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Labor Market Distortions and Structural Adjustments in Developing Countries

Edwards, Sebastian; Edwards, Alejandra Cox - 2021

The purpose of this paper is to provide a typology of different labor market configurations and investigate how two major structural adjustment policies, namely a trade liberalization reform and the relaxation of capital controls, affect the level of aggregate employment and the rate of...

Persistent link: https://www.econbiz.de/10013246070

Terms of Trade, Exchange Rates and Labor Markets Adjustment in Developing Countries

Edwards, Sebastian - 2021

This paper uses three models of a small open economy to analyze the effects of terms of trade and exchange rate changes (i.e. devaluations) on labor market adjustment. First, a three goods (exportables, importables, non-tradables), four factors model is developed and used to investigate how an...

Persistent link: https://www.econbiz.de/10013234385

Economic Development and the Effectiveness of Foreign Aid : A Historical Perspective

Edwards, Sebastian - 2014

In this paper I discuss the effectiveness of foreign aid from a historical perspective. I show that foreign aid is a relatively new concept in economics, and I emphasize the role of exchange rate policies in the foreign aid controversies of the 1970s through 1990s. I show that in the early 1980s...

Persistent link: https://www.econbiz.de/10013043991

Trade Orientation, Distortions and Growth in Developing Countries

Edwards, Sebastian - 2010

In this paper I use a cross country data set to analyze the relationship between trade orientation, trade distortions and growth. I first develop a simple endogenous growth model that emphasizes the process of technological absorption in small developing countries. According to this model...

Persistent link: https://www.econbiz.de/10013138665

Monetary Policy Independence Under Flexible Exchange Rates : An Illusion?

Edwards, Sebastian - 2015

, and capital mobility – Chile, Colombia and Mexico – to investigate the extent to which Federal Reserve actions are …

Persistent link: https://www.econbiz.de/10013029549

Banks and Macroeconomics Disturbances Under Predetermined Exchange Rates

Edwards, Sebastian - 2006

evidence for Chile and Mexico supports the main predictions of the model …

Persistent link: https://www.econbiz.de/10012783972

A Tale of Two Crises : Chile and Mexico

Edwards, Sebastian - 2022

observers were shocked by this turn of events. Mexico had a remarkable historical precedent: merely a dozen years earlier Chile … suffered a prophetically similar crisis. Like Mexico during the 1980s, Chile during the 1970s undertook major structural … aimed at creating a modern financial sector. In Chile, as in Mexico more than a decade later, the use of a predetermined …

Persistent link: https://www.econbiz.de/10013322882

Crisis Prevention : Lessons from Mexico and East Asia

Edwards, Sebastian - 2022

economies. Although much of the discussion concentrates on East Asia and Mexico, I also draw on the history of some previous …

Persistent link: https://www.econbiz.de/10013324600

Interest Rates, Contagion and Capital Controls

Edwards, Sebastian - 2021

In this paper I analyze several issues related to contagion,' including its definition, recent experiences, alternative channels at work, and possible prevention mechanisms. The discussion deals with the macroeconomics implications of contagion, and concentrates on the relationship between the...

Persistent link: https://www.econbiz.de/10013231414

Exchange Rate Regimes, Capital Flows and Crisis Prevention

Edwards, Sebastian - 2021

In this paper I analyze, within the context of the new 'financial architecture,' the relationship between exchange rate regimes, capital flows and currency crises in emerging economies. The paper draws on lessons learned during the 1990s, and deals with some of the most important policy...

Persistent link: https://www.econbiz.de/10013231996