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Precautionary demand for foreign assets in sudden stop economies : an assessment of the new merchantilism

Bora Durda, Ceyhun; Mendoza, Enrique G.; Terrones, Marco E. - 2007

Persistent link: https://www.econbiz.de/10003522377

Precautionary Demand for Foreign Assets in Sudden Stop Economies : An Assessment of the New Merchantilism

Mendoza, Enrique G. - 2007

Financial globalization was off to a rocky start in emerging economies hit by Sudden Stops in the 1990s. The surge in … assets via business cycle volatility, financial globalization, and endogenous Sudden Stops. Our results show that financial … globalization and Sudden Stop risk are plausible explanations of the surge in reserves but cyclical volatility, which has declined …

Persistent link: https://www.econbiz.de/10014400221

On the solvency of nations : are global imbalances consistent with intertemporal budget constraints?

Durdu, Ceyhun Bora; Mendoza, Enrique G.; Terrones, Marco E. - 2010

Persistent link: https://www.econbiz.de/10003963380

How big (small?) are fiscal multipliers?

Ilzetzki, Ethan; Mendoza, Enrique G.; Végh, Carlos A. - 2011

Persistent link: https://www.econbiz.de/10009486191

Do taxes matter for long-run growth? : Harberger's superneutrality conjecture

Mendoza, Enrique G.; Milesi-Ferretti, Gian Maria; Asea, … - 1995

Persistent link: https://www.econbiz.de/10000921565

How Big (Small?) Are Fiscal Multipliers?

Ilzetzki, Ethan - 2011

We contribute to the intense debate on the real effects of fiscal stimuli by showing that the impact of government expenditure shocks depends crucially on key country characteristics, such as the level of development, exchange rate regime, openness to trade, and public indebtedness. Based on a...

Persistent link: https://www.econbiz.de/10014402360

On the Solvency of Nations : Are Global Imbalances Consistent with Intertemporal Budget Constraints?

Mendoza, Enrique G. - 2010

Theory predicts that a nation''s stochastic intertemporal budget constraint is satisfied if net exports (NX) and net foreign assets (NFA) satisfy an error-correction specification with a residual integrated of any finite order. We test this hypothesis using data for 21 industrial and 29 emerging...

Persistent link: https://www.econbiz.de/10014402804

International Evidenceon Fiscal Solvency : Is Fiscal Policy ""Responsible""?

Mendoza, Enrique G. - 2007

This paper looks at fiscal solvency and public debt sustainability in both emerging market and advanced countries. Evidence of fiscal solvency, in the form of a robust positive conditional relationship between public debt and the primary fiscal balance, is established in both groups of...

Persistent link: https://www.econbiz.de/10014403013

Do Taxes Matter for Long-Run Growth? : Harberger's Superneutrality Conjecture

Asea, Patrick K. - 1995

Harberger’s superneutrality conjecture contends that, although in theory the mix of direct and indirect taxes affects investment and growth, in practice growth effects of taxation are negligible. This paper provides evidence in support of this view by testing the predictions of endogenous...

Persistent link: https://www.econbiz.de/10014395798

Supply-Side Economics in an Integrated World Economy

Tesa, Linda L. - 1993

equilibrium of a two-country, two-sector model of an integrated world economy. Governments finance purchases and net transfers of …

Persistent link: https://www.econbiz.de/10014395806