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Economic policy in India : for economic stimulus, or for austerity and volatility?
Sen, Sunanda; DasGupta, Zico - 2014
The implementation of economic reforms under new economic policies in India was associated with a paradigmatic shift in monetary and fiscal policy. While monetary policies were solely aimed at "price stability" in the neoliberal regime, fiscal policies were characterized by the objective of...
Persistent link: https://www.econbiz.de/10010385761
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Macroeconomic effects of a government overdraft on its central bank account
Khemraj, Tarron - 2024
expansion) by focusing on domestic inflation, the foreign exchange (FX) rate, and the quantity of FX traded in the local market …. The empirical results suggest that the inflation rate is largely driven by foreign price and oil shocks. Nevertheless, the … the exchange rate, and slightly increasing the inflation rate. The latter finding has important implications for the …
Persistent link: https://www.econbiz.de/10014531238
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Fiscal stabilization in the United States : lessons for monetary unions
Nikolov, Plamen; Pasimeni, Paolo - 2019
The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...
Persistent link: https://www.econbiz.de/10011999069
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Exchange Rate Misalignment Estimates – Sources of Differences
Cheung, Yin-Wong - 2011
We study the differences in currency misalignment estimates obtained from alternative datasets derived from two International Comparison Program (ICP) surveys. A decomposition exercise reveals that the year 2005 misalignment estimates are substantially affected by the ICP price revision....
Persistent link: https://www.econbiz.de/10013119692
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Exchange Rate Misalignments : A Comparison of China Today Against Recent Historical Experiences of Japan, Germany, Singapore and Taiwan
He, Xinhua - 2011
propagating inflation in the home economy …
Persistent link: https://www.econbiz.de/10013121272
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Money Shocks in a Small Open Economy with Dollarization, Factor Price Rigidities, and Nontradeables
Sarajevs, Vadims - 2007
The impact of an unanticipated monetary shock in a small open economy with dollarization, factor price rigidities, and nontradeables is re-examined in an optimizing intertemporal general equilibrium model. The framework of an earlier study is extended to incorporate foreign real money balances...
Persistent link: https://www.econbiz.de/10012729029
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Corporate Investment and the Exchange Rate : The Financial Channel
Banerjee, Ryan; Hofmann, Boris; Mehrotra, Aaron N. - 2021
Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage and FX debt. These findings are consistent with the predictions of a...
Persistent link: https://www.econbiz.de/10013250472
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Exchange Rate Fluctuations and the Financial Channel in Emerging Economies
Beckmann, Joscha; Comunale, Mariarosaria - 2021
This paper assesses the financial channel of exchange rate fluctuations for emerging countries and the link to the conventional trade channel. We analyze whether the effective exchange rate affects GDP growth, the domestic credit and the global liquidity measure as the credit in foreign...
Persistent link: https://www.econbiz.de/10013214255
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Bilaterial Equilibrium Exchange Rates of EU Accession Countries Against the Euro
Rahn, Jörg - 2007
We apply BEER and PEER approaches to calculate real equilibrium exchange rates for five EU accession countries in central and east Europe. Bilateral nominal equilibrium exchange rates against the euro are obtained through algebraic transformation of the results. Panel cointegration techniques...
Persistent link: https://www.econbiz.de/10014224092
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Is a very high public debt a problem?
Leão, Pedro - 2015
debt from resulting in a high tax burden, a government default, or inflation. The second objective is to show that …
Persistent link: https://www.econbiz.de/10011309513