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Macroeconomic Policies in the OECD and LDC External Adjustmemt

Sachs, Jeffrey - 1985

In this paper, the authors describe a simulation model for analyzing the effects of macroeconomic policies in the OECD on global macroeconomic equilibrium. Particular attention is paid to the effects on developing countries of alternative mixes of monetary and fiscal policies in the OECD.Though...

Persistent link: https://www.econbiz.de/10012477552

Contractionary Devaluation, and Dynamic Adjustment of Exports and Wages

Larrain, Felipe - 1986

. In this paper we add wage and export-sector dynamics to the models of contractionary devaluation, and show that the …

Persistent link: https://www.econbiz.de/10012476992

Developing Country Debt and the Market Value of Large Commercial Banks

Kyle, Steven C. - 1984

The effect on commercial banks of exposure to large amounts of developing country debt has been a topic of increasing concern in recent years. Fear of default on the part of the debtor countries has led to fears for the solvency of the creditor banks since in many cases the total of outstanding...

Persistent link: https://www.econbiz.de/10012477618

LDC Borrowing with Default Risk

Sachs, Jeffrey - 1982

This paper presents a theoretical model to describe the effects of default risk on international lending to LDC sovereign borrowers. The threat of defaults in international lending is shown to give rise to many characteristics of the syndicated loan market: (1) quantity rationing of loans; (2)...

Persistent link: https://www.econbiz.de/10012478182

LDC Debt in the 1980s : Risk and Reforms

Sachs, Jeffrey - 1982

With the rapid increase in LDC indebtedness in the recent decade, the issues of creditworthiness and country risk have gained new importance. This paper offers a theoretical and historical analysis of international capital markets in the presence of default risk. The theoretical model suggests...

Persistent link: https://www.econbiz.de/10012478250

Distributional Effects of Globalization in Developing Countries

Goldberg, Pinelopi Koujianou - 2007

We discuss recent empirical research on how globalization has affected income inequality in developing countries. We begin with a discussion of conceptual issues regarding the measurement of globalization and inequality. Next, we present empirical evidence on the evolution of globalization and...

Persistent link: https://www.econbiz.de/10012465771

Trade, Inequality, and Poverty : What Do We Know? Evidence from Recent Trade Liberalization Episodes in Developing Countries

Goldberg, Pinelopi K. - 2004

We review the empirical evidence on the relationship between Trade Liberalization, Inequality, and Poverty based on the … analysis of micro data from several developing countries that underwent significant trade reforms in recent years. Despite many … studies' has established certain patterns that seem common across countries and trade liberalization episodes, and may hence …

Persistent link: https://www.econbiz.de/10012468100

International Trade and Child Labor : Cross-Country Evidence

Edmonds, Eric - 2004

We explore the relationship between greater exposure to trade (as measured by openness) and child labor in a cross … countries that trade more have less child labor. At the cross-country means, the data suggest an openness elasticity of child …. When we control for the endogeneity of trade and for cross-country income differences, the openness elasticity of child …

Persistent link: https://www.econbiz.de/10012468377

What Explains Skill Upgrading in Less Developed Countries?

Pavcnik, Nina - 2000

Although many developing countries have experienced growing income inequality and an increase in the relative demand for skilled workers during the 1980s, the sources of this trend remain a puzzle. This paper examines whether investment and adoption of skill-biased technology have contributed to...

Persistent link: https://www.econbiz.de/10012470897

Financial Crises in Emerging Markets : The Lessons from 1995

Sachs, Jeffrey - 1996

In this paper we examine closely the financial events following the Mexican peso devaluation to uncover new lessons about the nature of financial crises. We explore the question of why, during 1995, some emerging markets were hit by financial crises while others were not. To this end, we ask...

Persistent link: https://www.econbiz.de/10012473272