Showing 1 - 10 of 162
This paper focuses on the sluggish growth of world trade relative to income growth in recent years. The analysis uses … results suggest that trade is growing slowly not only because of slow growth of Gross Domestic Product (GDP), but also because …
Persistent link: https://www.econbiz.de/10013027665
This paper employs two established macroeconomic models to show that fiscal policy in the euro area can help monetary policy in reducing inflation. Specifically, a fiscal consolidation of 1 percent of GDP for two years and 0.5 percent in the third year across the euro area would ease the policy...
Persistent link: https://www.econbiz.de/10014352982
Monetary policy transmission in EMs has been found to be weak historically due to under-developed financial markets and heavy central bank intervention in FX markets that undermine the exchange rate channel. Against this background, this paper investigates the transmission of monetary policy,...
Persistent link: https://www.econbiz.de/10014353248
Deeper economic integration within the Caribbean has been a regional policy priority since the establishment of the Caribbean Community (CARICOM) and the decision to create the Caribbean Single Market and Economy (CSME). Implementation of integration initiatives has, however, been slow, despite...
Persistent link: https://www.econbiz.de/10012840598
Over the past two decades, Mexico has hedged oil price risk through the purchase of putoptions. We examine the resulting welfare gains using a standard sovereign default modelcalibrated to Mexican data. We show that hedging increases welfare by reducing incomevolatility and reducing risk spreads...
Persistent link: https://www.econbiz.de/10012924997
This paper examines the evolving importance of common global components underlying domestic financial conditions. It develops financial conditions indices (FCIs) that make it possible to compare a large set of advanced and emerging market economies. It finds that a common component, 'global...
Persistent link: https://www.econbiz.de/10012927458
Global trade growth has slowed since 2012 relative both to its strong historical performance and to overall economic … growth. This paper aims to quantify the role of weak economic growth and changes in its decomposition in accounting for the … weakness in economic activity, particularly investment, has been the primary restraint on trade growth, accounting for over 80 …
Persistent link: https://www.econbiz.de/10012928627
started to impact significantly on SSA growth: one-percent increase in China's GDP per capita leads to 0.02 percent increase … on the SSA's GDP per capita; (ii) oil and investment-goods exporters benefit more from China's growth; (iii) compared to … China's consumption, its investment growth acts as a more important channel in influencing SSA; (iv) exports to China …
Persistent link: https://www.econbiz.de/10012929920
This paper presents a comprehensive database of country-specific commodity price indices for 182 economies covering the period 1962-2018. For each country, the change in the international price of up to 45 individual commodities is weighted using commodity-level trade data. The database includes...
Persistent link: https://www.econbiz.de/10012892923
relatively accurate forecasts of inflation and output growth …
Persistent link: https://www.econbiz.de/10012918559