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Monetary Policies for Developing Countries : The Role of Corruption
Huang, Haizhou - 2003
This paper examines the role of corruption in the design of monetary policies for developing countries and obtains … corruption. Second, the optimal degree of conservatism for a Rogoff (1985)-type central banker is an inverse function of the … corruption level. Third, either an optimally-designed inflation target or an optimal conservative central banker is preferableto …
Persistent link: https://www.econbiz.de/10012468601
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Global Business Cycles : Convergence or Decoupling?
Kose, M. Ayhan - 2008
This paper analyzes the evolution of the degree of global cyclical interdependence over the period 1960-2005. We categorize the 106 countries in our sample into three groups -- industrial countries, emerging markets, and other developing economies. Using a dynamic factor model, we then decompose...
Persistent link: https://www.econbiz.de/10012464278
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On the Divergence between CPI and PPI as Inflation Gauges : The Role of Supply Chains
Wei, Shang-Jin - 2018
in tandem within a given country around the world, but start to diverge after 2000. Understanding the source of …
Persistent link: https://www.econbiz.de/10012453395
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International Transmissions of Monetary Shocks : Between a Trilemma and a Dilemma
Han, Xuehui - 2016
This paper re-examines international transmissions of monetary policy shocks from advanced economies to emerging market economies. In terms of methodologies, it combines three novel features. First, it separates co-movement in monetary policies due to common shocks from spillovers of monetary...
Persistent link: https://www.econbiz.de/10012455868
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From the Financial Crisis to the Real Economy : Using Firm-level Data to Identify Transmission Channels
Claessens, Stijn - 2011
Using accounting data for 7722 non-financial firms in 42 countries, we examine how the 2007-2009 crisis affected firm performance and how various linkages propagated shocks across borders. We isolate and compare effects from changes in external financing conditions, domestic demand, and...
Persistent link: https://www.econbiz.de/10012461298