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The effects of capital market openness on exchange rate pass-through and welfare in an inflation targeting small open economy
Mukherjee, Sanchita - Volkswirtschaftliche Fakultät, … - 2011
This paper analyzes the impact of capital market openness on exchange rate pass-through and subsequently on the social loss in an inflation targeting small open economy under a pure commitment policy. Applying the intuition behind the macroeconomic trilemma, I examine whether a more open capital...
Persistent link: https://www.econbiz.de/10009004851
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When Capitalism no longer works - a Profit Warning
De Koning, Kees - Volkswirtschaftliche Fakultät, … - 2012
Both the United States and the United Kingdom publish data on the balance sheet of Households and Non-profit organisations. Eurostat is studying the issue. The time series provide a unique tool to assess whether collectively the individual households are getting richer or poorer. They allow to...
Persistent link: https://www.econbiz.de/10011107559
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The world's dream: economic growth : the balance sheet approach
De Koning, Kees - Volkswirtschaftliche Fakultät, … - 2012
Economists may need to change their tools of analysis from analysing income and expenditure contributors (GDP) to asset value contributors -the net worth levels of individual households-. Assessment of the latter requires a balance sheet analysis. Why; because the level of individual...
Persistent link: https://www.econbiz.de/10011257702
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All Things Considered: The Interaction of the Reasons for the Financial Crisis
Rioja, Abdala; E, Yamile - Volkswirtschaftliche Fakultät, … - 2011
cause’s major implications and deterrents. Ultimately, this analysis reveals through graph theory the interconnections among …
Persistent link: https://www.econbiz.de/10009294924
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International Reserves for Emerging Economies: A Liquidity Approach.
Jung, Kuk Mo; Pyun, Ju Hyun - Volkswirtschaftliche Fakultät, … - 2015
The massive stocks of foreign exchange reserves, mostly held in the form of U.S. T-Bonds by emerging economies, are still an important puzzle. Why do emerging economies continue to willingly loan to the United States despite the low rates of return? We propose that a dynamic general equilibrium...
Persistent link: https://www.econbiz.de/10011275137
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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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Multiple Reserve Requirements, Exchange Rates, Sudden Stops and Equilibrium Dynamics in a Small Open Economy
Hernandez-Verme, Paula; Wang, Wen-Yao - Volkswirtschaftliche Fakultät, … - 2009
We model a typical Asian-crisis-economy using dynamic general equilibrium tech-niques. Exchange rates obtain from nontrivial fiat-currencies demands. Sudden stops/bank-panics are possible, and key for evaluating the merits of alternative ex-change rate regimes. Strategic complementarities...
Persistent link: https://www.econbiz.de/10005037756
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Does the level of capital openness explain “fear of floating” amongst the inflation targeting countries?
Mukherjee, Sanchita - Volkswirtschaftliche Fakultät, … - 2011
Abstract Under the assumption of perfect capital mobility, inflation targeting (IT) requires central banks to primarily focus on domestic inflation and to let their exchange rate float freely. This is consistent with the macroeconomic trilemma suggesting monetary independence, perfect capital...
Persistent link: https://www.econbiz.de/10009001215
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The Collective Individual Households or Coin economic theory
De Koning, Kees - Volkswirtschaftliche Fakultät, … - 2013
The collective individual households or coin economic theory aims to study how savings have been and are being … as produced on a quarterly and annual basis by the Federal Reserve Bank in the U.S. helps to underpin this theory. For … their individual balance sheet. The coin economic theory may help to show that financial sector (equals savings) growth does …
Persistent link: https://www.econbiz.de/10011261170
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Les « hélicoptères » des banques centrales
Dai, Meixing - Volkswirtschaftliche Fakultät, … - 2011
The effects of quantitative easing policy, which looks like a “helicopter dropping” of money, are quite complex. Implemented following a major crisis induced by the deflation of bubbles on asset prices, this policy creates redistributive effects in favour of financial and banking...
Persistent link: https://www.econbiz.de/10009359920