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How to escape from the debt trap : lessons from the past

Mayer, Thomas; Schnabl, Gunther - 2021

Rising public debt everywhere has raised the question of how to reduce debt again in the future. High public debt also seems to be an impediment for the exit of central banks from ultra-low interest rates and quantitative easing. Historical precedents and proposals have included austerity,...

Persistent link: https://www.econbiz.de/10012514525

Stable money and central bank independence : implementing monetary institutions in postwar Germany

Hefeker, Carsten - 2019

Germany prides itself in having one of the most successful central banks and currencies with respect to independence and stability. I show that not only were both imposed on the country after 1945 but that there was also initial resistance to both among German experts and officials. This is a...

Persistent link: https://www.econbiz.de/10012119851

Capital controls and exchange rate regimes : an empirical investigation

Berger, Helge; Sturm, Jan-Egbert; Haan, Jakob de - 2001

It is often argued that deregulation of international transactions and its effects on the globalization of financial markets is behind the decline in the attractiveness of fixed exchange rate regimes. We argue that, instead, much of the recently observed decrease in the level of capital controls...

Persistent link: https://www.econbiz.de/10011398048

Catching up : the role of demand, supply and regulated price effects on the real exchange rates of four accession countries

MacDonald, Ronald; Wójcik, Cezary - 2003

The main aim of this paper is to examine the exchange rate behavior of a group of four transitional, EU accession countries, with a view to making policy recommendations regarding their accession to full European Monetary Union. We employ a dynamic OLS panel estimator to investigate the relative...

Persistent link: https://www.econbiz.de/10011506491

Inflation targets versus international monetary integration : a Canadian perspective

Laidler, David E. W. - 2002

The debate about Canadian-U.S. monetary integration is surveyed. The choice is among overall monetary orders,rather than exchange rate regimes and questions of policy credibility and political accountability are crucial. Canada's recent economic performance under inflation targets, and arguments...

Persistent link: https://www.econbiz.de/10011541166

Determinants of inflation expectations

Moessner, Richhild - 2021

This paper analyses the determinants of short-term inflation expectations based on surveys of professionals, using dynamic cross-country panel estimation for a large number of 34 OECD economies. We find that food consumer price inflation and depreciations of the domestic exchange rate have...

Persistent link: https://www.econbiz.de/10012745238

Expecting Brexit

Dhingra, Swati; Sampson, Thomas - 2022

, there was little or no trade diversion away from the EU, implying that many of the anticipated long-run effects of Brexit … did not materialize before the new UK-EU trade relationship came into force in 2021. …

Persistent link: https://www.econbiz.de/10012806478

Macroeconomic policy and development in India : some analytical issues

Sen, Partha - 2022

Persistent link: https://www.econbiz.de/10013473920

Trade, integration, and interregional inequality

Hirte, Georg; Lessmann, Christian - 2014 - This version: April 08, 2014

We study the effect of international trade and freeness of trade (openness) on interregional inequality within … on weighted trade shares and trade costs. In addition to the standard trade-to-GDP ratio, we derive and propose an … aggregate freeness-of-trade measure based on phiness of trade. Both measures are instrumented by proxies constructed from …

Persistent link: https://www.econbiz.de/10010354797

Cutting through the value chain : the long-run effects of decoupling the East from the West

Felbermayr, Gabriel; Mahlkow, Hendrik; Sandkamp, … - 2022

computable general equilibrium trade model calibrated with the latest version of the GTAP database to simulate the effect of … doubling non-tariff barriers - both unilateral and reciprocal - between the two blocks on trade and welfare. Imposing trade … to cooperate rather than turning away from each other. By imposing a trade war on Russia, the political West could …

Persistent link: https://www.econbiz.de/10013186412