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Distributional effects of monetary policy in emerging market economies
Prasad, Eswar S.; Zhang, Boyang - 2015
We develop a two-sector, heterogeneous-agent model with incomplete financial markets to study the distributional effects and aggregate welfare implications of alternative monetary policy rules in emerging market economies. Relative to inflation targeting, exchange rate management benefits...
Persistent link: https://www.econbiz.de/10011309046
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Capital account policies, IMF programs and growth in developing regions
Bicaba, Zorobabel; Brixiova, Zuzana; Ncube, Mthuli - 2015
This paper develops an adaptive learning model under uncertainty that examines evolution of capital account polices over time and across developing regions. In the framework, countries' past experiences and IMF programs influence policymakers' beliefs about the impact of capital account...
Persistent link: https://www.econbiz.de/10010469677
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How economic, political and institutional factors influence the choice of exchange rate regimes? : new evidence from selected countries of the MENA region
Maraoui, Najia; Hadj Amor, Thouraya; Khefacha, Islem; … - 2022
In this paper, we investigate how economic, political and institutional factors affect the choice of exchange rate regimes, using data on eight MENA (Middle East and North Africa) countries over the 1984-2016 period. Specifically, we run random-effects ordered probit regressions of the...
Persistent link: https://www.econbiz.de/10013186745
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India's approach to capital account liberalization
Prasad, Eswar S. (contributor) - 2009
In this paper, I analyze India's approach to capital account liberalization through the lens of the new literature on … financial globalization. India's authorities have taken a cautious and calibrated path to capital account opening, which has … the key challenge now facing India's policymakers on this front. -- India ; international financial integration ; capital …
Persistent link: https://www.econbiz.de/10003794018
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Distributional effects of macroeconomic policy choices in emerging market economies
Prasad, Eswar S. - 2013
Distributional consequences typically receive limited attention in economic models that analyze the effects of monetary and financial sector policies. These consequences deserve more attention since financial markets are incomplete, imperfect, and economic agents' access to them is often...
Persistent link: https://www.econbiz.de/10010222156
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The impact of labor market reforms on capital flows, wages and unemployment
Beissinger, Thomas - 2001
The paper contributes to the globalization debate by scrutinizing the international spillover effects which are provoked if a single country reduces the generosity of the unemployment compensation system or weakens labor union power. For this purpose a two-country model with imperfect...
Persistent link: https://www.econbiz.de/10011404156
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Brain drain in globalization : a general equilibrium analysis from the sending countries' perspective
Marchiori, Luca; Shen, I-Ling; Docquier, Frédéric - 2009
The paper assesses the global effects of brain drain on developing economies and quantifies the relative sizes of various static and dynamic impacts. By constructing a unified generic framework characterized by overlapping-generations dynamics and calibrated to real data, this study incorporates...
Persistent link: https://www.econbiz.de/10003860334
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Fiscal competition for imperfectly-mobile labor and capital : a comparative dynamic analysis
Wildasin, David E. - 2009
Interjurisdictional flows of imperfectly-mobile migrants, investment, and other productive resources result in the costly dynamic adjustment of resource stocks. This paper investigates the comparative dynamics of adjustment to changes in local fiscal policy with two imperfectly mobile productive...
Persistent link: https://www.econbiz.de/10003901986
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Trade and migration with renewable natural resources : out-of-steady-state dynamics
López, Ramón; Schiff, Maurice W. - 2010
Commodity price increases associated with the entry of China, India and other countries into the world economy has led …
Persistent link: https://www.econbiz.de/10003961657
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Migration, international trade and capital formation : cause or effect?
Felbermayr, Gabriel; Grossmann, Volker; Kohler, Wilhelm - 2012
the effects of migration on the accumulation of both knowledge and human capital, by invoking endogenous growth theory …
Persistent link: https://www.econbiz.de/10009663906