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The private and public savings gaps in Malta and their impact on the current account
Grech, Aaron George - Volkswirtschaftliche Fakultät, … - 2000
Any difference that arises between the level of domestic saving and investment is reflected in the nation's current account position. Both domestic saving and investment can be sub-divided into private and public sector components, and gaps between these two variables can be easily computed....
Persistent link: https://www.econbiz.de/10009295276
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Misalignment under different exchange rate regimes: the case of Turkey
Dağdeviren, Sengül; Ogus Binatli, Ayla; Sohrabji, Niloufer - Volkswirtschaftliche Fakultät, … - 2011
been linked to fixed exchange rate regimes. By studying the case of Turkey during this period which covers both a fixed and …. We first estimate the equilibrium real exchange rate for Turkey, then compute misalignment and finally test for … Turkey had a fixed exchange rate regime. This was not the case for the periods that had floating exchange rates. Thus, we …
Persistent link: https://www.econbiz.de/10011111300
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Nominal Exchange Rates and Net Foreign Assets' Dynamics: the Stabilization Role of Valuation Effects
Eugeni, Sara - Volkswirtschaftliche Fakultät, … - 2015
Recent empirical studies have highlighted that valuation effects associated with fluctuations of nominal exchange rates are one of the key components that drive the behaviour of the net foreign assets position of a country. In this paper, we propose a two-country overlapping-generations model of...
Persistent link: https://www.econbiz.de/10011252596
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Real Output and Prices Adjustments under Different Exchange Rate Regimes
Mirdala, Rajmund - Volkswirtschaftliche Fakultät, … - 2013
Exchange rate regimes evolution in the European transition economies refers to one of the most crucial policy decision in the beginning of the 1990s employed during the initial stages of the transition process. During the period of last two decades we may identify some crucial milestones in the...
Persistent link: https://www.econbiz.de/10011259924
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What Drives Capital Flows to Emerging Markets? A Survey of the Empirical Literature
Koepke, Robin - Volkswirtschaftliche Fakultät, … - 2015
This paper reviews the rapidly growing empirical literature on the drivers of capital flows to emerging markets. The empirical evidence is structured based on the recognition that the drivers of capital flows vary over time and across different types of capital flows. The drivers are classified...
Persistent link: https://www.econbiz.de/10011266125
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Overborrowing and Systemic Externalities in the Business Cycle
Bianchi, Javier - Volkswirtschaftliche Fakultät, … - 2009
Credit constraints that link a private agent's debt to market-determined prices embody a systemic credit externality that drives a wedge between competitive and (constrained) socially optimal equilibria, which induces private agents to ``overborrow". We quantify the effects of this externality...
Persistent link: https://www.econbiz.de/10005079302
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Turkey's trilemma trade-offs
Cortuk, Orcan; Singh, Nirvikar - Volkswirtschaftliche Fakultät, … - 2011
Mundell-Fleming theoretical concept of an “impossible trinity” (trilemma) for Turkey, following the Aizenman, Chinn and Ito …-2010Q4, which is split into sub-samples according to the Turkey’s macroeconomic policies. We also introduce alternative …
Persistent link: https://www.econbiz.de/10009403456
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Global Imbalances, Current Account Rebalancing and Exchange Rate Adjustments
Turhan, Ibrahim M.; Arslan, Yavuz; Kılınç, Mustafa - Volkswirtschaftliche Fakultät, … - 2011
We analyze the global imbalances and the required adjustments for rebalancing in current accounts and real exchange rates. We set up a two-country two-sector model for the US- China with two asymmetries. First, we assume that the size of China initially is one third of the US but its size...
Persistent link: https://www.econbiz.de/10009647447
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Inflation Targeting, Capital Mobility and Macroeconomic Stability
Dai, Meixing; Sidiropoulos, Moïse - Volkswirtschaftliche Fakultät, … - 2003
In this paper we examine the macroeconomic stability in a simple dynamic open economy model, in which monetary authorities adopt an flexible inflation-targeting regime in an environment with a liberalised capital account and flexible exchange rates. In this respect, inflation targeting is an...
Persistent link: https://www.econbiz.de/10005836331
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Capital Inflows and Real Exchange Rate Appreciation in Latin America
Reinhart, Carmen; Calvo, Guillermo; Leiderman, Leonardo - Volkswirtschaftliche Fakultät, … - 1992
The characteristfcs of recent capital inflows into Latin America are discussed. It is argued that these inflows are partly explained by conditions outside the region, like recession in the United States and lower international interest rates. This suggests the possibility that a reversal of...
Persistent link: https://www.econbiz.de/10005836885