Similar Search Results

International Monetary Fund - 1988

This paper considers the demand for various monetary aggregates with a view to assessing their potential roles as intermediate variables for monetary policy. Illustrative estimates using a generalized autoregressive distributed lag model are presented. For M1, the results support an “error...

Persistent link: https://www.econbiz.de/10014396094

Model of the U.S. Current Account

International Monetary Fund - 1988

This paper presents an econometric model of U.S. current account transactions. The model is used to analyze the factors behind the deterioration in the U.S. external position during the 1980s and to examine the sensitivity of the U.S. current account balance to changes in factors which are its...

Persistent link: https://www.econbiz.de/10014396470

Deconstructing the International Business Cycle : Why Does a U.S. Sneeze Give the Rest of the World a Cold?

International Monetary Fund - 2010

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

Exchange Rates and Trade Balance Adjustment in Emerging Market Economies

International Monetary Fund - 2006

respond to the nominal exchange rate and pass-through effects, import and export volumes respond to relative price changes …, and the trade balance responds to changes in import and export values …

Persistent link: https://www.econbiz.de/10014409791

The Balance of Trade, the Terms of Trade, and the Real Exchange Rate : An Intertemporal Optimizing Framework

International Monetary Fund - 1988

This paper uses an intertemporal optimizing model of a small open economy to analyze how terms of trade changes affect real exchange rates and the trade balance. We consider temporary current, anticipated future, and permanent changes in the terms of trade. The results suggest that the...

Persistent link: https://www.econbiz.de/10014396150

Export Pricing Behavior of Manufactuting : U.S.-Japan Comparison

International Monetary Fund - 1988

Using domestic and export price data and a framework of markup over cost, pricing behavior of U.S. and Japanese … manufacturers is compared. Major export industries in Japan have higher productivity growth and lower pass-through coefficients than … American exporters, who tend to price to domestic cost. Japanese firms seem to price discriminate between domestic, and export …

Persistent link: https://www.econbiz.de/10014395791

Export Versus FDI in Services

International Monetary Fund - 2010

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

Exchange Rate Volatility and Trade Flows : Some New Evidence

International Monetary Fund - 2004

Persistent link: https://www.econbiz.de/10014409758

The Dynamics of Money Demand and Prices

International Monetary Fund - 1990

The paper evaluates whether a monetary aggregate can serve as a useful predictor of inflation, using recent developments in the principle of cointegrated variables. M2 but not M1 is cointegrated with relevant price, transactions, and rate of return variables. However, deviations of M2 from its...

Persistent link: https://www.econbiz.de/10014395786

Corruption and Military Spending

International Monetary Fund - 2000

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