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The macroeconomic policy response in India after the North Atlantic financial crisis (NAFC) was rapid. The overshooting of the stimulus and its gradual withdrawal sowed seeds for inflationary and BoP pressures and growth slowdown, then exacerbated by domestic policy bottlenecks and volatility in...
Persistent link: https://www.econbiz.de/10013053046
countries/regions over the period 1979-2011Q2, to discriminate - between supply-driven and demand-driven oil-price shocks and to …-consequences of a supply-driven oil-price shock are very different from those of an oil-demand shock driven by global economic …-exporting countries that possess large proven oil/gas reserves. However, in response to an oil-demand disturbance, almost all countries in …
Persistent link: https://www.econbiz.de/10013098275
, commodity prices fall; weaker commodity prices depress domestic demand via lower real income; real GDP in emerging markets …
Persistent link: https://www.econbiz.de/10013015605
We test whether foreign demand matters for local house prices in the US using an identification strategy based on the … proxy for a strong and exogenous shift in foreign demand, we show that house prices rise disproportionately more in … experienced the strongest foreign demand shocks and the biggest drop in affordability between 2000 and 2017. Our findings suggest …
Persistent link: https://www.econbiz.de/10012836101
This paper takes a fresh look at the determinants of reserves holding with the aim of highlighting similarities and differences in the motives for holding reserves among emerging markets (EMs), advanced economies (AEs), and low-income countries (LICs). We apply two panel estimation techniques:...
Persistent link: https://www.econbiz.de/10012907941
This paper separates the roles of demand for housing services and belief about future house prices in a house price … cycle, by utilizing a feature of user-cost-of-housing that it is sensitive to demand for housing services only. Optimality … structures in producing housing services. I find that the impact of demand for housing services on house prices is amplified by a …
Persistent link: https://www.econbiz.de/10012888765
particular the price of oil, are shown to be demand driven. The model performs well at one- and four-quarter horizons compared to …
Persistent link: https://www.econbiz.de/10013016583
role of supply-side bottlenecks in shaping India's export demand relationship. We use disaggregated export volume data for … estimation. Our results indicate that Indian exports are sensitive to international relative-price competitiveness, world demand …
Persistent link: https://www.econbiz.de/10013016589
This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses an empirical strategy based on an error correction model to assess whether the global trade slowdown is structural or cyclical. An estimate of the relationship between trade and...
Persistent link: https://www.econbiz.de/10013027665
This paper estimates the household income growth rates implied by food demand in a sample of urban Chinese households …
Persistent link: https://www.econbiz.de/10013060540