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Macroeconomic Fundamentals, Price Discovery and Volatility Dynamics in Emerging Markets

International Monetary Fund - 2009

This study characterizes volatility dynamics in external emerging bond markets and examines how prices and volatility … markets are found to a¤ect both conditional returns and volatility, with the e¤ects on volatility being more pronounced and … volatility dynamics in external emerging bond markets …

Persistent link: https://www.econbiz.de/10014404285

Trade Costs and Real Exchange Rate Volatility : The Role of Ricardian Comparative Advantage

International Monetary Fund - 2005

This paper examines the impact of trade costs on real exchange rate volatility. We incorporate a multi … exchange rate volatility depends on relative technological differences and trade costs. These differences highlight a new … volatility. We then test the importance of this channel using a large panel of cross-country data over 1970-97, and find strong …

Persistent link: https://www.econbiz.de/10014399797

Remoteness and Real Exchange Rate Volatility

International Monetary Fund - 2005

This paper examines the impact of trade costs on real exchange rate volatility. The channel is examined by constructing … higher trade costs result in a larger nontradable sector. This, in turn, leads to higher real exchange rate volatility. We …

Persistent link: https://www.econbiz.de/10014404193

Asset Prices and Time-Varying Risk

International Monetary Fund - 1988

Observers have often characterized asset markets as being subject to periods of tranquility and periods of turbulence. Until recently, however, researchers were unable to produce closed-form asset pricing formulas in a model environment of time-varying risk. Some work by Abel provided us with...

Persistent link: https://www.econbiz.de/10014396175

Stock Prices, Real Exchange Rates, and Optimal Capital Accumulation

International Monetary Fund - 1988

This paper analyzes the dynamics of the real exchange rate and the price of equity for a small open economy using an optimizing model in which the process of capital accumulation entails adjustment costs. The analysis demonstrates that along an adjustment path toward long-run equilibrium,...

Persistent link: https://www.econbiz.de/10014396304

Balance of payments concepts and definitions

1976 - 2. ed. Reprinted

Persistent link: https://www.econbiz.de/10000577012

Following Germany'S Lead : Using International Monetary Linkages to Identify the Effect of Monetary Policyon the Economy

International Monetary Fund - 2005

Forward-looking behavior on the part of the monetary authority leads least squares estimates to understate the true growth consequences of monetary policy interventions. We present instrumental variables estimates of the impact of interest rates on real output growth for several European...

Persistent link: https://www.econbiz.de/10014400699

Fiscal Rules-Anchoring Expectations for Sustainable Public Finances

International Monetary Fund - 2009

The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules...

Persistent link: https://www.econbiz.de/10014410177

Indonesia : sustaining growth during global volatility

Rumbaugh, Thomas (contributor) - 2012

indicators, the contributors have delved into the ways that global volatility, especially since 2008, has affected Indones …

Persistent link: https://www.econbiz.de/10012676905

Guarding Against Fiscal Risks in Hong Kong SAR

International Monetary Fund - 2007

volatility creates risks to service provision, possibly entailing sudden tax changes, or even requiring new borrowing. After … fiscal savings (reserves), and the impact alternate policy choices could have on revenue volatility …

Persistent link: https://www.econbiz.de/10014400988

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