in a structural VAR (SVAR) using pre-crisis data. Our new method...
Persistent link: https://www.econbiz.de/10014402644