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Germany's Economic Unification : An Assessment after Ten Years

Sinn, Hans-Werner - 2000

A political miracle occurred when Germany was reunited, and at first glance an economic miracle has followed. Real incomes in the east have now reached the western level, and investment per capita has been much higher than in the west. However, every third deutschmark spent in the east has been...

Persistent link: https://www.econbiz.de/10012471183

China : An Institutional View of an Unusual Macroeconomy

Dollar, David - 2013

China presents several macroeconomic patterns that appear inconsistent with standard stylized facts about economic development and hence inconsistent with the standard neoclassical growth model. We show that Chinese macroeconomic patterns instead appear consistent with an environment where state...

Persistent link: https://www.econbiz.de/10012459000

Savings Promotion, Investment Promotion, and International Competitiveness

Goulder, Lawrence H. - 1988

In an open economy, savings- and investment-promoting policies may have very different effects on the capital account … effects in both the short and long run. We focus on the different effects of savings- and investment-promoting U.S. tax … fundamentally depending on the degree of international capital mobility. In the absence of such mobility, savings- and investment …

Persistent link: https://www.econbiz.de/10012476437

The effects of taxation on capital accumulation

Feldstein, Martin S. (ed.) - 1987

Persistent link: https://www.econbiz.de/10013481045

Exchange Rates as Nominal Anchors

Edwards, Sebastian - 1992

This paper discusses the use of nominal exchange rates as nominal anchors in stabilization programs. The first part deals with the dynamics of inflation in highly indexed economies. It is shown that credible exchange rate anchors will reduce the degree of inflationary inertia. However, if some...

Persistent link: https://www.econbiz.de/10012474717

Exchange Controls, Devaluations and Real Exchange Rates : The Latin American Experience

Edwards, Sebastian - 1987

This paper deals with the anatomy of devaluation in Latin America. In an effort to understand the economics surrounding the causes and consequences of exchange rate crises, eighteen devaluation episodes that took place between 1962 and 1982 are investigated in detail. The paper focuses on: (1)...

Persistent link: https://www.econbiz.de/10012476720

Exchange Controls, Capital Controls, and International Financial Markets

Stockman, Alan C. - 1985

This paper examines the effects of restrictions on international financial markets. We analyze a general equilibrium, rational expectations model of a two-country world in which well-functioning international financial markets premit trade in all state-contingent securities except insofar as...

Persistent link: https://www.econbiz.de/10012477324

Preemptive Policies and Risk-Off Shocks in Emerging Markets

Das, Mitali; Gopinath, Gita; Kalemli-Ozcan, Sebnem - National Bureau of Economic Research - 2021

We show that "preemptive" capital flow management measures (CFM) can reduce emerging markets and developing countries' (EMDE) external finance premia during risk-off shocks, especially for vulnerable countries. Using a panel dataset of 56 EMDEs during 1996-2020 at monthly frequency, we document...

Persistent link: https://www.econbiz.de/10012794642

Exchange Controls As A Fiscal Instrument

Schmitt-Grohé, Stephanie; Uribe, Martín - National Bureau of Economic Research - 2023

About 20 percent of countries have in place dual, multiple, or parallel exchange rates. Exchange controls represent a form of distortionary commercial policy. We show that they can also deflate the real value of external public debt. We study an optimal taxation problem of a government with...

Persistent link: https://www.econbiz.de/10014322682

Tax Effects on Work Activity, Industry Mix and Shadow Economy Size : Evidence from Rich-Country Comparisons

Davis, Steven J. - 2004

Guided by a simple theory of task assignment and time allocation, we investigate the long run response to national differences in tax rates on labor income, payrolls and consumption. The theory implies that higher tax rates reduce work time in the market sector, increase the size of the shadow...

Persistent link: https://www.econbiz.de/10012468184