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Asset Markets, Exchange Rates and the Balance of Payments

Frenkel, Jacob A. - 1984

This paper, written as a chapter for a Handbook of International Economics, reviews developments in the theory of international monetary economics from the late 1960's through the early 1980's. Following a review of the operation of the monetary mechanism of balance of payments adjustment in the...

Persistent link: https://www.econbiz.de/10012477808

Obstacles to Transforming Centrally-Planned Economies : The Role of Capital Markets

Calvo, Guillermo A. - 1991

This paper identifies obstacles hindering the transformation of centrally-planned economies (CPEs) into well-functioning market economies. The analysis is motivated by the recent experience with economic transformation and restructuring in Eastern Europe and the U.S.S.R. The economic system in...

Persistent link: https://www.econbiz.de/10012475224

The International Transmission and Effects of Fiscal Policies

Frenkel, Jacob A. - 1986

In recent years the world economy has been subject to large and unsyncronized changes in fiscal policies, high and … builds on a two-country model of the world economy which is applied to the analysis of the transmission and effects of …

Persistent link: https://www.econbiz.de/10012477278

Budget Deficits and Rates of Interest in the World Economy

Frenkel, Jacob A. - 1984

This paper deals with the international transmission of the effects of budget deficits on world rates of interest and … spending. The model assumes a two-country world within which capital markets are integrated, individuals behave rationally, and … horizon was finite. This formulation generates asimple pattern of aggregate behavior of the two-country world, and it assures …

Persistent link: https://www.econbiz.de/10012477738

International Liquidity and Monetary Control

Frenkel, Jacob A. - 1983

This paper deals with the relations among international liquidity,the exchange-rate regime and the effectiveness of monetary policy. The first part of the paper contains an empirical study of the demand for international reserves. It is shown that (i) reserve holdings are a stable function of a...

Persistent link: https://www.econbiz.de/10012477984

Dynamic Adjustment and the Demand for International Reserves

Bilson, John F. O. - 1979

greater exchange rate flexibility has not significantly altered the reserve holding behavior of the world's central banks …

Persistent link: https://www.econbiz.de/10012478740

International Coordination of Economic Policies : Scope, Methods, and Effects

Frenkel, Jacob A. - 1988

actual evolution of the world economy over the 1974-87 period. Our findings suggest that simple mechanistic rule …

Persistent link: https://www.econbiz.de/10012476394