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Using panel data and case studies, we analyze the pre-1970 history of international capital flows and current account reversals. Considering a sample of emerging markets and advanced economies with per capita GDPs at least 60 per cent those of the lead country, we show that the incidence of...
Persistent link: https://www.econbiz.de/10013099286
We examine whether the behavior of current account balances changed in the years preceding the global crisis of 2008-09, and assess the prospects for global imbalances in the post-crisis period. Changes in the budget balance are an important factor affecting current account balances for deficit...
Persistent link: https://www.econbiz.de/10013092289
This paper uses analytical and simulation models to study the impact of temporary and permanent import surcharges on … the intersectoral and intertemporal substitution effects generated by import surcharges. This model shows that the trade … analyzed import surcharges in combining sectoral disaggregation with an integrated treatment of current and capital account …
Persistent link: https://www.econbiz.de/10013155887
investment in infra- structure and to expand their capacity to export. Neither of these scenarios has a counterpart in current U …: a favorable shock to the terms of trade or a reallocation of resources toward investment in export-oriented sectors. The … prior foreign investments or through the large-scale export of services, or used the debt they incurred to finance …
Persistent link: https://www.econbiz.de/10013214610
investment less attractive, averse trends in technology and productivity growth, and a decline in the relative price of … investment goods. A long view from economic history is most supportive of the last of these four views …
Persistent link: https://www.econbiz.de/10013030614
In this paper we analyse the impact of policy uncertainty on foreign direct investment strategies. The paper follows …
Persistent link: https://www.econbiz.de/10005801356
The Great Depression of the 1930s and the Great Credit Crisis of the 2000s had similar causes but elicited strikingly different policy responses. It may still be too early to assess the effectiveness of current policy responses, but it is possible to analyze monetary and fiscal policies in the...
Persistent link: https://www.econbiz.de/10013153988
conventional explanation for these events, which emphasizes an undervalued French franc and an export-led boom. While French …. Investment, not exports, emerges as the proximate source of the French economy's resistance to the Great Depression. And fiscal … policy emerges as the major determinant of the surge in French investment spending. Previous accounts have emphasized the …
Persistent link: https://www.econbiz.de/10013215366
demand for tax smoothing and public investment. Governments whose ability to provide such services is limited may therefore …
Persistent link: https://www.econbiz.de/10013249559
Thia paper analyzes U.S. monetary-financial policy in the period leading up to the Treasury-Fed Accord. We model policy as an implicit target zone for the price level and an explicit zone for interest rates, and the difficulties on the eve of the Accord as an incipient run on a collapsing...
Persistent link: https://www.econbiz.de/10013211663