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The Global Impact of the Systemic Economies and MENA Business Cycles
Cashin, Paul; Mohaddes, Kamiar; Raissi, Mehdi - International Monetary Fund (IMF) - 2012
This paper analyzes spillovers from macroeconomic shocks in systemic economies (China, the Euro Area, and the United … developments in China than to shocks in the Euro Area or the United States, in line with the direction of evolving trade patterns … and the emergence of China as a key driver of the global economy. Outward spillovers from the GCC region and MENA oil …
Persistent link: https://www.econbiz.de/10010790399
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Monetary Union in West Africa; Who Might Gain, Who Might Lose, and Why?
Masson, Paul R.; Debrun, Xavier; Pattillo, Catherine A. - International Monetary Fund (IMF) - 2002
We develop a multicountry model in which governments aim at excessive spending in order to serve the narrow interests of the group in power. This puts pressure on the monetary authorities to extract seigniorage, and thus affects the incentives countries would have to participate in a monetary...
Persistent link: https://www.econbiz.de/10005825633
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Trade in the WAEMU; Developments and Reform Opportunities
Weisfeld, Hans; Goretti, Manuela - International Monetary Fund (IMF) - 2008
This paper provides an overview of trade reform in the West African Economic and Monetary Union (WAEMU) since 1996 and a quantitative assessment of potential effects on trade patterns and tariff revenue of the current reform agenda. Despite evidence of significant trade complementarities within...
Persistent link: https://www.econbiz.de/10005825805
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Patterns of Shocks and Regional Monetary Cooperation in South Asia
Maskay, Nephil Matangi - International Monetary Fund (IMF) - 2003
The member states of the South Asian Association for Regional Cooperation have set as a target the achievement of an economic union by 2020. Reaching this goal will require greater levels of monetary cooperation. How should this be achieved? Data from South Asia suggest that member states have...
Persistent link: https://www.econbiz.de/10005825897
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Is the Middle East and North Africa Region Achieving its Trade Potential?
Söderling, Ludvig - International Monetary Fund (IMF) - 2005
This paper analyzes export performance in the Middle East and North Africa (MENA) using a gravity model applied to panel data. It addresses two questions: (i) are there significant unexploited export markets for the MENA region?; and (ii) have integration efforts with the EU since the mid-1990s...
Persistent link: https://www.econbiz.de/10005825913
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The Transfer Problem Revisited; Net Foreign Assets and Real Exchange Rates
Milesi-Ferretti, Gian-Maria; Lane, Philip R. - International Monetary Fund (IMF) - 2000
The relationship between international payments and the real exchange rate—the “transfer problem”—is a classic question in international economics. We use new data on countries’ net external positions together with real exchange rate data to shed light on this question. We present a...
Persistent link: https://www.econbiz.de/10005825933
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Financial Integration in Asia; Recent Developments and Next Steps
Teo, Leslie; Cowen, David; Shah, Hemant; Salgado, Ranil; … - International Monetary Fund (IMF) - 2006
This Working Paper brings together three papers prepared as background for discussions at the Second High-Level Conference on Asian Integration cohosted by the Monetary Authority of Singapore and the IMF on May 25, 2006. The first documents recent trends in the intraregional flow of goods and...
Persistent link: https://www.econbiz.de/10005826187
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Armington Elasticities in Intermediate Inputs Trade; A Problem in Using Multilateral Trade Data
Saito, Mika - International Monetary Fund (IMF) - 2004
This paper finds that the estimates of Armington elasticities (the elasticity of substitution between groups of products identified by country of origin) obtained from multilateral trade data can differ from those obtained from bilateral trade data. In particular, the former tends to be higher...
Persistent link: https://www.econbiz.de/10005826347
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Beauty Queens and Wallflowers; Currency Unions in the Middle East and Central Asia
Elborgh-Woytek, Katrin; Berengaut, Julian - International Monetary Fund (IMF) - 2006
Against the background of the theory of optimum currency areas, the paper analyzes possible sequences for establishing a currency union (CU) in the Middle East and Central Asia region. Between the corner solutions of independent currencies for all countries in the region and a CU comprising all...
Persistent link: https://www.econbiz.de/10005826453
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Mexico'S Integration Into Nafta Markets; A View From Sectoral Real Exchange Rates and Transaction Costs
Juvenal, Luciana; Blavy, Rodolphe - International Monetary Fund (IMF) - 2008
A self-exciting threshold autoregressive model is used to measure transaction costs that may explain relative price differentials and nonlinearities in the behavior of sectoral real exchange rates across Mexico, Canada and the U.S. Interpreting price threshold bands as transactions costs, we...
Persistent link: https://www.econbiz.de/10005826513