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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
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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
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The effects of taxation on capital accumulation
Feldstein, Martin S. (ed.) - 1987
Persistent link: https://www.econbiz.de/10013481045
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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
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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
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The Exchange Value of the Renminbi and China's Balance of Trade : An Emp irical Study
Zhang, Zhaoyong - 1996
This paper aims at assessing the relationship between the exchange value of the Chinese Renminbi (RMG) and China's trade balance by means of some recent econometric techniques designed to evaluate the existence and the direction of causality. We find strong evidence suggesting that changes in...
Persistent link: https://www.econbiz.de/10012473063
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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
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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
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Entry and Exit of Informal Firms and Development
McCaig, Brian; Pavcnik, Nina - National Bureau of Economic Research - 2021
Non-farm informal businesses comprise the majority of the firm distribution in developing countries. We document novel stylized facts about entry and exit of informal, non-farm firms using nationally representative panel data over 15 years and across regions with varying levels of local economic...
Persistent link: https://www.econbiz.de/10012599276
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Macroprudential Policy with Leakages
Bengui, Julien - 2018
The outreach of macroprudential policies is likely limited in practice by imperfect regulation enforcement, whether due to shadow banking, regulatory arbitrage, or other regulation circumvention schemes. We study how such concerns affect the design of optimal regulatory policy in a workhorse...
Persistent link: https://www.econbiz.de/10012480701