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Growing Up to Stability? Financial Globalization, Financial Development and Financial Crises
Bordo, Michael D. - 2015
Why did some countries learn to grow up to financial stability and others not? We explore this question by surveying the key determinants and major policy responses to banking, currency, and debt crises between 1880 and present. We divide countries into three groups: leaders, learners, and...
Persistent link: https://www.econbiz.de/10012457380
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Some New Perspectives on India's Approach to Capital Account Liberalization
Prasad, Eswar S. - 2009
financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has …In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … the key challenge now facing India's policymakers on this front …
Persistent link: https://www.econbiz.de/10012463989
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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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The Impact of Uncertainty Shocks
Bloom, Nicholas - 2007
Uncertainty appears to jump up after major shocks like the Cuban Missile crisis, the assassination of JFK, the OPEC I oil-price shock and the 9/11 terrorist attack. This paper offers a structural framework to analyze the impact of these uncertainty shocks. I build a model with a time varying...
Persistent link: https://www.econbiz.de/10012465265
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Macroeconomic Adjustment with Segmented Labor Markets
Agenor, Pierre-Richard - 1994
This paper analyzes the macroeconomic effects of fiscal and labor market policies in a small open developing country. The basic framework considers an economy with a large informal production sector and a heterogeneous work force. The labor market is segmented as a result of efficiency...
Persistent link: https://www.econbiz.de/10012474150
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Devaluation Crises and the Macroeconomic Consequences of Postponed Adjustment in Developing Countries
Edwards, Sebastian - 1989
This paper develops our analytical model to explore the relationship between the dynamics of macroeconomic adjustment and the timing of the implementation of an adjustment program featuring an official devaluation. The effects of postponing adjustment depend on the source of the original shock,...
Persistent link: https://www.econbiz.de/10012476190
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Necessity as the Mother of Invention : Monetary Policy after the Crisis
Blinder, Alan S. - 2016
We ask whether recent changes in monetary policy due to the financial crisis will be temporary or permanent. We present evidence from two surveys--one of central bank governors, the other of academic specialists. We find that central banks in crisis countries are more likely to have resorted to...
Persistent link: https://www.econbiz.de/10012455945
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Simulating Russia’s and Other Large Economies’ Challenging and Interconnected Transitions
Benzell, Seth G. - 2015
under favorable and unfavorable fossil-fuel price regimes. The model includes Russia, the U.S., China, India, the EU, and … Japan+ (Japan plus Korea). The model predicts dramatic increases in tax rates in the U.S., EU, India, and Russia. Indeed …
Persistent link: https://www.econbiz.de/10012457398
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Liquidity and Foreign Asset Management Challenges for Latin American Countries
Aizenman, Joshua - 2014
We analyze the degree to which the growing importance of sovereign wealth funds [SWFs] and the diffusion of inflation targeting and augmented Taylor rules have impacted the post crisis adjustment of Latin American Countries (LATAM) to the challenges associated with terms of trade and financial...
Persistent link: https://www.econbiz.de/10012458019
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Structural Change, Fundamentals and Growth : A Framework and Case Studies
McMillan, Margaret - 2017
mismatches, continued globalization and technological change, greater income inequality, unprecedented population aging in richer … development quest. The sample includes seven developing countries--Botswana, Ghana, Nigeria, Zambia, India, Vietnam and Brazil …
Persistent link: https://www.econbiz.de/10012455303