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The Yen and its East Asian Neighbors, 1980-1995 : Cooperation or Competition?
Takagi, Shinji - 2021
closely with a depreciating yen, suggesting the countries' emphasis on export promotion. The Singapore dollar, on the other …
Persistent link: https://www.econbiz.de/10013246656
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Recovery and Sustainability in East Asia
Park, Yung Chul; Lee, Jong-Wha - 2021
This paper analyzes the macroeconomic adjustment from the crisis in East Asia in a broad international prospective. The stylized pattern from the previous 160 currency crisis episodes over the period from 1970 to 1995 shows a V-type adjustment of real GDP growth in the years prior to and...
Persistent link: https://www.econbiz.de/10013227193
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Why Have Economic Reforms in Mexico Not Generated Growth?
Kehoe, Timothy J. - 2010
Following its opening to trade and foreign investment in the mid-1980s, Mexico's economic growth has been modest at best, particularly in comparison with that of China. Comparing these countries and reviewing the literature, we conclude that the relation between openness and growth is not a...
Persistent link: https://www.econbiz.de/10013135399
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Distinguishing Constraints on Financial Inclusion and Their Impact on GDP, TFP, and the Distribution of Income
Dabla-Norris, Era - 2015
A general equilibrium model featuring multiple realistic sources of financial frictions is developed to study how different constraints interact in equilibrium. We highlight, distinguish, and evaluate their differential impacts and rich interactions. The economic impact of financial inclusion...
Persistent link: https://www.econbiz.de/10013030631
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Local Fiscal Multipliers and Fiscal Spillovers in the United States
Auerbach, Alan J. - 2019
We estimate local fiscal multipliers and spillovers for the United States using a rich dataset based on U.S. Department of Defense contracts and a variety of outcome variables relating to income and employment. We find strong positive spillovers across locations and industries. Both backward...
Persistent link: https://www.econbiz.de/10012894441
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The Impact of Domestic Travel Bans on Covid-19 is Nonlinear in Their Duration
Burlig, Fiona; Sudarshan, Anant; Schlauch, Garrison - 2021
using a natural experiment in India as well as data from China, Indonesia, the Philippines, South Africa, and Kenya …
Persistent link: https://www.econbiz.de/10013230605
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The Permanent Effects of Fiscal Consolidations
Fatás, Antonio - 2016
The global financial crisis has permanently lowered the path of GDP in all advanced economies. At the same time, and in response to rising government debt levels, many of these countries have been engaging in fiscal consolidations that have had a negative impact on growth rates. We empirically...
Persistent link: https://www.econbiz.de/10012987599
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Natural Experiments in Macroeconomics
Fuchs-Schündeln, Nicola - 2015
taught us about such diverse subjects as the validity of the Permanent Income Hypothesis, the size of the fiscal multiplier …
Persistent link: https://www.econbiz.de/10013021490
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Growth Forecast Errors and Fiscal Multipliers
Blanchard, Olivier J. - 2013
This paper investigates the relation between growth forecast errors and planned fiscal consolidation during the crisis. We find that, in advanced economies, stronger planned fiscal consolidation has been associated with lower growth than expected, with the relation being particularly strong,...
Persistent link: https://www.econbiz.de/10013087059
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By How Much Does GDP Rise If the Government Buys More Output?
Hall, Robert E. - 2009
. With allowance for other factors holding back GDP growth during those wars, the multiplier linking government purchases to … as well. On the other hand, neoclassical models have a much lower multiplier, because they predict that consumption falls … when purchases rise. The key features of a model that delivers a higher multiplier are (1) the decline in the markup ratio …
Persistent link: https://www.econbiz.de/10013154570