Showing 1 - 10 of 53
In this paper we document Canada's trade policy response to late-nineteenth- and earlytwentieth-century globalization …
Persistent link: https://www.econbiz.de/10011895083
The ongoing review of the IMF, initiated in 2005 by Managing Director De Rato, presents an excellent opportunity to re-examine the role, functions and governance of the Fund. In particular, the objective, scope and conduct of IMF surveillance have been identified as a key area for renewal. In...
Persistent link: https://www.econbiz.de/10003484258
Building on the growing evidence on the importance of large data sets for empirical macroeconomic modeling, we use a factor-augmented VAR (FAVAR) model with more than 260 series for 20 OECD countries to analyze how global developments affect the Canadian economy. We focus on several sources of...
Persistent link: https://www.econbiz.de/10008809300
In this paper, we develop a theoretical model which identifies four channelsimport prices, competition with domestic suppliers and workers, and commodity pricesthrough which priceand wage-setting conditions in country j may affect inflation in country i. We estimate a dynamic inflation equation...
Persistent link: https://www.econbiz.de/10003773053
Commodity-equity and cross-commodity return co-movements rose dramatically after the 2008 financial crisis. This development took place following what has been dubbed the 'financialization' of commodity markets. We first document changes since 2000 in the intensity of speculative activity in...
Persistent link: https://www.econbiz.de/10010201385
The Federal Reserve's quantitative easing (QE) program has been accompanied by a flow of funds into emerging-market economies (EMEs) in search of higher returns. When Federal Reserve officials first mentioned an eventual slowdown and end of purchases under the central bank's QE program in May...
Persistent link: https://www.econbiz.de/10010429979
a country as sole provider of international liquidity is questioned as its size in the world economy - and hence its …
Persistent link: https://www.econbiz.de/10010187669
This paper builds a two-country DSGE model to study the quantitative impact of financial frictions on business cycle co-movements when investors have foreign asset exposure. The investor in each country holds capital in both countries and faces a leverage constraint on her debt. I show...
Persistent link: https://www.econbiz.de/10009565861
We assess the motivations for changing capital controls and their effectiveness in India, a country with extensive and long-standing controls. We focus on the controls on foreign borrowing that can, in principle, be motivated by macroprudential concerns. We construct a fine-grained data set on...
Persistent link: https://www.econbiz.de/10010472535
Despite a vast empirical literature that assesses the impact of financial integration on the economy, evidence of substantial welfare gains from consumption risk sharing remains elusive. While maintaining the usual cross-country perspective of the literature, this paper explicitly accounts for...
Persistent link: https://www.econbiz.de/10010472540