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Financial Soundness Indicators (FSIs) are measures that indicate the current financial health and soundness of a country's financial institutions, and their corporate and household counterparts. FSIs include both aggregated individual institution data and indicators that are representative of...
Persistent link: https://www.econbiz.de/10014410981
This paper examines the extent to which conclusions of cross-country studies of private savings are robust to allowing for the possible heterogeneity of savings behavior across countries and the inclusion of dynamics. It shows that neglecting heterogeneity and dynamics can lead to misleading...
Persistent link: https://www.econbiz.de/10014400163
The paper examines how the evolution from a classical centrally planned economy to a more market-oriented system will enhance the linkage between the exchange rate and the domestic price level. However, during the transition--as the economy continues to be predominantly state-owned, the...
Persistent link: https://www.econbiz.de/10014396482
This paper develops a simple model for measuring potential output that uses data on inflation, unemployment, and …
Persistent link: https://www.econbiz.de/10014403161
In the literature on exports and investment, most productive firms are seen to invest abroad. In the Helpman et al. (2004) model, costs of transportation play a critical role in the decision about whether to serve foreign customers by exporting, or by producing abroad. We consider the case of...
Persistent link: https://www.econbiz.de/10014403090
This paper seeks to advance the discussion of monetary policy strategies in several ways. One involves a comparison of targets for nominal GNP and the price level, with emphasis on specificational robustness and implications for output variability. A second pertains to various “indicator”...
Persistent link: https://www.econbiz.de/10014396173
This paper examines the dynamics of the foreign exchange market. The first half addresses a number of key questions regarding the forecasts of future exchange rates made by market participants, by means of updated estimates using survey data. Here we follow most of the theoretical and empirical...
Persistent link: https://www.econbiz.de/10014396182
This paper presents three empirical approaches to forecasting inflation in Pakistan. The preferred approach is a … leading indicators model in which broad money growth and private sector credit growth help forecast inflation. A univariate …
Persistent link: https://www.econbiz.de/10014400746
The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent … of return variables. However, deviations of M2 from its long-run equilibrium value do not significantly enhance inflation …. Nevertheless, changes in M2 do contain information about future inflation, consistent with the view that the demand for money …
Persistent link: https://www.econbiz.de/10014395786
Anecdotal evidence relates corruption with high levels of military spending. This paper tests empirically whether such a relationship exists. The empirical analysis is based on data from four different sources for up to 120 countries in the period 1985–98. The association between military...
Persistent link: https://www.econbiz.de/10014399916